XL Catlin Completes Acquisition of Brooklyn Underwriting Agency in Australia
SYDNEY, AUSTRALIA - October 04, 2016
XL Catlin today announced that it has completed the acquisition of Brooklyn Underwriting Pty Limited and Brooklyn IT Pty Limited (“Brooklyn”), a market-leading underwriting agency in Australia and a Lloyd’s approved coverholder, serving brokers across the country. The acquisition was completed by an indirect wholly-owned subsidiary of XL Group Ltd (“XL”) (NYSE: XL).
“We are delighted to officially welcome our Brooklyn colleagues to the XL Group family of companies” commented Craig Langham, XL Catlin’s Regional Chief Executive Asia Pacific, Insurance. “Still operating under the Brooklyn brand, we expect them to continue their market success and further strengthen their position in the important SME market.”
Robin Johnson, Country Manager of XL Catlin’s Australia insurance operation, said: “Brooklyn will be great partners for us. We will rely on their efficient distribution model to provide XL Catlin’s broad range of products to their SME broker and client base, further expanding our reach in the Australian market.”
“We’re excited to be joining the XL Catlin teams as an official part of Group,” said David Porteous, Director of Brooklyn. “We are confident that our clients and brokers will benefit from access to an expanding suite of innovative insurance solutions, and our team will benefit from the Group’s broader resources.”
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Located in Sydney Australia, Brooklyn Underwriting Pty Ltd and Brooklyn IT Pty Ltd (Brooklyn) is a specialist underwriting agency that has been operating in the Australian wholesale insurance market for over two decades. Brooklyn is part of XL Group, through its subsidiaries and under the XL Catlin brand, a global insurance and reinsurance company. Brooklyn’s insurance products are customized market specific solutions that are supported by a specialist underwriting team with recognized experience in SME, Property, Casualty, Professional, and Specialty. To learn more, visit brooklynunderwriting.com.au.
About XL Catlin
XL Catlin is the global brand used by XL Group Ltd (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.
About XL Group Ltd
XL Group Ltd (NYSE:XL), through its subsidiaries and under the XL Catlin brand, is a global insurance and reinsurance company providing property, casualty 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.
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