XL Catlin has launched a new Global Mergers and Acquisitions Insurance Division to look for potential investment opportunities, the company announced today.
Former AIG veteran Brian Benjamin has been appointed global head of the division, leading the effort into the rapidly expanding M&A market. Benjamin’s initial focus will be on hiring underwriting teams to design a suite of transactional risk products that will allow XL Catlin's customers to maximize deal valuations and enhance the bid process, the company said.
Benjamin will be based in New York and report to Dan Kumpf, chief executive of the insurer’s global professional leadership team.
"M&A activity remains robust following last year's record year, and more importantly the transactional insurance market continues to experience rapid growth as these products are now being used more regularly by buyers and sellers to quantify, price and allocate risk," said Kumpf, in a statement. "I am excited about expanding our product offerings across XL Catlin's global footprint with the addition of a seasoned professional like Brian. Brian has played an important role in the M&A insurance market having developed AIG's underwriting model and spearheading the launch of their transactional risk practice.”
