“The Deal Assured team have always delivered
for us on Key Person Assurance. They provide an advice led, comprehensive product; the service is immaculate and they always enable transactions to complete without delay. And when circumstances have led to a claim they have, in
every case delivered quickly and without drama.” Peter Clark, Isis Equity Partners
Partnership underwrites, creates and costs their own very special protection products. Whilst premiums under these circumstances are several multiples of ordinary premium rates, these are modest in comparison to private equity having to abort the deal.
Company Profile
We are a leading UK provider of all-encompassing Key Person Assurance Protection advice delivering fast, cost- effective, reliable solutions to management teams. We specialise in arranging deals funded by private equity and venture capital, new or portfolio, including leveraged bank debt funded deals, with no minimum size.
Since our inception 1980 we are responsible for implementing billions of pounds of sums assured. Trusted with providing bespoke total solutions on behalf of some of the country’s high profile individuals and deals. We never miss our instructed objective meeting the Condition Precedent. Throughout our thirty two year history, we are proud maintaining an unprecedented 100% positive payment of valid claims amounting to tens of millions of pounds paid to private equity investee portfolio companies.
“We have been working with Deal Assured as our keyman partner for over 10 years. They have never let us down and constantly exceed expectations both in terms of the quality of service and ability to meet demanding
timescales.” Simon Inchley, Gresham Private Equity
46 Author Viewpoint
JE: What developments in the market have you observed over the last 10 years? SN: We have practiced for over thirty one years now and are constantly evolving our proposition whilst developing strategic long term relationships. Private equity deals i.e. Management Buy Outs (MBOs) have influenced and shaped the commercial landscape over this period of time and we have adapted to deliver the appropriate deal critical total solutions.
JE: What do you anticipate the next 10 years to bring? SN: Times are a constantly changing. The European Court of Justice (ECJ) ruling cannot be used when calculating the cost of assurance premiums. The ruling took effect on the 21st December 2012.
With deal size increasing (demanding higher sums assured), lifestyles becoming ever more complex, international business travel, terrorism, hazardous pursuits, access to alcohol and drugs combined with a trend towards obesity (average American now weighs 25lbs more than in 1970), underwriting is becoming increasing difficult leading to escalating premiums. Therefore we anticipate private equity will demand ever more transparency of the management teams they invest and our specialist service will play an increasingly important role. n
Risk and Insurance in Private Equity and M&A 2012/13
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