XL Reinsurance America acquires Allied International
XL Reinsurance America, the indirect wholly-owned subsidiary of insurance company XL Group, has completed its acquisition of Allied International Holdings, the holding company of Allied Specialty Insurance and THE Insurance Company, an insurer of the outdoor entertainment industry in the US.
XL announced it intended to acquire Allied International back in August, 2015.
“We’re pleased to officially welcome our Allied colleagues to XL Catlin,” said Mike McGavick, chief executive officer of the XL Group.
“Their underwriting expertise in this niche specialty risk business along with their exceptional client service further enhances our ability as a leading provider of specialty insurance and reinsurance to meet the ever evolving needs of clients in the entertainment industry.”
Mary Chris Smith, chairman and president of Allied Specialty Insurance, added: “We’re proud to be an official part of XL Catlin.
“Given the success of Allied and XL Catlin’s individual track records in the specialty underwriting area, we are confident that together this is a winning combination for Allied, XL Catlin and our clients.”
