New underwriter Longbrook Insurance plans to offer transaction liability and energy cover globally from early next year.

Shaun Reynolds – formerly Sydney-based AIG mergers and acquisitions underwriter for Asia-Pacific – has been appointed head of transaction liability in London.

The UK-headquartered underwriter is being launched by insurance aggregator Macquarie Insurance Facility, part of Macquarie Asset Management.

“I am very honoured to lead the Longbrook transaction liability team as we build something truly differentiated,” Mr Reynolds said.

His team will offer M&A insurance, including warranty and indemnity and tax liability cover.  

The energy team will provide property damage and business interruption cover for construction and operation of energy assets, with a focus on the transition to renewables.  

Both lines will support clients worldwide.

Macquarie Insurance Facility global head Nick Wilski says Longbrook is “well placed to build on the strong foundations of our distribution model and extensive relationships with brokers to develop best-in-class solutions”.

MIF aggregates about $US1.8 billion ($2.79 billion) of premium a year from private equity, infrastructure, energy and real estate firms.