XL Appoints Allen to head New financial strains group M&A department

XL group introduced it has added a Mergers and Acquisitions (M&A) insurance division to its monetary strains enterprise and appointed Tim Allen to move the commercial enterprise line as Sr. vice president, international Head of Mergers & Acquisitions insurance.

XL responded to signs for 2014 “that M&A pastime is at the upward thrust,” and, in step with analysts, “a more realistic technique to valuations is being adopted by means of both consumers and sellers. As a end result there is multiplied opportunity for the M&A insurance marketplace, which gives cowl for businesses concerned in a merger/acquisition.”

XL organization’s Louise Dennerståhl, Head of global economic lines, who has identified the possibility, defined: “there's an expectation that over this yr we will see a upward thrust in deal hobby and better profile offers throughout sectors which include retail, actual estate, electricity, telecommunications, generation, prescribed drugs and biotech.

“we've brought an M&A division and appointed Tim, who is highly experienced in this vicinity, so that we can provide the maximum relevant answers, spanning warranties and indemnities and other deal associated cowl, to clients involved in M&A’s.”

“Warranties and indemnities are an critical a part of an M&A deal and the insurance solutions we can offer are frequently an enabling aspect; providing certainty and safety to clients, truly permitting them to do the cope with self belief,” she brought.

Allen is primarily based in London, and is liable for the management, underwriting and development of XL organization’s global M&A insurance providing.

Dennerståhl noted his “very large experience across the M&A landscape which spans now not simplest hazard and insurance however also criminal and compliance. This mixture approach he can layout and provide solutions that are holistic in method and modern in nature.”

Allen joins XL organization from Beazley where, because 2010, he held the location of Underwriter on the Transaction legal responsibility crew, underwriting assurance & Indemnity and Tax and Non-Tax Contingent danger insurance.  among 2007 and 2010 he worked at Marsh Ltd at the non-public equity, Mergers & Acquisitions team. he is a solicitor, and began his career practicing law at CMS Cameron McKenna LLP of their corporate and Leveraged Finance crew.