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 coverages 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 $50 million 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 work in these product areas are the following individuals:
- Richard Winborn, who joined 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. Winborn has 15 years’ transactional experience, 10 of which have been gained in the insurance industry, after having spent five 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 hHead of M&A Insurance for Zurich Insurance Plc in the UK.
- Hilary Weiss joined as underwriter, M&A, Americas, based in New York.Weiss joins from AIG where she was an M&A insurance specialist.
- Reagan Tangney will join on May 8 as underwriter, M&A, Americas, based in New York. Tangney has held a number of research roles in Private Equity with KKR and most recently with CLSA as an Equity Research Associate.
XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally.
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