Intellectual property

This follows the insurer reporting $56.4mn of losses from intellectual property business in Q2.

Sources cited numerous issues with how collateral protection insurance was designed.

The new product is backed by Tokio Marine Kiln and initially aimed at UK businesses, with plans to expand internationally.

M&G investments has committed the capital through its Catalyst private assets strategy.

As Adidas terminated its partnership with Kanye West following his antisemitic tweets, it projected a loss that signalled why insurers should be pushing the need for brand reputation insurance.

The intellectual property specialist has also worked at Munich Re and Miller.