Allied World North America, part of Allied World Assurance, has introduced a new Mergers & Acquisitions (M&A) line for the Canadian market, in a bid to expand its professional lines business.
Allied World Assurance senior vice-president and Canada specialty lines head Kent Paisley will head the new business.
Initially, the new business will offer products, including representation and warranty insurance, tax opinion liability, specific contingency insurance, loss portfolio transfers and loss mitigation insurance/litigation buyout.
Allied World North America president Lou Iglesias said: "M&A activity is on the rise and our suite of products addresses the full spectrum of risks that may be identified during negotiations.
"This latest launch builds on our ongoing commitment to creating a portfolio of specialty lines tailored to meet the unique exposures of our clients in Canada. Our team has extensive insurance industry experience and experience working directly on M&A transactions in the country."
In April, Allied World Assurance signed an agreement with Royal & Sun Alliance Insurance (RSA) to acquire its Hong Kong and Singapore operations for around $215m.
Allied World Assurance, through its subsidiaries, offers property, casualty and specialty insurance and reinsurance solutions.
Image: Allied World North America has introduced new mergers and acquisitions coverage for Canadian market. Photo: courtesy of Stuart Miles/FreeDigitalPhotos.net.