XL Catlin has announced that they have acquired
Brooklyn Underwriting.
The international firm announced that the acquisition will be made by an indirect wholly owned subsidiary of XL Group and will see the firm acquire both Brooklyn Underwriting and Brooklyn IT from beneficial owner Paul Hines.
Robin Johnson, country manager of XL Catlin’s Australian operations, said that the business intends to keep the Brookyln brand.
“Brooklyn have built a successful business reaching across Australia and are recognised for their innovative products, broker-friendly technology and customer service,” Johnson said.
“In recognition of their reputation we intend to maintain the strong Brooklyn brand.”
David Porteous, director of Brooklyn, said that joining an international leader will help develop the Brooklyn business.
“With a strong position in the Australian specialty market and an established brand, we look forward to draw from XL Catlin’s vast capabilities, global expertise, financial strength and strong reputation for claims service,” Porteous said.
Brooklyn has operated in the Australian market for more than two decades and works alongside over 700 brokers in Australia.
The transaction is expected to be closed in the beginning of the fourth quarter of 2016.
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