The Catlin Group Limited (CGL) announced from its Singapore, office the formation of the General Aviation Consortium at Lloyd’s Asia to write General Aviation insurance and reinsurance risks based in the Asia-Pacific and Middle East regions, as of April 1, 2014.
“The Consortium offers a comprehensive solution for General Aviation risks by providing 100 per cent capacity for aircraft with up to 50 seats,” Catlin said. “The Consortium is led by Catlin Singapore and supported by other participants in the Lloyd’s Asia platform.
Under Catlin’s leadership, the Consortium will provide a fast and efficient service through dedicated and experienced underwriting and claims teams, alleviating the need to deal with multiple insurers / reinsurers.”
Bobby Heerasing, Chief Underwriting Officer of Catlin’s Asia-Pacific underwriting hub, said: “With the General Aviation Consortium, brokers and cedants can enjoy an enhanced and highly competitive product offering through a convenient single point of contact, combined with the benefit of Lloyd’s ‘A’ rated security.”
The Consortium offers the following capacity:
Hull / Hull War $15,000,000
Liability (including PPH) $150,000,000
Crew / Passenger Personal Accident $500,000
The members of the consortium provide the following line sizes: Catlin Singapore (Leader) 45 percent; Amlin Singapore 25 percent; Talbot Singapore 20 percent; Argoglobal Underwriting Asia Pacific 10 percent.
Source: Catlin Group