Global insurer QBE has appointed Reuben Lee (pictured) as transactional liability lead for Asia, marking the company’s first Asia-based hire in the transactional liability insurance (TLI) space, the company announced Thursday.
Lee joins QBE from Willis Towers Watson (WTW), where he served as broking director, leading mergers and acquisitions (M&A) risk advisory mandates across Singapore, Hong Kong, and Southeast Asia. Prior to WTW, he was a senior underwriter at Ryan Transactional Risk. He also established the Singapore office and led the Asia offering for Transact Risk Partners – the trading name for Castel Underwriting Agencies Limited – before Castel’s acquisition by Ryan Transactional Risk.
In the newly created role, Lee will provide strategic direction for underwriting QBE’s TLI portfolio in Asia, with a focus on growth and risk management in the M&A insurance space, according to a news release. He will be based in QBE’s Singapore office and report to Arati Varma, head of financial lines and liability for QBE in Asia.
Toria Lessman, global head of transactional liability at QBE, said Lee’s background positions him well for the role. “We’re confident his legal expertise and senior underwriting experience will make him an asset to QBE,” Lessman said. “TLI continues to be an area of expansion for us, and we’re excited to bring the next phase of this growth to Asia.”
Varma said the appointment reflects Asia’s growing role in QBE’s global strategy. “Reuben’s appointment underscores the growing importance of Asia in QBE’s global transactional liability strategy,” she said. “His regional expertise and strong underwriting foundation will help us deepen our presence and better support the fast-evolving M&A landscape across Asia.”
QBE introduced its TLI practice in London at the start of 2023 in response to growing demand. The practice has since expanded across Europe, including Italy, Germany, France, the Nordics, and Spain.
The appointments comes as the transactional risk insurance market has expanded sharply. In 2024, Marsh reported placing nearly $68 billion of transactional risk cover across more than 2,700 policies worldwide, a sharp increase from the year prior. Once concentrated in Europe and North America, warranty and indemnity insurance has since become a fixture in transactions across Asia-Pacific and Latin America.
