随着亚洲公司在全球范围内的并购需求快速增加，该地区的交易特征也变得较之其他地区更加复杂和难以预测。 如何充分理解并有效地将并购交易风险转移给第三方（如保险公司），对于专业服务提供商在市场中保持竞争力至关重要。

虽然市场上有各种能够降低并购交易风险的保险产品，但是没有一种产品像交易责任保险（简称“W&I保险”）那样被行业参与者广泛使用。W&I保险通常被用于解救陷入僵局的交易，或是作为由于卖方违反买卖协议内的保证条款而导致的交割后隐含风险（例如法律责任和负债）的解决方案。

W&I保险为并购交易方提供了已知且固定的保费成本，因此交易方得以将因违反保证条款而导致的财务损失风险转移给保险公司，促成并购交易的完成。

作为该行业全球最大的保险经纪人（排名依据保额体量与保单持有量），我们特别强调了亚洲地区W＆I保险的战略用途、承保范围及主要条款，用以说明W&I保险能够满足买卖双方在并购交易中的各种需求。

As Asian companies become more acquisitive across the world, deals often play out more unpredictably here as compared to other regions. A full grasp of understanding how such associated risks could be allocated to third parties (such as insurers) efficiently is essential to remain competitive in this market.

There are various insurance products that could de-risk M&A transactions, none as widely used by key players across various industries as Warranty and Indemnity (W&I) Insurance. W&I Insurance are often utilized in deadlocked transactions or to address post-closing concerns or contingent liabilities due to breach of warranties given by sellers under the sale and purchase agreement.

By transferring the risk of financial loss arising from breaches of warranties discovered post-closing to insurers for a known, fixed, premium cost, W&I insurance can allow parties to successfully conclude an M&A transaction.

As the largest broker globally in this industry (by limits placed and policies written), we have prepared this presentation to highlight the strategic uses, scope of coverage and key terms of W&I Insurance in Asia, to illustrate how concerns of both the buyer and seller in an M&A transaction may be met with optimal outcomes through the placement of W&I insurance.