XL Catlin strengthens its mergers & acquisitions capabilities

New product aims to bridge gaps that may hinder the completion of high-value corporate transactions

XL Catlin strengthens its mergers & acquisitions capabilities

Insurance News

By Gabriel Olano

Global insurance group XL Catlin has expanded its product offering for companies engaging in merger and acquisition (M&A) activities in the international market. In order to facilitate the delivery of its product, the company has also made three key hires for its global team.

The new corporate insurance solution is designed for both private equity firms and strategic buyers, as well as for owners and managers looking to divest from a business. The company claims the product enables more efficient execution of deals by third party advisors and helps clients maximize deal valuations and bridge other gaps that may prevent completion of deals.

The suite, which covers up to US$50 million per transaction, has four major components:
  • Buyer Side Representation and Warranty Insurance also known as Warranty and Indemnity
  • Seller Side Representation and Warranty Insurance also known as Warranty and Indemnity
  • Deal Contingent Tax Insurance
  • Deal Contingent Specific (Non Tax) Risk Insurance

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Brian Benjamin, global head of M&A insurance at XL Catlin commented: “2016 was the second-best year for dealmakers since the financial crisis with an annual total of US$3.6 trillion worth of transactions, and we anticipate that trend to continue, along with the expansion of the M&A transactional risk insurance market. In this very competitive environment, deal professionals and their brokers across the world are looking for innovative solutions to support their acquisitions or sales.”

As part of XL Catlin’s strengthening of its M&A insurance capabilities, it has also hired the following:

Richard Winborn, head of M&A insurance, joined the team on Monday. He is based in London and will manage XL Catlin’s M&A portfolio in Europe, the Middle East, Africa and Asia Pacific. He has 15 years’ experience in the M&A field, 10 years of which is in the insurance side, working for Liberty Specialty Markets and Zurich Insurance. He also practiced M&A law for five years.

Hillary Weiss, M&A underwriter for the Americas, also joined on Monday. Based in New York, she came from AIG, where she worked as an M&A insurance specialist.

Reagan Tanley, M&A underwriter for the Americas, will begin on May 08. She has worked in several research roles in private equity, with the most recent as equity research associate at CLSA.

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