Following a slowdown in M&A deals and activity in 2024 and early 2025, there are expectations of growth going forward (subject to geopolitical instability and monetary policies which may create uncertainties), with private equity funds again playing an important role in the Italian M&A landscape. In such a scenario, it is reasonable to expect growth for warranty and indemnity (W&I) and transactional products, though many expect that terms will remain favourable for insureds, given the likely strong competition between insurers. Such growth may be coupled with a material increase in claims volume, with the main focus on tax and financial statements warranties. Transactional products focusing on mitigation of tax risks will also possibly be on the rise (even beyond M&A deals). A thorough understanding of the market conditions and of the Italian litigation and arbitration landscape – in a space with very few known precedents – will be a key factor in handling the expected flow of claims in line with the possible market growth.