NEW YORK, June 27, 2016 /PRNewswire/ -- As more companies look for merger and acquisition (M&A) opportunities to strengthen market position, expand globally and grow, XL Catlin is building its expertise and suite of products with the formation of the Global Mergers and Acquisitions Insurance Division and the appointment of Brian Benjamin as Global Head to lead the effort into this rapidly expanding market.
Based in New York and reporting to Dan Kumpf, Chief Executive, Global Professional, Mr. Benjamin's initial focus will be on hiring the underwriting teams in New York and around the globe to design a suite of transactional risk products that will allow XL Catlin clients to maximize deal valuations, enhance the bid process in competitive auctions and bridge gaps which may otherwise prevent parties from completing a deal.
"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 Mr Kumpf. "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.
Mr. Benjamin joins XL Catlin with nearly 30 years of global financial lines experience most recently serving as AIG's Management Liability and Financial Institutions Officer. Throughout his career, he has held increasingly senior underwriting management positions, in New York, London and Paris, managing multinational teams to grow multibillion dollar global professional liability portfolios.
Mr. Benjamin received his undergraduate degree in Finance from Pennsylvania State University and his masters of international management from Thunderbird School of Global Management, the oldest and largest graduate school for international business in the United States.
With its market share and underwriting expertise, XL Catlin's Professional team is a market leader in providing Directors & Officers, Professional, Employment Practices, Pension liability, Crime & Fraud and Financial Bond insurance to public companies.
About XL Catlin Insurance Operations
The 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 plc'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.
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SOURCE XL Catlin