XL Catlin appoints new Asia executive
XL Catlin has extended its global mergers and acquisitions (M&A) capacity to $60 million, an increase of 20 percent.
According to the company the extension is in order to better address the transactional liability insurance needs of its clients, brokers and other deal professionals.
Explaining the extension, 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 $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 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; and non-tax contingent liability insurance.
“In today’s global business environment we want to ensure that our clients have access to the appropriate capacity,” said 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. “The additional capacity reflects our ongoing commitment to the growing needs of our clients around the world.”
XL Catlin, M&A, capacity, extension