Singapore Branch

RNS Number : 0263X

Catlin Group Limited

07 January 2014

 



CATLIN INSURANCE COMPANY LTD.

ESTABLISHES SINGAPORE BRANCH

SINGAPORE - Catlin Group Limited ('CGL'; London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces the formation of the Singapore Branch of Catlin Insurance Company Ltd. of Bermuda.  Catlin Insurance Company Ltd. (Singapore Branch) writes specialty lines of direct insurance in Singapore and reinsurance throughout the Asia-Pacific region.

Catlin Insurance Company Ltd (Singapore Branch) or 'CICL (SG Branch)' was established following the grant of a direct licence on 23 December 2013 by the Monetary Authority of Singapore.  CICL (SG Branch) commenced operations with effect from 1 January 2014 and will be managed by Catlin Singapore Pte. Ltd., Catlin's current Singapore-based underwriting operation.

Catlin has been underwriting local and regional business from its Singapore office since 1999 on behalf of Catlin's syndicate at Lloyd's of London. The establishment of CICL (SG Branch) allows Catlin Singapore to write business on behalf of either the new branch or the Lloyd's Syndicate, depending on broker or client preference.  Catlin offers the same level of service to brokers and clients choosing either type of paper, including Catlin's renowned claims service.

The licence granted to CICL (SG Branch) covers all lines of business currently underwritten by Catlin in the Asia-Pacific region.  CICL (SG Branch) writes direct business in Singapore and reinsurance throughout the region.  Focus areas for the new branch include:

·     Treaty Reinsurance

·     Accident and Health

·     Property

·     Aviation

·     War and Terrorism

·     Casualty and Financial Lines

·     Energy

·     Credit and Political Risk

·     Marine

·     Construction and Engineering

Mark Newman, Chief Executive Officer of Catlin's Asia-Pacific underwriting hub based in Singapore, said:

"We are pleased to announce the establishment of a Singapore Branch of Catlin Insurance Company Ltd.  The formation of CICL (SG Branch) underscores Catlin's firm commitment to our clients in Singapore and the Asia-Pacific region and allows Catlin to expand our product offering in the region."

Catlin Insurance Company Ltd. ('CICL') is the most senior operating company in the Catlin Group and is recognised worldwide as one of the leading Bermuda-domiciled reinsurers. Like Catlin's other underwriting subsidiaries, CICL has been assigned a financial strength rating of 'A' (Excellent) by A.M. Best and 'A' (Strong) by Standard & Poor's.

- ends -

For more information contact:

Media Relations:
James Burcke,	Tel:	[phone]
Head of Communications, London	Mobile:	[phone]
	E-mail:	[e-mail]
Liz Morley, Maitland	Tel:	[phone]
	E-mail:	[e-mail]
Investor Relations:
William Spurgin,	Tel:	[phone]
Head of Investor Relations, London	Mobile:	[phone]
	E-mail:	[e-mail]

Notes to editors:

1.   Catlin Group Limited, headquartered in Bermuda, is an international specialist property/casualty insurer and reinsurer that underwrites worldwide through six underwriting hubs. Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). More information about Catlin can be found at www.catlin.com.

2.   Catlin Asia-Pacific is based in Singapore, where Catlin first opened an office in 1999. Catlin was one of the first companies to set up a Lloyd's underwriting operation in the Asia-Pacific region, and the Group currently maintains regional offices in Singapore, Labuan and Kuala Lumpur, Hong Kong, Shanghai, Beijing, Sydney, Melbourne, Tokyo and Mumbai.

3.   Apart from its Asia-Pacific underwriting hub, Catlin has established other hubs in London, Bermuda, the United States, Europe and Canada. Through these hubs, Catlin works closely with policyholders and their brokers. The hubs also provide Catlin with product and geographic diversity. Altogether, Catlin operates more than 50 offices in 22 countries.

4.   Catlin's underwriting units are rated 'A' by A.M. Best and Standard & Poor's.

5.   Catlin is the title sponsor of the Catlin Seaview Survey, a major scientific expedition that is documenting the composition and health of coral reefs around the world. During 2012 the Survey investigated the Great Barrier Reef off Australia, whilst during 2013 it is studying coral reefs near Bermuda, in the Caribbean and elsewhere in the world. The scientific data gathered by the Catlin Seaview Survey is intended to strengthen the understanding of how climate change and other environmental changes are likely to affect ocean ecosystems. More information is available at www.catlinseaviewsurvey.com.

 

END

 

 

MSCDBGDBUXGBGSL