Beazley to Insure Risks Relating to Mergers and Acquisitions

John McNally joins company to lead growth of business

London, February 11 2010

Beazley has appointed John McNally to head a new team in London focusing on insuring the contingent risks that can otherwise impede merger and acquisition (M&A) transactions.

Mr McNally joins Beazley from AIG where he managed the M&A insurance practice for nearly six years.  He will underwrite a variety of M&A-related risks for transacting parties worldwide, including warranty and indemnity, tax, and contingent liability cover.  He will report to Neal Wilkinson, head of Beazley’s global management liability team.

Mr Wilkinson said: 

“M&A activity contracted significantly around the world in 2008, but is now beginning to recover.  We are also seeing evidence that buyers are adopting a more cautious approach and are more likely to require that contingent risks be transferred via insurance before a transaction can be closed.  John is extremely experienced in these specialist lines of insurance and is well equipped to help us realise the opportunities that current market conditions present.”

Mr McNally said: 

“I am delighted to be joining Beazley.  The keys to success in this market are flexible underwriting and flawless execution.  Brokers and clients are used to receiving both from Beazley.”

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