XL Catlin hired two new additions to its team of Mergers and Acquisitions insurance underwriters – one is a veteran executive from Allied World Assurance Company.
Naveed Khalidi comes to XL Catlin from Allied World, where he most recently was Senior Underwriter for transactional liability insurance. Before that, he served as Senior Claims Analyst at Allied World and at Uni-Term Claims Service Corporation.
Michelle Jensen, meanwhile, is coming to the insurer and reinsurer from Ice Miller LLP, where she practiced as a Mergers and Acquisitions Associate advising the firm’s M&A clients on complex business transactions spanning multiple industries.
Joseph Laws, Head of M&A Insurance, North America said in prepared remarks that Khalidi brings to the table specialized background and claims experience that will help XL Catlin grow its U.S. business, and also strengthen existing relationships with clients and brokers.
Michael McGowan, Head of M&A Insurance, North America who co-leads XL Catlin’s M&A practice alongside Laws, noted in prepared remarks that Jensen’s “legal experience executing M&A and private equity transactions as well as her experience negotiating transactional risk insurance coverage for such deals will be an asset to our team.”
XL Group recently reported $319 million in net income in the 2018 second quarter, up from $301.6 million over the same period a year ago. The company also booked, in part, a 10.6 percent increase in P/C gross premiums written over the 2017 second quarter. AXA will be acquiring XL Group (XL Catlin’s parent) for $15.3 billion, and the deal is slated to go through late this year.
Source: XL Group