XL Catlin boosts global M&A team with new hires from Liberty and AIG

Re/insurer XL Catlin has expanded its mergers and acquisitions (M&A) insurance product suite while strengthening its global team with three key hires.

Richard Winborn has been appointed as the head of M&A insurance, international, based in London. He will be responsible for managing XL Catlin's M&A portfolio in Europe, the Middle East, Africa and Asia Pacific.

Winborn most recently held the position of head of specialty products at Liberty Specialty Markets. Prior to that, he was the head of M&A insurance for Zurich Insurance in the UK.

The company has also hired Hilary Weiss and Reagan Tangney as underwriters, M&A, Americas, based in New York.

Weiss joins XL Catlin from AIG where she was an M&A insurance specialist. Tangney has held a number of research roles in private equity with KKR and most recently with CLSA as an equity research associate.

Brian Benjamin, global head of M&A, insurance at XL Catlin, said: "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."

XL Catlin has also launched a new M&A insurance suite with a capacity of up to $50 million per transaction. 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, according to a company statement.

"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," Benjamin commented.

"In this very competitive environment, deal professionals and their brokers across the world are looking for innovative solutions to support their acquisitions or sales."

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