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.