DUAL, the underwriting arm of the Hyperion Insurance Group, announced that its Frankfurt and London-based M&A Liability team is open for business.
Niki Demirbilek joins as global head of M&A Insurance, supported by up to EUR/USD 50 million of A-rated capacity from DUAL’s global partner, the company said in a statement. The team will focus on European business initially with ambitions to move into Asia Pacific and the U.S.
A qualified lawyer, Demirbilek began her career at Norton Rose before moving into insurance. Previously, she held senior roles in Germany at AIG and then Zurich, where she headed their M&A business.
DUAL’s M&A products will provide protection against the risks associated with a merger, acquisition or capital restructuring. These products will help fill a significant gap in the market, DUAL said, noting that M&A liability insurance is underserved in Germany. Even the London market has few insurers with the specialist underwriting expertise necessary to support the largest transactions, the company said.
Shane Doyle, DUAL CEO, commented, “M&A is a critical new class of business for us and yet another opportunity for DUAL to demonstrate the breadth of our product offering and responsiveness to the needs of our customers. We have been fortunate to attract Niki and her team, some of the best known and most respected underwriters in these lines.”
Demirbilek will be joined by Janin Kauffmann, a lawyer specializing in M&A, who also joins from Zurich, and Jaco van der Merwe who joined DUAL last year, having held a number of senior roles at AIG within financial lines. Demirbilek and Kauffmann will be based in Frankfurt, while van der Merwe will be based in London.
DUAL said the M&A team has ambitious expansion plans and further hires are expected.
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