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Manuel Andrés Giner
New York-based managing director, Euclid Transactional LLC
New York-based senior vice president, Euclid Transactional LLC
I think representation and warranty insurance still has some room to grow as strategic buyers continue to develop comfort with the product and insurers look to underwrite bigger and smaller enterprise value transactions as a way of maintaining growth and diversifying their risk portfolio. That said, the industry is at an inflection point. Over the preceding growth period, markets have generally competed on price, coverage and execution. These factors remain important, but as policies mature, the industry has seen material claims filed and paid, which has given insurers and MGAs the opportunity to separate themselves and demonstrate value to their clients. Euclid has handled hundreds of claims and paid out over $100 million to clients in 2019 alone. How carriers manage claims will be important to their business going forward and the legitimacy of this product in the industry.
At Euclid Transactional, this experience has brought a wealth of information and data points relevant to underwriting, claims handling and our clients. My goal is to use this information to continue to inform our underwriting strategy and to develop market insights that benefit our clients and carrier partners.
We’ve seen the R&W market expand and soften during the longest economic expansion in United States history. The M&A market has not asked the R&W industry to react to and perform during an economic downturn or a period of economic uncertainty. Ensuring that the markets continue to provide excellent coverage and client service when it is most important, while maintaining sound underwriting standards, will be the challenge over this year.
For as long as I’ve been a professional, I’ve been involved in M&A in some capacity. I started my career as an attorney at Debevoise & Plimpton where I advised clients on a wide range of corporate matters, including corporate finance and mergers and acquisitions. I moved from the law firm to start underwriting R&W at a leading international insurance company and came to Euclid in 2017.
My advice would be to treat your colleagues in the industry as partners and not as adversaries. Demonstrating your technical abilities and familiarity with the deal process is important, but your ability to maintain, develop and deliver on your relationships in this space will separate you from what is a continuously growing crowd.
Give me the reins to any Major League Baseball team. I would certainly prove inadequate to the task, but I would have a good time failing.
I majored in history with concentrations in Latin American and the United States.
We have a talented and experienced underwriting team, and I am excited to take an active role in building on our reputation for excellence as the industry continues to develop, while maintaining and contributing to our culture of inclusivity.
The food is less important to me than the company. My evenings with takeout and my family have always been the most memorable to me.
My favorite book is usually the one I just finished, but there is a story in “Islands in the Stream” that describes a father’s grief over the passing of his children. It is both haunting and devastating and has stuck with me, while everything else I’ve read slowly fades from memory.
I’ve set some lofty fitness goals for myself that I spend a lot of time trying to achieve. It’s been going more poorly than well, but I’ve managed to turn it into an enjoyable use of my free time.
I’m not ashamed to admit that I’m currently enjoying HGTV renovation shows. You can’t beat plenty of drama with a big happy payoff in the end.
On Saturdays I perform my role as an Instagram husband.