The Bermuda-based Catlin Group Limited announced plans to establish four new European offices in early 2007 in Paris, Barcelona, Zurich and Innsbruck. “The new locations will build on Catlin’s strategy to open offices in key cities worldwide to access business that would not ordinarily be underwritten by one of Catlin’s four underwriting platforms, which further diversifies Catlin’s risk portfolio,” said the bulletin.
“The offices will also allow Catlin to work more closely with European clients and their brokers on a local basis. Each of the offices will provide access to underwriters specializing in all classes of business underwritten by Catlin worldwide.”
Underwriters in each office “will specialize in writing certain classes of business” said the bulletin: It described the parameters as follows:
– Catlin France in Paris will specialize in underwriting inland marine and cargo insurance.
– Catlin Iberia in Barcelona will specialize in underwriting cargo business for clients in Spain and Portugal.
– Catlin Switzerland in Zurich will specialize in underwriting construction all-risk (CAR) insurance.
– Catlin Austria in Innsbruck will specialize in underwriting inland marine and cargo insurance.
Once the new offices are up and running Catlin will have six places of business on the European continent.Catlin Germany in Cologne was established in 2003 and underwrites specie, marine hull, cargo, general aviation and terrorism insurance and property insurance for film productions. Catlin Belgium in Antwerp was established in 2005 and underwrites cargo, film property and marine hull insurance.
Chief Executive Stephen Catlin commented: “The new European offices to be established by Catlin early in 2007 continues the Group’s strategy to take advantage of new business opportunities wherever possible, to diversify our book of specialty business, and to develop closer relationships with clients and brokers on a local level. The opening of these offices, combined with our pending offer to acquire Wellington Underwriting plc, will ensure an exciting start to 2007 for Catlin.”