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“‘Well, that went fast’ is a phrase that when the dust had settled at the end of 2023 the team at REassurance stopped and took a moment to look back on the year that had just passed and the year ahead. This edition of our usual January newsletter is a little bit delayed as we have got off to a very busy start to the year in 2024.
With the summer season well and truly upon us, it’s the time when we sit down to review the first half of the year, give our summary and some key highlights and share some of our experiences, at the same time, trying to look ahead and gaze into the future of what might happen between now and the end of the year – I make no apologies if my crystal ball needs new batteries! One of the satisfying parts of writing REflections is that it gives us a wonderful opportunity to look back on what we’ve achieved.
The growth of renewable energy projects across Europe has accelerated hugely in recent years driven by a number of factors be they environmental, governmental or greater concern and desire to protect the planet we inhabit.
Warranty & Indemnity (W&I) Insurance (also known as Representations & Warranties Insurance) is a tailored insurance product to cover losses arising from breaches of warranties given by sellers in the context of M&A acquisitions. It is seen as an alternative to the traditional indemnification set up in M&A transactions and can be called a tool to transfer liability from the seller to the insurer.
Title insurance is a well known and frequently used insurance in commercial real estate transactions. In CEE using title insurance on real estate investment transactions is market practice in multiple jurisdictions. Although the product has been widely available for many years there can still be some uncertainty as how or when it can be used. As title insurance becomes more cost effective, we believe that it will continue to be widely used on real estate investment transactions.
Taxation is one of the most politicised areas of law and therefore frequently subject to change. This means that businesses and their advisors have the ever more complex job of keeping up to date with a vast amount of frequently changing rules. Tax insurance is a developing insurance market. The scope and availability of cover is evolving and there is multiple tax risk that can be covered by insurance. Just to name a few, it is possible to obtain cover for the tax, interest, penalties, defence costs and gross-up in the event the insurance proceeds were to be subject to tax.
The resources of the PRS sector in Poland are growing. More and more apartments are built for institutional lease, which also has a significant impact on developers’ results. This growing housing trend deserves particular attention among investors.
January has that wonderful way of driving new inspirations and reinforcing your drive and determination to focus on what is ahead. For us at REassurance it’s a time to be positive. We have a lot to consider and despite some of the negativity that surrounds the current state of the real estate market in CEE we are hitting the ground running. We are delighted to have further strengthened our senior team with the addition of Karol Iwanowski who joins us with an impressive track record.