Catlin teams up with China Re
Saturday 19 November 2011
The Lloyd's of London insurer Catlin has formed an alliance with China Re that will inject Chinese funds into the London market and enable the British insurer up to exploit opportunities in Asia.
Catlin, which operates one of the biggest underwriting syndicates at Lloyd's, said it would form a new entity called "Syndicate 2088".
China Re will provide the capital for the venture, while Catlin will manage it. The establishment of Syndicate 2088 will also mark the first time that a Chinese-based company has directly invested in a Lloyd's of London syndicate, Catlin said.
Stephen Catlin, the chief executive, said the partnership would increase Catlin's understanding of the Chinese market. He added: "This alliance will create a new Lloyd's special purpose syndicate, providing reinsurance support that will allow Catlin to take greater advantage of improvements in many business classes without the need to increase capital."
Earlier this week, Catlin said that a wave of natural disasters this year, including an earthquake and tsunami in Japan, had resulted in $670m (£423m) losses so far.
newsFormer soldier taped 33 of the animals to the floor and then stamped on them one by one
Michelle Nijhuis' daughter insists (s)he is, and she learnt a valuable lesson on gender in books
Geoffrey Macnab reviews American Hustle, also starring Christian Bale and Bradley Cooper
news Opponents claim it would stop performers such as Beyonce and Madonna appearing on TV
It takes a platoon of chefs, litres of brandy and rum, and almost 100kg of dried fruit
newsThat most ancient of crimes is on the rise, threatening farmers' livelihoods, community trust – and human health
Sun will 'flip upside down' within weeks, says Nasa
Lee Rigby murder: How killers Michael Adebolajo and Michael Adebowale became ultra-violent radicals
Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
Paul Walker death caused by speed alone
Apollo Theatre collapse: Scores injured after ceiling collapses in London's West End
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 North Koreans are gasping for the truth: Let's give it to them
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 Christmas comes early: Justin Bieber is 'retiring from music'
- 5 Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
- < Previous
- Next >
iJobs Money & Business
£55000 - £120000 per annum: Pro-Recruitment Group: The Financial Services Tran...
£600 - £700 per day: Harrington Starr: Client based in West London is looking ...
£80000 - £120000 per annum + Benefits: Pro-Recruitment Group: Risk - Delivery/...
£Negotiable: Citifocus: This is a new role carrying responsibility for a numbe...