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Global Transactional Risk Report

Asia

Global macroeconomic and geopolitical pressures weighed heavily on overall M&A activity in Asia in 2022.
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By Haoren Fu , 

Head of Transactional Risk, Asia

23/02/2023

Global macroeconomic and geopolitical pressures weighed heavily on overall M&A activity in Asia in 2022.

The effect was most pronounced in North Asia, mainly due to foreign exchange volatility for dealmakers in Japan and South Korea, Greater China’s pandemic controls, and rising interest rates across the region. In spite of the challenging circumstances, transactional risk insurance placements in 2022 remained resilient, helped by the continued stability of Southeast Asia’s M&A market and the strength of the market in India.

Overall, closed deal counts decreased only slightly — by 12% — compared to 2021’s record-breaking levels, total limits placed grew by 35.6% over the previous year, and the combined number of primary and excess policies placed by Marsh Asia increased from 197 in 2021 to 205 in 2022.

The average premium rate for Asia increased slightly from 2.25% in 2021 to 2.32% in 2022. As with Marsh’s experience in EMEA, this average was a blend of an elevated pricing environment during the earlier part of the year that shifted downwards in the second half. This change was mainly due to reduced deal activity easing constraints on underwriting bandwidth and increased competition between insurers for engagements throughout the region.

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Global Transactional Risk Report 2022

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