Catlin Re Switzerland, the European reinsurance company currently being formed by Catlin Group Limited, headquartered in Zurich, has announced two additions to its underwriting staff.
Christophe Chandler, currently a Class Underwriter specializing in property reinsurance for Catlin Bermuda, has been appointed as Head of the Property Portfolio for Catlin Re Switzerland. In addition, Jean-Pierre Portman, formerly a Director at Swiss Re, has joined Catlin Re Switzerland, specializing in trade credit and surety reinsurance.
Catlin announced earlier this year that it had applied to the Swiss Financial Market Supervisory Authority (FINMA) to establish Catlin Re Switzerland.
The new division will “allow Catlin to write classes of European reinsurance business that are not currently underwritten elsewhere within the Catlin Group, including trade credit, surety, property and other classes of specialty reinsurance,” the bulletin explained.
Catlin Re expects to receive regulatory authorization to begin writing business from the first of January 2011, beginning with renewals.
Peter Schmidt, CEO-European reinsurance at Catlin and CEO of Catlin Re Switzerland, commented: “I am happy to announce that Christophe Chandler and Jean-Pierre Portmann have joined Catlin Re Switzerland.
“Christophe is well known to European insurers from his work as an international property reinsurance underwriter at Catlin Bermuda, and he is therefore the ideal person to lead our property underwriting team.
“Jean-Pierre’s extensive experience as a trade credit/surety reinsurance underwriter and his longstanding relationships with many professionals in that market further strengthens our trade credit/surety reinsurance underwriting capabilities.”
Chandler has worked at Catlin since 2002 specializing in property reinsurance, first as an Assistant Underwriter in London, then as a Class Underwriter in London from 2003- 2006 and in Bermuda from 2006-2010. He began his insurance career with Willis as a surety broker and joined Cox Insurance in 1998.
Prior to joining Catlin, Portmann worked for 14 years at Swiss Re, most recently serving as a Director in the Credit & Surety Department. His main duties included client management and underwriting for large European and Latin American trade credit and surety clients. Before joining Swiss Re, he held various positions with UBS.
Catlin Re Switzerland will be established as a subsidiary of Catlin Bermuda (Catlin Insurance Company Ltd.) and will be capitalized at more than US$1 billion. Much of that capital will be allocated to a Bermuda branch of Catlin Re Switzerland, which will be established upon authorization by the Bermuda Monetary Authority. The Bermuda branch will initially underwrite reinsurance of various Catlin Group subsidiaries; this reinsurance is currently written by Catlin Bermuda. This structure will provide the Group with increased capital flexibility.
Source: Catlin Group
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