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XL Catlin Extends Global Mergers & Acquisitions Insurance Capacity
PR Newswire
LONDON and NEW YORK, May 16, 2018
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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.
SOURCE XL Catlin
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.