LONDON and NEW YORK,
May 16, 2018 /PRNewswire/ -- XL
Catlin today announced that it has extended its global Mergers
and Acquisitions (M&A) capacity by 20 percent to
USD 60 million, in order to better
address the transactional liability insurance needs of clients,
brokers and other deal professionals.
Commenting, Dan Kumpf, Chief
Underwriting Officer, Global Professional Lines said: "XL Catlin
views M&A insurance as a vital tool in driving global M&A
deals; the value of which is expected to exceed USD 3 trillion in 2018. We expect the expansion
of the M&A transactional risk insurance market to continue and
we remain committed to investing in key talent and supporting deal
professionals and their brokers across the world."
XL Catlin's growing team of underwriters in London and New
York has the capability to underwrite deals globally and
offer coverage in the following core areas:
- Representation and Warranty Insurance, also known as Warranty
and Indemnity (Buyer-side and Seller-side)
- Tax Liability, Tax Opinion and other Contingent Tax
Insurance
- Non-Tax Contingent Liability Insurance
"In today's global business environment we want to ensure that
our clients have access to the appropriate capacity. The additional
capacity reflects our ongoing commitment to the growing needs of
our clients around the world," explained Joseph Laws, Head of M&A Insurance,
North America who co-leads XL
Catlin's M&A practice alongside Michael
McGowan, Head of M&A Insurance, North America.
XL Catlin offers M&A insurance for various risks associated
with mergers and acquisitions, divestitures, spinoffs, private
equity investments and other commercial transactions. The M&A
insurance group provides bespoke coverage and unique risk shifting
arrangements that can help facilitate transactions and add value
for all parties.
About XL Catlin's Insurance Operations
XL Catlin insurance companies offer property, casualty,
professional, financial lines and specialty insurance products
globally. Businesses that are moving the world forward choose XL
Catlin as their partner. To learn more,
visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group
Ltd's (NYSE:XL) insurance and reinsurance companies which
provide property, casualty, professional and specialty products to
industrial, commercial and professional firms, insurance companies
and other enterprises throughout the world. Clients look to
XL Catlin for answers to their most complex risks and to help move
their world forward. To learn more, visit xlcatlin.com.
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SOURCE XL Catlin