During that year, the company received a substantial private equity investment from Western General Insurance Company of Bermudawhich was controlled by the Pritzker family. The investment allowed Catlin to establish a second Lloyd's syndicate Syndicatewhich underwrote coverage in parallel with the established Syndicate
The new syndicate provides China Re with a platform to access additional business to complement its existing portfolio of Chinese-based risks and to provide a London market presence to provide better service to existing international clients.
Syndicate continues the strategic partnership that China Re and Catlin established in November In addition, each partner over the past three years has helped the other learn more about their respective markets, and each company has seconded employees to the other.
China Re is the largest reinsurance company in China and is ranked by A. Catlin, through its Asia-Pacific underwriting hub, established underwriting offices in Hong Kong in and Shanghai inas well as a representative office in Beijing in We would also like to thank Catlin Group Limited for its help in the formation of Syndicate and for agreeing to provide management services to the Syndicate in its initial years.
Initially, the open market segment of the portfolio will focus on Property, Marine and Specialty Treaty Reinsurance business, some of which is currently written by China Re and which includes Chinese risks. The syndicate will also continue to write whole-account reinsurance of various Catlin entities.
Over time, China Re will assume responsibility for all of the functions required by the syndicate. Matthew Sage will be the Active Underwriter of Syndicate He joined Catlin in London inconcentrating on the underwriting of Non-Marine reinsurance accounts.
Matthew Sage and Yin Hang will soon be joined by an underwriting team composed of both Chinese and London market professionals.History. Catlin Underwriting Agencies Limited (CUAL) was established as an underwriting agency at Lloyd's of London in by Stephen Catlin, who today remains chief executive of the Catlin Group.
Catlin's first Lloyd's syndicate (Syndicate ) began underwriting in on behalf of Lloyd's Names (private individuals who invested in the Lloyd's market) with a premium capacity of £6 million. Hardy (Underwriting Agencies) Limited for Lloyd’s Syndicate HCC International Insurance Company PLC HCC Underwriting Agency Limited for Lloyd’s Syndicate The Aquiline investment team, led by Jeff Greenberg, the former chairman of Marsh & McLennan Companies, Inc., comprises dedicated investment professionals who have spent the majority of their careers in financial services businesses.
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12 March , London - The Channel Syndicate and Canopius will join Liberty Specialty Markets in forming a consortium to provide capacity for Toredo, an online platform for .
A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and issuer credit rating (ICR) of “a” of the bermuda .