LONDON and NEW YORK, April 25,
2017 /PRNewswire/ -- XL Catlin has expanded its suite of
Mergers & Acquisitions (M&A) insurance products aimed at
supporting deals in the global transactional risk market, and has
further strengthened its global team with three key hires.
The solutions are designed for both private equity firms and
strategic buyers, as well as for owners and managers looking to
exit a business, with an added focus on helping third party deal
advisors execute deals faster and more efficiently. The coverages
allow clients to maximize deal valuations, enhance the bid process
in competitive auctions, and bridge gaps which may otherwise
prevent parties from completing a deal.
With up to $50M in capacity per
transaction, the suite is made up of four core products:
- 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
Joining XL Catlin to help deliver these solutions globally to
market are the following individuals:
- Richard Winborn, who
joined yesterday as Head of M&A Insurance, International, based
in London, will be responsible for
managing XL Catlin's M&A portfolio in Europe, the Middle
East, Africa and
Asia Pacific. Mr. Winborn has 15
years' transactional experience, 10 of which have been gained in
the insurance industry, after having spent 5 years practicing law
at DACbeachcroft. Most recently he held the position of Head of
Specialty products at Liberty Specialty Markets. Prior to that, he
was Head of M&A Insurance for Zurich Insurance Plc in the
UK.
- Hilary Weiss who also
joined on April 24th as
Underwriter, M&A, Americas, based in New York. Ms. Weiss joins from AIG where she
was an M&A Insurance Specialist. She holds a JD degree from
Brooklyn Law School.
- Reagan Tangney will join
on May 8th as Underwriter, M&A,
Americas, based in New York. Ms.
Tangney has held a number of research roles in Private Equity with
KKR and most recently with CLSA as an Equity Research Associate.
She graduated from the College of the Holy
Cross with a B.A. in Political Science and from Columbia University with a Master's in Business
Administration.
Noting the demand for coverage, Brian
Benjamin, Global Head of M&A, insurance at XL Catlin
said: "2016 was the second-best year for dealmakers since the
financial crisis with an annual total of $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."
Mr Benjamin continued: "I am delighted to have strengthened the
team across geographies with the hiring of these talented and
experienced individuals and believe we are extremely well
positioned to deliver innovative solutions which will ultimately
support our clients to get a deal done."
About XL Catlin 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 Group plc