XL Catlin and new insurtech-focused program administrator Bamboo Insurance have entered into an underwriting agreement to provide property insurance in California.
Bamboo Insurance is a California-based program administrator focused on distribution of personal lines products within California. Through the XL Catlin Company, Catlin Insurance Company, Inc., Bamboo is offering homeowners HO-3 and fire, dwelling products.
XL Catlin works with program administrators to provide customized general and specialty property, casualty and professional mono-line and package programs.
John Welch, XL Catlin chief executive, Reinsurance North America, said the timing was right for the company to bring “a fresh approach and new capacity to the California insurance market.”
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