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W&I Insurance


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Our underwriters are market leaders in offering W&I and Tax insurance in the Middle East and Africa.

Brockwell MEA launched at the beginning of 2023 with lead Lloyd’s insurance capacity from Chaucer to better service the growing demand for insurance in the region. Our Team recognised the need for dedicated, unencumbered transactional insurance solutions for targets with material exposure in the Middle East or Africa.

Brockwell’s long-established international underwriting experience and appetite has continued to evolve to address the insurance needs of clients across a broad spectrum, but in particular those of inbound investors, sovereign wealth funds, and domestic investment funds within the MEA region.

The Team have already structured insurance solutions in most jurisdictions in MEA and we are committed to providing our market-leading service to clients, professional advisers, and brokers in the region.

And afterwards our Claims process is capable of dealing with complex matters as efficiently as possible and is supported by robust Risk Capital from major insurers.

For more information about Brockwell and our appetite see About Us and Risk Appetite.

Get a quote here.


Limit of Liability

Up to £30m or local equivalent.

Enterprise Value

No restrictions.

Our core appetite is for deals <£1bn.


No restrictions.

Our appetite is for where the rule of law is consistently applied.


No restrictions other than depository or investment banks and insurance companies.

Synthetic W&I

Available on a case-by-case basis. See here.


Buy-side or sell-side offered.

Policy Period

Up to 7 years from completion.


Standard W&I policy exclusions apply.

See here.


Underwriting is a quick process that involves reviewing the due diligence reports and a short Q&A process with the buyer and its due diligence team in order to understand the target business.

Generally, we will not offer terms for transactions where written legal, financial and tax due diligence undertaken by external specialists is not available.

Yes. As we review the due diligence reports in order to get comfortable we require that it is written down. To the extent issues are partially explored or omitted we will need to raise Q&A to understand the position (and potentially exclude cover where information is not available).

W&I policies do not insure future events and so where there is a gap between signing and completion with warranties repeated at both dates a bring down of disclosure is required at completion. At bring down of disclosure any newly identified matters will be disclosed and so excluded from cover by the warranties given on the completion date.

New breach cover is a policy enhancement, which was developed by Brockwell’s underwriters, by which the W&I policy takes on the risk of warranty breaches arising between signing and completion.

This policy enhancement is available on a case-by-case basis for an additional premium. Typically we will offer this for deals where the gap between signing and completion is expected to be no more than two months.

Where the warranties given by a seller are all given subject to the awareness of the seller, this awareness qualifier can for an additional premium be disregarded (or ‘scraped’) for the purposes of the W&I policy.

The W&I policy would still implement an awareness qualification to specific warranties where such qualification would be in-line with market practice.

A synthetic tax covenant (or ‘phantom tax covenant’) contained in a W&I policy is a tax covenant that is given by the insurer as an indemnity within a buy-side W&I policy instead of by the seller.

This is available for an additional premium and operates in the same manner as a conventional tax covenant. It is often used as a way to limit the costs of negotiating a tax deed/covenant between transaction parties.

Where a matter is noted in due diligence, but is theoretical in that it does not relate to a substantive identified risk and is classified as a low, very low or remote risk and the quantum is not material, then notwithstanding the reference in the due diligence (for an additional premium) we may be able to undertake further underwriting and offer cover for such identified matter.

We are only able to offer affirmative cover where the risk noted in the due diligence is straightforward, we do not consider the quantum to be material, and there is sufficient due diligence (or further information available) to allow us to understand the risk.

Tax insurance provides an indemnity to the policyholder for an identified tax risk. We regularly cover international risks between £1m and £45m to assist buyers with managing risks identified during due diligence. For more information click here.

This insurance provides protection against uncertain legal interpretation. The policy includes an indemnity for an identified risk and can be used in both a contentious and non-contentious context. For more information click here.