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M&A insurer Icen Risk expanding into US

Specialist mergers and acquisitions insurer Icen Risk on Wednesday announced its expansion into the United States.

The move comes six months after a strategic equity investment from Zurich Insurance Group, which is providing $50 million in capacity.

Icen will initially offer U.S. private equity, investment funds and corporates with specialist cover for tax risks and representations and warranties, operating out of New York and London.

Chad Wilson will head up the tax liability insurance offering; Jonathan Sprintz will head reps and warranties.

The U.S. mergers and acquisitions insurance market has experienced double-digit growth every year over the past five years, Icen Managing Principal Dawn Bhoma said in a statement.

Icen was founded in 2018 by Ms. Bhoma and Rob Brown.