In an effort to better address the transactional liability insurance needs of clients, brokers and other deal professionals, XL Catlin has announced an extension of its global Mergers and Acquisitions (M&A) capacity by 20% to $60 million.
XL Catlin offers M&A insurance for a number of risks associated with mergers and acquisitions, divestitures, spinoffs, private equity investments and other commercial transactions. Providing bespoke coverage and unique risk shifting arrangements, the M&A insurance group can help facilitate transactions and add value for all parties.
Dan Kumpf, Chief Underwriting Officer (CUO) of 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 has the capability to underwrite deals globally thanks to its growing team of underwriters in London and New York. And are therefore able to offer coverage in core areas such as Representation and Warranty Insurance, Tax Liability, Tax Opinion 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. The additional capacity reflects our ongoing commitment to the growing needs of our clients around the world,” added 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.