Regional brokers set to benefit from new Catlin start-up
Catlin Insurance, the Bermuda insurance underwriting subsidiary of Catlin Group, has applied to the UK Financial Services Authority for approval to establish a UK branch Office. The subsidiary will be managed by Andreas Loucaides, chief executive, and Richard Clapham, underwriting director, both of whom were formerly key executives of PRI Group.
The Catlin Group said it intends to underwrite speciality lines of insurance and reinsurance attaching from 1 January 2004 from the branch. In a statement it stressed much of this business will be written in parallel with Lloyd's Syndicate 2003, which is managed by Catlin Underwriting Agencies, also a subsidiary of the Catlin Group.However, Catlin added that CIUK will write 100% of some classes of business on a stand-alone basis and will develop further the syndicate's existing book of UK
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