July 2010

Catlin to establish Catlin Re Switzerland in the Greater Zurich Area

Catlin Group Limited, an international specialty property/casualty underwriter, is to form a reinsurance company in Zürich to expand its European-based reinsurance business.

Pending regulatory approval by the Swiss Financial Market Supervisory Authority (FINMA) to establish Catlin Re Switzerland, it will have capital of at least USD 1bn from internal resources.

Catlin Re Switzerland will expand its portfolio of treaty reinsurance business, concentrating on risks and areas of distribution that are not currently underwritten elsewhere within the Catlin Group. It will recruit its new underwriting teams in the Greater Zurich Area.

«The formation of Catlin Re Switzerland will allow the Catlin Group to quickly take advantage of favorable opportunities as they arise in the European reinsurance market», the company said. Stephen Catlin, Chief Executive of Catlin Group Limited added. «Our ambition is to build Catlin Re Switzerland over time to become a leading European specialty reinsurer.»

About Catlin Group Limited
Catlin Group Limited is an international specialist property and casualty insurer and reinsurer, writing more than 30 classes of business. Catlin operates four underwriting platforms - the Catlin Syndicate at Lloyd's, Catlin Bermuda, Catlin UK and Catlin US - as well as a network of international offices.

www.catlin.com

News archive