30 Jul 15: CFC Underwriting has hired Matthew Giddings to drive the development of a new transactional liability team for the specialist lines underwriting agency.
A former lawyer with Fox Williams and Clifford Chance, Matthew joined Beazley in 2012 as an underwriter in its transaction liability team underwriting warranty and indemnity as well as tax and contingent insurance in the context of private equity and strategic mergers and acquisitions.
Andrew Holmes, CFC’s Chief Underwriting Officer, says: “Transactional liability is becoming a fast growing area of the global insurance market as strategic acquisitions and the divestment of non-core assets becomes ever more sophisticated. However, it is an area that can be challenging when it comes to securing capacity and so there are, perhaps unsurprisingly, relatively few suppliers. As a specialist lines underwriting agency with a particular focus on emerging risks, we want to build a solution for brokers that is easy for them to access and that delivers effective protection for their clients.”
Holmes continues: “Matthew has tremendous experience underwriting this class of business and his strong legal background gives him great insight into the risks these types of transactions present. I’m delighted to welcome him to the CFC team and look forward to supporting him as he develops what we believe will be an exciting new line of business.”