XL

 

Underwriter

London

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XL Catlin recently established a new global Mergers & Acquisitions Insurance division focusing on the underwriting of transactional risk insurance solutions for private equity firms and corporates operating around the globe. These products, namely representation and warranty, tax opinion, tax credit and contingent liability insurance are now being used more regularly by buyers and sellers and their advisors to quantify, price and allocate risk. In establishing this business division, XL Catlin is expanding its suite of products to key clients while creating a more efficient means for them to close deals and reduce uncertainty. 
 
Our rapidly growing Mergers & Acquisitions unit is now looking to fill an Underwriter position in its London office to support its business functions. 
 
As an Underwriter you will play a critical role within the team where you will focus on establishing strong relationships internally and externally and act as the critical interface between the broker and clients and the company when underwriting transactional M&A insurance. You are expected to generate profitable premium and develop broker and client relationships as we continue to build out our international underwriting capability. 
 
What will your essential responsibilities include? 

  • Reviewing and analyzing public and private M&A transaction documentation, due diligence reports, and target company financial statements/quality of earnings reports in order to identify deal risks, assess target company financial strength and perform pre-underwriting analysis used in quoting warranty and indemnity insurance. 
  • Drafting and submitting custom-tailored quotes for new proposed M&A insurance policies and following up with brokers to win new business. 
  • Interacting with and supporting senior underwriters on day-to-day business issues and throughout the underwriting process including performing detailed analysis of issues raised on underwriting calls and in due diligence reports. 
  • Negotiating and drafting insurance policy terms and language specifically addressing the risk and issues in each transaction. 
  • Collaborating with and helping supervise outside counsel hired to represent XL Catlin with due diligence on each transaction. 
  • Developing and cultivating relationships with M&A insurance brokers, lawyers, private equity firms, deal principals and internal XL Catlin colleagues. 
  • Gathering underwriting information via the Internet and other publicly available sources and completing underwriting analysis for each unique risk. 
  • Conducting financial analysis on target companies and potential insureds. 
  • Contribution towards the running of the accounts. Monitoring & managing status/progress of accounts implementation from quote processing to policy issuance, premium collection and policy maintenance (certificates, endorsements etc.). 

 You will report to the Underwriting Manager, Mergers & Acquisitions Insurance.
 
We’re looking for someone who has these abilities and skills:

  • Substantial corporate experience working in a transaction-oriented role such as underwriting and analyzing M&A credit facilities, preparing valuation analysis, acting in an investment banking, private equity or other financial services advisory capacity, in-house corporate legal team, internal corporate development team at a strategic acquirer or a transaction advisory services role at an accounting firm, or
  • Some experience as a qualified lawyer with a focus on Merger, Acquisition and other corporate transactional work
  • Basic knowledge of transactional legal exposures (warranty breaches, tax structuring issues, price adjustment mechanisms, litigation, and computation and measure of damages) 
  • Ability to comprehend financial statements and comfort addressing tax issues and other commercial matters. 
  • Financial Accounting / Auditing experience a plus 
  • Specific experience underwriting, procuring, broking or negotiating representations and warranties insurance or other transactional risk insurance on behalf of deal clients is a strong plus
  • Excellent written and oral communication skills
  • Strong negotiating skills and comfort working with legal documents 
  • Self-starter, highly focused, enthusiastic and creative thinker 
  • Strong interpersonal skills and ability to work collaboratively within a team environment is essential
  • Organized, and able to work in a fast paced environment with tight deadlines and deal-time pressures 
  • A 2.1 degree (or higher) in Finance, Accounting, Economics, Law or Business required