Novacore, an independent provider of next-generation specialty insurance solutions, has launched Zion Underwriting, a transactional risk insurance initiative aimed at supporting complex mergers and acquisitions and structured corporate transactions.
Novacore states that Zion Underwriting will deliver a range of products including representations and warranties insurance (RWI), tax liability insurance and contingent risk cover.
These solutions are intended to address exposures linked to corporate transactions, and will be made available to private equity firms, corporate buyers, investment banks and transaction advisers seeking structured risk transfer to support deal execution and limit potential financial loss.
The programme is being led by Michael Mora, who joins Novacore with experience in transactional risk underwriting and business development. He has previously established and overseen transactional risk platforms in the United States market. At Novacore, Mora has been appointed President of Alternative Risk and is responsible for the underwriting approach and operational delivery of Zion Underwriting.
“Zion Underwriting represents a meaningful step in our continued effort to build specialised capabilities in areas of strong market demand,” commented Aaron Miller, Chief Executive Officer of Novacore. “Transactional risk is a highly technical and relationship-driven segment of the market. Michael’s leadership and depth of experience position us to compete thoughtfully and responsibly in this space.”
According to Novacore, the Zion Underwriting offering is designed to protect parties involved in transactions from financial losses that may arise from breaches of representations and warranties, uncertain tax positions, or identified legal and regulatory risks that could affect completion timelines.
“Transactional risk insurance has become an essential tool in today’s M&A environment,” added Mora. “Through Zion Underwriting, we are building a focused program designed to deliver responsive, solutions-oriented underwriting that supports brokers and clients navigating complex transactions. With a highly experienced team and committed capacity providers behind us, we are positioned to deliver consistent, long-term value to the market.”
Zion Underwriting will form part of Novacore’s Alternative Risk division, which the company has established to focus on specialised and non-traditional risk structures.
