QBE appoints Asia lead for transactional liability

Global insurer QBE has appointed Reuben Lee as Transactional Liability (TLI) Lead for Asia, creating its first Asia-based TLI underwriting role to steer growth and risk management for mergers and acquisitions insurance across the region from its Singapore office, effective immediately and reporting into its Asia financial lines leadership.

New role targets Asia’s busy M&A pipeline

The position did not exist a year ago, which hints at how quickly transactional risk cover has moved from niche product to near-necessity for complex deals, especially in cross-border transactions that span Singapore, Hong Kong, and wider Southeast Asia.

Lee brings a mixed legal and insurance background. According to QBE, he joins from Willis Towers Watson, where he was Broking Director running mergers and acquisitions risk advisory mandates across Singapore, Hong Kong, and Southeast Asia. Before that, he worked as Senior Underwriter at Ryan Transactional Risk, and earlier helped set up the Singapore office and Asia offering for Transact Risk Partners, the trading name for Castel Underwriting Agencies Limited, ahead of Castel’s acquisition by Ryan Transactional Risk.

QBE expands transactional liability footprint

QBE’s transactional liability practice, first introduced in London at the beginning of 2023, was built in response to rising demand and the track record of similar products in other markets. Since launch, the practice has expanded across Europe, taking in Italy, Germany, France, the Nordics, and Spain, and is now pushing more decisively into Asia.

Lee will report to Arati Varma, Head of Financial Lines & Liability for QBE in Asia. His remit covers strategic direction for underwriting the Asian portfolio, balancing growth targets with discipline around deal risk in a region where valuations, legal frameworks, and seller expectations can vary sharply from market to market.

Toria Lessman, Global Head of Transactional Liability at QBE, said, “We’re pleased to welcome Reuben and we’re confident his legal expertise and senior underwriting experience will make him an asset to QBE. TLI continues to be an area of expansion for us and we’re excited to bring the next phase of this growth to Asia.”

Varma added, “Reuben’s appointment underscores the growing importance of Asia in QBE’s global transactional liability strategy. His regional expertise and strong underwriting foundation will help us deepen our presence and better support the fast-evolving M&A landscape across Asia.”

Why this matters for dealmakers

For buyers and sellers, transactional liability insurance typically covers unknown risks in a deal, such as breaches of warranties, helping negotiations move faster and, in theory at least, with fewer last-minute disputes over indemnities. Having an experienced underwriter based in Singapore rather than in London or another hub could shorten response times on Asian transactions and give QBE a closer read on local deal dynamics.

The move signals that QBE expects sustained activity in Asian mergers and acquisitions and is positioning its transactional liability unit as a long-term player rather than a tentative satellite to its European practice. If the current momentum in dealmaking holds, further regional hires or product refinements could follow, tightening competition amongst insurers in this specialised corner of the market.