BHSI Taps AIG Veteran to Lead Global Transactional Liability Push

BOSTON & LONDON – March 04, 2026 – Berkshire Hathaway Specialty Insurance (BHSI) has announced a significant leadership appointment, naming M&A insurance veteran Rory O’Broin as its new Global Head of Transactional Liability. The move signals a strategic intensification of BHSI's focus on a complex and rapidly evolving global market, positioning a leader with deep legal and tax expertise at the helm of its expanding operations.

O’Broin’s appointment is a clear indicator of the insurer's ambitions in the transactional risk space, which provides critical coverage for mergers and acquisitions. "We are delighted to welcome Rory to BHSI and look forward to the significant contribution he will make to our Global Transactional Liability business,” said Hilary Browne, Global Chief Underwriting Officer at BHSI, in a statement. "His appointment underscores our continued commitment to strengthening our global capabilities in this rapidly evolving market and to delivering tailored, high‑quality solutions for our customers.”

A Strategic Hire for Complex Risks

Rory O’Broin joins BHSI from AIG, where he served as M&A Group Counsel and led the international practice group for Tax and Contingent Liability. This background provides him with a unique blend of legal acumen and specialized insurance expertise, particularly in the niche but growing areas of tax and contingent risk underwriting. His experience is seen as a direct match for the market's current trajectory, which is marked by increasing deal complexity and a higher frequency of claims.

In his previous role, O'Broin gained a reputation for his analytical approach to tax-related claims in M&A deals, an area that has become a major pain point for dealmakers and a significant growth driver for insurers. The demand for tax insurance surged in 2024, spurred by new legislation like the Inflation Reduction Act in the U.S. and a greater understanding of the product's value among corporate buyers.

O'Broin's expertise in contingent liability—insurance for known legal or regulatory risks that could derail a transaction—is also highly relevant. Demand for these bespoke solutions grew considerably in 2024 as companies sought creative ways to manage litigation risks and other uncertain outcomes during M&A processes. By appointing a leader with a proven track record in these sophisticated product lines, BHSI is equipping itself to handle the most intricate cross-border transactions.

Navigating a Rebounding M&A Market

The appointment comes as the global transactional liability market is navigating a period of significant change. After a lull in 2023, global M&A activity rebounded in 2024, with deal volume reaching US$3.4 trillion, an 8% increase. This resurgence, particularly strong in North America, has fueled demand for transactional risk insurance products like Representations & Warranties (R&W) and Warranty & Indemnity (W&I) insurance.

The market has been intensely competitive, with an influx of new underwriting capacity leading to favorable conditions for insurance buyers through most of 2024. Pricing for primary layer R&W and W&I policies saw double-digit decreases across major regions. However, this trend may be shifting. Industry reports suggest that a notable rise in both the frequency and severity of claims—with increases of 70% in the UK and 45% in Europe in 2024—is prompting underwriters to be more cautious. Market analysts anticipate that insurance rates may begin to stabilize and potentially increase through 2025 as insurers recalibrate their risk appetite in response to higher claim payouts.

In this environment, an insurer's ability to underwrite complex risks accurately and manage claims effectively becomes a key differentiator. BHSI's emphasis on its experienced teams and in-house M&A claims professionals, combined with the financial strength of its parent company, Berkshire Hathaway, provides a strong foundation. O'Broin's leadership is expected to further sharpen this competitive edge.

A Deliberate Global Expansion

O’Broin’s appointment as the Global Head is not an isolated event but the latest move in BHSI’s multi-year strategic expansion in the transactional liability sector. The company has been methodically building its presence and capabilities across key international markets.

This global build-out began in earnest in January 2019, when BHSI extended its North American transactional liability operations into the UK and Europe. Just a few months later, in April 2019, it launched its offerings in Asia and the Middle East. The insurer has continued to invest in these regions, appointing a new Head of Transactional Liability for Asia and the Middle East in August 2023 to drive growth from its Singapore hub, and naming a new head for its Canadian operations in March 2024.

This pattern demonstrates a clear strategy: establish a foothold in a key region, build a team of local experts, and integrate it into a global network. By placing O'Broin in a global oversight role, BHSI is now focused on unifying this worldwide strategy, ensuring consistency, and leveraging its scale to serve large, multinational clients with deal values ranging from $25 million to over $5 billion.

The London Advantage

The decision to base O’Broin in London is strategically critical. London is not just another financial capital; it is the world’s largest and most important hub for commercial and specialty insurance. The London Market, which includes the historic Lloyd’s of London, controls 9% of the global reinsurance market and is the go-to destination for placing large, complex, and novel risks. Every one of the world's top 20 insurance firms maintains a significant presence there.

For transactional liability, London's ecosystem of elite legal firms, M&A advisors, and specialist underwriters is unparalleled. Its strategic location bridges time zones between Asia and the Americas, and its legal system, based on English common law, underpins a vast number of international contracts.

By placing its global leader in London, BHSI embeds its transactional liability strategy at the very heart of the international risk transfer industry. This position allows O'Broin to maintain a direct line of sight into European and cross-border deal flow, tap into a deep well of industry talent, and stay at the forefront of product innovation. It reinforces BHSI's commitment to being a central player in the global M&A landscape, capable of providing sophisticated solutions for the most challenging cross-border transactions from a hub renowned for its expertise. The move solidifies the insurer's global structure, connecting its established North American business with its growing operations across Europe and Asia under a single, experienced leader.