Aon marks real estate M&A product launch with new hire
Aon’s M&A and Transaction Solutions (AMATS) division has announced the expansion of its team with the appointment of Harriet Clarke as Director...
...alongside the launch of Aon’s Real Estate Solution for M&A transactions (ARES).
Harriet is a solicitor who joins the team from PWC where she served as head of the corporate real estate legal function. Her focus at Aon will be on real estate deals and advising on Aon’s transaction solutions in the market.
Her arrival has been timed to coincide with the launch of ARES, a new transaction solutions product which has been specifically designed for clients in the real estate sector, particularly those who are buying real estate via M&A transactions and wish to protect their investments up to the full value of the asset in question.
The product will provide a combination of traditional warranty and indemnity insurance and more tailored cover relating to risks that are specific to real estate deals. The cover includes cover on a contingent indemnity basis for some real estate-specific risks. This allows for a more streamlined claims process for these risks with access to funds faster than when making a claim traditionally under a warranty and indemnity policy. The AMATS team is closely aligned with Aon’s specialist legal indemnities team who provide a broad range of other solutions for complex identified real estate risks which might be encountered both pre and post transaction and which may complement the ARES coverage.
ARES will comprise both primary and excess cover, given the need to secure 100 percent of purchase price limits in respect to the title and capacity warranties.
Simon Tesselment, Chief Broking Officer, M&A and Transaction Solutions, EMEA, Aon said “I am delighted to welcome Harriet to the team, and pleased to announce the launch of ARES, which has been designed specifically with the needs of our clients in the real estate sector in mind. Harriet brings a wealth of technical and market expertise that will be invaluable as we continue to focus on providing our clients the highest quality of service with tailored, cutting-edge products that can bring real value.”