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Americas M&A manager
American International Group Inc.
Michael Turnbull came to the insurance industry from the legal field. He was a U.K.- and then Hong Kong-based mergers and acquisitions attorney advising American International Group Inc. when he had an opportunity to set up AIG’s Asia transactional risk business. His responsibilities expanded to include Australia and New Zealand, after which he relocated to New York to manage the Americas team.
Best advice you’ve been given
Listen carefully to problems or concerns, and try to think creatively to find a suitable solution.
Top industry concern
There’s been very sudden growth in competition in the M&A insurance space in the last six to 12 months, with a number of new market entrants starting to play in the space. My key concern is how they are establishing themselves in relation to the terms they offer, and whether or not the terms get pushed to a place that makes the business difficult to sustain, bearing in mind that there are claims in this line of business.
Best-kept secret about insurance
It’s fun. The area I work in is a cross between a legal role and a business role, and I’m able to get involved with clients’ transactions and help them execute them in a way that they wish to do so. And it’s been fun doing that.
Next big thing in insurance
I think we will see an increased growth in tax liability insurance. That’s already starting to happen, and I think it will continue.
Hobbies and interests
I am a very keen rugby union fan. I used to play that, and now I’m on the lookout for my favorite U.S. sport.
Something people don’t know about you
I have been shark diving in South Africa.
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