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.
- 1 Germanwings crash: Police make 'significant discovery' at home of co-pilot Andreas Lubitz
- 2 Germanwings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending
- 3 Zayn Malik already working on solo material, just days after quitting One Direction
- 4 The West has it totally wrong on Lee Kuan Yew
- 5 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Zayn Malik gives first interview since quitting One Direction: 'I've never felt more in control of my life'
Germanwings crash: Police make 'significant discovery' at home of co-pilot Andreas Lubitz
Germanwings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending
Saudi Arabia says it won't rule out building nuclear weapons
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Nigel Farage brands LGBT activists 'filth' and 'scum' and accuses them of scaring away his children after they invade his local pub
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Russia threatens Denmark with nuclear weapons if it tries to join Nato defence shield
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Germanwings plane crash live: Andreas Guenter Lubitz intentionally crashed flight 9525 into the Alps in act of mass murder and suicide – latest
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...