Aon secures over $26m in APAC transaction claims

Disclosure failures and inaccurate accounts rank amongst the region’s main loss drivers.

Transaction risk insurance is becoming more important in Asia-Pacific (APAC) as Aon secured more than $26m in claims over the past three years, including several high-value claims.

According to Aon's 2026 Global Transaction Solutions Claims Study, warranty and indemnity (W&I) insurance and standalone tax liability insurance are now widely used in mergers and acquisitions across the region, supported by growing underwriting capacity and increased adoption in markets such as India, Singapore and South Korea.

Aon said claims in APAC are increasingly similar to global trends, with disclosure issues, inaccurate financial statements, compliance breaches and tax-related exposures amongst the main causes of losses. 

The firm also noted that businesses are becoming more confident in using transaction risk insurance after seeing successful claims recoveries.

According to Aon's internal claims data, clients in North America recovered more than $1b from transaction solutions claims in 2025, with average payouts exceeding $10m and median payments above $8.2m, both record highs.

The report found that claims activity has expanded beyond Australia and New Zealand into India, South Korea and Southeast Asia as the market matures. 

Standalone tax liability insurance is now commonly used in India and is gaining wider adoption in South Korea, Japan, China and

Australia to cover tax risks such as capital gains tax exemptions, withholding taxes and net operating losses. Aon expects claims activity to continue rising as more policies mature.

APAC is also seeing more high-severity claims, particularly in large and cross-border transactions, with several exceeding $10m. 

Tax and regulatory issues account for some of the region's largest claims and can emerge several years after a deal closes. 

Whilst operational and disclosure-related claims usually arise within the first year after completion, tax-related claims may not be reported until more than five years after a policy begins because of audit and enforcement timelines.

The 2026 Global Transaction Solutions Claims Study is based on Aon's experience supporting more than 2,000 transaction-related claims and securing over $3b in recoveries worldwide.