Definition:Broken links

Definition:Actuary Definition:Actuarial analyst Definition:Actuarial consultant Definition:Actuarial director Definition:Account executive Definition:Account manager Definition:Adjuster Definition:Assistant underwriter Definition:Associate actuary Definition:Audit manager Definition:Bordereaux analyst Definition:Broker Definition:Broking director Definition:Casualty underwriter Definition:Catastrophe modeler Definition:Catastrophe risk analyst Definition:Ceding company officer Definition:Chief actuary Definition:Chief claims officer (CCO) Definition:Chief compliance officer (CCO) Definition:Chief executive officer (CEO) Definition:Chief financial officer (CFO) Definition:Chief information officer (CIO) Definition:Chief marketing officer (CMO) Definition:Chief operating officer (COO) Definition:Chief risk officer (CRO) Definition:Chief underwriting officer (CUO) Definition:Claims adjuster Definition:Claims analyst Definition:Claims assessor Definition:Claims auditor Definition:Claims director Definition:Claims examiner Definition:Claims handler Definition:Claims investigator Definition:Claims manager Definition:Claims representative Definition:Claims specialist Definition:Claims supervisor Definition:Claims technician Definition:Client relationship manager Definition:Commercial lines underwriter Definition:Compliance analyst Definition:Compliance officer Definition:Corporate risk manager Definition:Coverage counsel Definition:Coverholder Definition:Data scientist Definition:Delegated authority manager Definition:Director of underwriting Definition:Distribution manager Definition:Enterprise risk manager Definition:Excess and surplus lines broker (E&S broker) Definition:Field adjuster Definition:Field agent Definition:Financial analyst Definition:Forensic accountant Definition:Fraud analyst Definition:Fraud investigator Definition:General agent (GA) Definition:General counsel Definition:Independent adjuster Definition:Independent agent Definition:Insurance adviser Definition:Insurance analyst Definition:Insurance broker Definition:Insurance commissioner Definition:Insurance consultant Definition:Insurance defense attorney Definition:Insurance producer Definition:Insurance regulator Definition:Insurance surveyor Definition:Lead underwriter Definition:Life underwriter Definition:Line slip leader Definition:Lloyd's broker Definition:Lloyd's underwriter Definition:Loss adjuster Definition:Loss control engineer Definition:Loss control representative Definition:Loss control specialist Definition:Loss reserve analyst Definition:Loss run analyst Definition:Managing director Definition:Managing general agent (MGA) Definition:Managing general underwriter (MGU) Definition:Marine underwriter Definition:Marketing representative Definition:Medical director Definition:Operations manager Definition:Personal lines underwriter Definition:Placement broker Definition:Policy administrator Definition:Policy analyst Definition:Policy processing specialist Definition:Policyholder services representative Definition:Portfolio manager Definition:Premium auditor Definition:Pricing actuary Definition:Product development manager Definition:Product manager Definition:Professional indemnity underwriter (PI underwriter) Definition:Program administrator Definition:Program manager Definition:Property underwriter Definition:Public adjuster Definition:Rating analyst Definition:Regional director Definition:Regional manager Definition:Regulatory affairs specialist Definition:Reinsurance analyst Definition:Reinsurance broker Definition:Reinsurance intermediary Definition:Reinsurance manager Definition:Reinsurance underwriter Definition:Reserving actuary Definition:Retail broker Definition:Risk analyst Definition:Risk consultant Definition:Risk control specialist Definition:Risk engineer Definition:Risk manager Definition:Risk modeler Definition:Sales agent Definition:Senior underwriter Definition:Special investigations unit investigator (SIU investigator) Definition:Staff adjuster Definition:Subrogation specialist Definition:Surplus lines broker Definition:Surveyor Definition:Technical underwriter Definition:Third-party administrator (TPA) Definition:Treaty underwriter Definition:Underwriter Definition:Underwriting assistant Definition:Underwriting manager Definition:Vice president of claims Definition:Vice president of underwriting Definition:Wholesale broker

Here is the filtered and deduplicated list, retaining only terms that are truly specific to M&A transactions (removing general insurance, general finance, general legal, and general regulatory terms):

• • Transaction types and structures**

Definition:Acquisition Definition:Bancassurance acquisition Definition:Business combination Definition:Carve-out Definition:Consolidation Definition:Corporate reorganization Definition:Cross-border merger Definition:Demerger Definition:Divestiture Definition:Equity purchase Definition:Horizontal merger Definition:Hostile takeover Definition:Insurance business transfer (IBT) Definition:Insurance portfolio transfer (IPT) Definition:Joint venture (JV) Definition:Leveraged buyout (LBO) Definition:Loss portfolio transfer (LPT) Definition:Management buyout (MBO) Definition:Merger Definition:Minority stake acquisition Definition:Part VII transfer Definition:Platform acquisition Definition:Reverse merger Definition:Reverse takeover Definition:Scheme of arrangement Definition:Share swap Definition:Special purpose acquisition company (SPAC) Definition:Spin-off Definition:Strategic partnership Definition:Takeover Definition:Takeover bid Definition:Tender offer Definition:Transfer of engagements Definition:Tuck-in acquisition Definition:Vertical merger

• • Deal participants and roles**

Definition:Bidder Definition:Lead adviser Definition:Private equity sponsor Definition:Strategic buyer Definition:Target company Definition:Transaction advisory

• • Valuation and pricing**

Definition:Base purchase price Definition:Control premium Definition:Deal structure Definition:Embedded value (EV) Definition:Enterprise value (EV) Definition:Equity value Definition:Purchase consideration Definition:Purchase price allocation (PPA) Definition:Valuation date Definition:Value creation plan Definition:Value of in-force business (VIF)

• • Price adjustment mechanisms**

Definition:Adjustment mechanism Definition:Closing adjustment Definition:Closing payment Definition:Collar mechanism Definition:Collar (price collar) Definition:Completion account Definition:Completion account mechanism Definition:Completion mechanism Definition:Contingent consideration Definition:Contractual price adjustment Definition:Debt-free cash-free adjustment Definition:Debt-like item Definition:Deemed completion mechanism Definition:Deferred consideration Definition:Deferred payment mechanism Definition:Dollar-for-dollar adjustment Definition:Earn-out Definition:Earn-out adjustment Definition:Earn-out milestone Definition:Earn-out period Definition:Effective economic date Definition:Enterprise value to equity value bridge (EV-to-equity bridge) Definition:Equity ticker mechanism Definition:Excess cash adjustment Definition:Leakage Definition:Leakage covenant Definition:Locked-box account Definition:Locked-box date Definition:Locked-box interest (ticker) Definition:Locked-box mechanism Definition:Locked-box permitted leakage Definition:Loss reserve true-up Definition:Milestone payment Definition:Net cash adjustment Definition:Net debt adjustment Definition:Net working capital target Definition:Permitted leakage Definition:Post-closing adjustment Definition:Post-closing earn-out adjustment Definition:Post-closing true-up Definition:Pre-closing leakage Definition:Pre-closing price adjustment Definition:Price adjustment mechanism Definition:Price chip Definition:Price retention Definition:Purchase price reduction Definition:Reserve adjustment clause Definition:Reserve true-up mechanism Definition:Step-up adjustment Definition:Ticker mechanism Definition:True-up mechanism Definition:Unearned premium reserve adjustment Definition:Unearned premium reserve transfer Definition:Value adjustment Definition:Working capital adjustment Definition:Working capital collar Definition:Working capital peg Definition:Working capital shortfall adjustment Definition:Working capital surplus adjustment Definition:Working capital target Definition:Working capital true-up

• • Warranties, representations, and indemnities**

Definition:Bring-down condition Definition:Bring-down warranty Definition:Catch-all warranty Definition:Compliance warranty Definition:Double materiality scrape Definition:Fundamental warranty Definition:General warranty Definition:Insurance warranty Definition:Knowledge qualifier Definition:Knowledge scrape Definition:Management warranty Definition:Materiality qualifier Definition:Materiality scrape Definition:No-leakage warranty Definition:Regulatory warranty Definition:Repetition of warranty Definition:Representations and warranties (R&W) Definition:Representations and warranties insurance (R&W insurance) Definition:Seller warranty Definition:Solvency warranty Definition:Tax warranty Definition:Title and capacity warranty Definition:Title warranty Definition:Warranty Definition:Warranty and indemnity insurance (W&I insurance) Definition:Warranty breach Definition:Warranty qualifier Definition:Warranty repeater clause Definition:Warranty survival period

• • Indemnification and liability**

Definition:Basket (deductible basket) Definition:Basket threshold Definition:Cap on indemnification Definition:Claw-back clause Definition:De minimis threshold Definition:Environmental indemnity clause Definition:Escrow account Definition:Escrow release condition Definition:Holdback Definition:Indemnification clause Definition:Indemnity cap Definition:Indemnity escrow Definition:Indemnity holdback Definition:Liability cap Definition:Mini basket Definition:No-claim declaration Definition:Retention amount Definition:Seller protection clause Definition:Specific indemnity Definition:Specific tax indemnity Definition:Survival clause Definition:Survival period Definition:Tax covenant Definition:Tax indemnity Definition:Third-party claim procedure Definition:Threshold amount (de minimis) Definition:Time limitation clause Definition:Tipping basket Definition:Tipping basket mechanism Definition:Transaction liability insurance

• • Key clauses and covenants**

Definition:Acceleration clause Definition:Anti-embarrassment clause Definition:Anti-sandbagging clause Definition:Anti-tilting provision Definition:Anti-trust approval Definition:Break fee Definition:Breakup fee Definition:Change of control clause Definition:Change of control notification Definition:Condition precedent (CP) Definition:Condition precedent to completion (CPC) Definition:Condition subsequent Definition:Closing condition Definition:Covenant not to compete Definition:Drag-along right Definition:Exclusivity agreement Definition:Exclusivity period Definition:Good leaver clause Definition:Hell-or-high-water clause Definition:Interim breach clause Definition:Interim operating covenant Definition:Interim period Definition:Key person clause Definition:Long-stop date Definition:Material adverse change clause (MAC clause) Definition:Material adverse effect (MAE) Definition:Merger clause (entire agreement clause) Definition:No-shop clause Definition:Non-compete agreement Definition:Non-solicitation clause Definition:Ordinary course covenant Definition:Outward reinsurance clause Definition:Post-completion covenant Definition:Pre-closing covenant Definition:Pro-sandbagging clause Definition:Regulatory change of control approval Definition:Reverse breakup fee Definition:Sandbagging clause Definition:Tag-along right Definition:Vesting acceleration

• • Due diligence**

Definition:Actuarial due diligence Definition:Buy-side due diligence Definition:Data room Definition:Due diligence Definition:Financial due diligence Definition:Incurred but not reported reserve review (IBNR reserve review) Definition:Independent actuarial opinion Definition:Legal due diligence Definition:Merger control filing Definition:Operational due diligence Definition:Regulatory due diligence Definition:Sell-side due diligence Definition:Tax due diligence Definition:Underwriting due diligence

• • Integration and separation**

Definition:Acquisition integration plan Definition:Day-one readiness Definition:Expense synergy Definition:Integration planning Definition:Integration risk Definition:Post-merger integration (PMI) Definition:Pre-completion reorganization Definition:Separation agreement Definition:Stranded cost Definition:Synergy Definition:Transitional service agreement (TSA) Definition:Transitional trademark license

• • Insurance-specific M&A terms**

Definition:Carve-out financial statement Definition:Economic loss approach Definition:Insurance license transfer Definition:License novation Definition:Standalone financial statement

• • Transaction process and closing**

Definition:Closing date Definition:Co-investment Definition:Finder's fee Definition:Investment banking fee Definition:Initial public offering (IPO) Definition:Sell-side process Definition:Signing date

• • Agreements and principal documents**

Definition:Asset purchase agreement (APA) Definition:Break fee agreement Definition:Business transfer agreement (BTA) Definition:Confidentiality agreement (CA) Definition:Definitive agreement Definition:Employee transfer agreement Definition:Equity commitment letter Definition:Escrow agreement Definition:Exclusivity letter Definition:Expert determination agreement Definition:Heads of agreement Definition:Heads of terms (HoT) Definition:Holdback agreement Definition:Letter of intent (LOI) Definition:Memorandum of understanding (MOU) Definition:Non-disclosure agreement (NDA) Definition:Retention agreement Definition:Share purchase agreement (SPA) Definition:Shareholder agreement Definition:Side letter Definition:Term sheet Definition:Transfer agreement

• • Deeds**

Definition:Deed of adherence Definition:Deed of covenant Definition:Deed of indemnity Definition:Deed of novation Definition:Deed of release Definition:Deed of termination Definition:Deed of transfer Definition:Deed of undertaking Definition:Management warranty deed

• • Process documents**

Definition:Bid letter Definition:Binding offer letter Definition:Board approval resolution Definition:Board information memorandum Definition:Buyer's closing certificate Definition:Capitalization table (cap table) Definition:Closing agenda Definition:Closing bible Definition:Closing checklist Definition:Closing memorandum Definition:Comfort letter Definition:Commitment letter Definition:Company disclosure letter Definition:Completion board minute Definition:Completion statement Definition:Confidential information memorandum (CIM) Definition:Conflict clearance letter Definition:Consent solicitation document Definition:Corporate authority document Definition:Corporate structure chart Definition:Data room index Definition:Data room rules letter Definition:Disclosure bundle Definition:Disclosure letter Definition:Disclosure schedule Definition:Draft share purchase agreement (draft SPA) Definition:Due diligence checklist Definition:Due diligence questionnaire (DDQ) Definition:Due diligence report Definition:Embedded value report (EV report) Definition:Estimated completion statement Definition:Expression of interest (EOI) Definition:Fairness opinion Definition:Fee arrangement letter Definition:Final bid letter Definition:Final offer letter Definition:Financial due diligence report Definition:Financial model Definition:Funds flow statement Definition:Gap analysis Definition:General disclosure Definition:Incurred but not reported analysis (IBNR analysis) Definition:Independent actuarial review Definition:Independent expert report Definition:Indicative offer letter Definition:Information memorandum (IM) Definition:Information request list (IRL) Definition:Insurance license schedule Definition:Insurance portfolio summary Definition:Investment committee memorandum (IC memo) Definition:Investor presentation Definition:IT due diligence report Definition:Key person term sheet Definition:Legal due diligence report Definition:List of material contracts Definition:Litigation schedule Definition:Locked-box completion statement Definition:Loss reserve analysis Definition:Management due diligence report Definition:Management equity plan Definition:Management presentation Definition:Management representation letter Definition:Markup (contract markup) Definition:Material contract summary Definition:Merger filing document Definition:Merger notification form Definition:Non-binding indicative offer (NBIO) Definition:Non-binding offer letter Definition:Non-reliance letter Definition:Notification letter to policyholders Definition:Notification letter to regulators Definition:Offer letter Definition:Operational due diligence report Definition:Outstanding claims schedule Definition:Pension due diligence report Definition:Permitted leakage schedule Definition:Policy register extract Definition:Post-closing adjustment statement Definition:Pre-completion reorganization plan Definition:Process letter Definition:Proof of funds letter Definition:Purchase price allocation report (PPA report) Definition:Q&A log (questions and answers log) Definition:Red flag report Definition:Register of members Definition:Regulatory approval application Definition:Regulatory due diligence report Definition:Reinsurance contract schedule Definition:Reinsurance program summary Definition:Reinsurance recoverables schedule Definition:Reliance letter Definition:Representations and warranties insurance application (R&W insurance application) Definition:Reserve adequacy report Definition:Run-off cost estimate Definition:Run-off plan Definition:Schedule of exceptions Definition:Scheme document Definition:Scheme of arrangement document Definition:Seller's closing certificate Definition:Seller's disclosure schedule Definition:Sensitivity analysis Definition:Share transfer form Definition:Shareholder resolution Definition:Signing protocol Definition:Stock transfer form Definition:Supplementary disclosure letter Definition:Tax clearance application Definition:Tax due diligence report Definition:Tax structuring memorandum Definition:Teaser (blind teaser) Definition:Third-party consent letter Definition:Transaction structure memorandum Definition:Valuation report Definition:Vendor assist report Definition:Vendor due diligence (VDD) Definition:Vendor due diligence report (VDD report) Definition:Vendor financial model Definition:Warranty and indemnity insurance policy (W&I insurance policy) Definition:Working capital analysis Definition:Working capital statement