XL Catlin increases M&A insurance capacity to $60m
XL Catlin has extended its global mergers and acquisitions (M&A) capacity by 20% to $60m. The insurer said the move was “in order to better address the transactional liability insurance needs of clients, brokers and other deal professionals”.
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 $3trn 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 offers M&A insurance for various risks associated with mergers and acquisitions, divestitures, spinoffs, private equity investments and other commercial transactions. It has teams of underwriters in London and New York with 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,” said Joseph Laws, head of M&A insurance, North America.
Mr Laws co-leads XL Catlin’s M&A practice alongside Michael McGowan, head of M&A insurance, North America.
