XL Catlin adds stand-alone clinical trials solutions to its Life Science insurance offering in Germany
Cologne, Germany - December 16, 2016
XL Catlin’s insurance operations in Germany today announced the addition of a stand-alone clinical trials solution for Life Science clients.Life Science companies are operating in an increasing complex and litigious environment. They are producing a steady stream of new products and innovations for which they need equally innovative insurance solutions. Clinical trials are a key element in confirming the effects of a new product, and are an essential stage in bringing them to market.Commenting Frank Wernecke, XL Catlin’s Head of International Casualty insurance in Germany said: “We have been successfully providing Life Science solutions for a wide range of clients, from start-ups to global players. Our coverages are designed to support these companies’ right from the development phase, to market entry and mass distribution. I am very pleased that we can now also support those companies looking for stand-alone coverage for risks associated with clinical trials.”Dieter Goebbels, Country Manager Germany and Regional Manager DACH and Benelux, Insurance, added: Life science includes biotech, cosmetics, pharmaceutical and medical devices. If we count pharmaceuticals alone, Germany is the fourth largest market in the world and sales are forecast to reach more than $43 billion in 2018 according to Deloitte.To meet the increasing demand for insurance solutions we strengthened our team in Germany earlier this year and are now able to offer tailored stand-alone solutions for clinical trials to support this market and its growth.”About XL Catlin’s Insurance OperationsXL 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 CatlinXL Catlin is the global brand used by XL Group Ltd’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.