FBD Insurance has announced its relationship with global insurance provider XL Catlin to offer new products to Irish businesses. XL Catlin is part of the New York stock exchange-listed company XL Group, which offers property, casualty, professional, financial lines and specialty insurance products globally.

Small to medium enterprises

Fiona Muldoon, chief executive of FBD, said: “FBD is committed to providing the best insurance cover possible for Irish small to medium enterprises.” She added that this new product will sit alongside existing products to address the needs of FBD business customers in an area where it did not provide cover previously.

A key feature of the deal is that it allows FBD Insurance to have a professional indemnity and directors and officers liability product underwritten by its new partner in the Irish market. FBD, which operates through a network of 33 offices nationwide, did not offer cover in this particular area before.

David Gallagher of XL Catlin, which has operated in Ireland since 1990, said it is one of the largest underwriters of this type of business in Ireland. The group, with $58bn of total assets and $13.6bn of gross written premiums last year, operates globally and is A+ rated by S&P.

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