Catlin Underwriting Agencies Limited
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The Catlin Group has successfully grown from a Lloyd's marine syndicate with gross premiums written of $6 million in 1985 (on a Lloyd's accounting basis), its first full year of operation, to an international insurance and reinsurance group with $1.2 billion in gross premiums written in 2003 and which underwrites a wide range of business classes at Lloyd's, in Bermuda and in the UK company market. Our ExpertiseCatlin Group Limited is an international specialist property and casualty insurer and reinsurer, writing 31 classes of business from three underwriting platforms. Catlin's forward looking approach to business, its realistic and flexible approach to underwriting cycles and its commitment to underwrite for profit on a gross basis have allowed the Group to grow significantly and consistently over its 20 year history. This philosophy has also allowed Catlin to produce consistent returns in excess of the industry average. The Group operates three underwriting platforms. The Catlin Syndicate (Syndicate 2003) at Lloyd's carries on the Group's historic base at Lloyd's of London, where Catlin is recognised as a leading underwriter of numerous classes of business. The Catlin Syndicate is one of the 10 largest syndicate at Lloyd's in 2005 in terms of premium capacity. Historically, the Catlin Syndicate and its predecessors have been among the top performing syndicates at Lloyd's over the past 20 years. Catlin Bermuda (Catlin Insurance Company Ltd.) began underwriting in 2002 and has quickly become a recognised source of property and casualty reinsurance as well as specialty insurance products in the Bermuda market. Catlin UK (Catlin Insurance Company (UK) Ltd.) began operations in 2004. It specialises in underwrites property and casualty coverages for small to medium size UK commercial clients, although it writes all lines of business underwritten by the Catlin Group in London. While based in London, Catlin UK also operates from offices in Glasgow, Leeds and Derby. The Catlin Group prides itself on both its commitment to client service and its financial security. All three Catlin underwriting platforms - the Catlin Syndicate, Catlin Bermuda and Catlin UK - have been assigned an 'A' (Excellent) financial security rating by A.M. Best Company. Our Services |
6th Floor Tel. +44 (0)20 7626 0486 HISTORY The origins of Catlin Group Limited date back to 1984 when Catlin Underwriting Agencies Limited (CUAL) was established by Stephen Catlin to manage newly formed Lloyd's marine Syndicate 1003, which commenced underwriting for the 1985 year of account on behalf of capital provided by traditional Lloyd's Names. From 1985 to 1995 Syndicate 1003 grew under CUAL's management from a start-up operation with premium capacity of £6 million ($10 million) into one of the largest syndicates trading at Lloyd's with capacity of £170 million ($304 million). Syndicate 1003 established a track record as one of the most successful syndicates at Lloyd's, not only by outperforming the market average since 1988 but also by closing every year of account at a profit during a period which saw unprecedented losses at Lloyd's. In 1995 following an investment in the Group by Western General Insurance Ltd. of Bermuda for a majority ownership stake, Syndicate 2003, now known as the Catlin Syndicate, was formed to write in parallel with Syndicate 1003 for the 1996 Lloyd's year of account under the common management of CUAL. Syndicate 2003 was and is entirely capitalised by the Catlin Group, while Syndicate 1003's capital continued to be supplied by the traditional Lloyd's Names. In late 2002 the Group purchased the residual capacity of Syndicate 1003 from Lloyd’s Names and other external capital providers. This capacity was consolidated into Syndicate 2003, thereby further increasing its capacity. |