Press Releases

Catlin UK Acquires Renewal Rights From Bennett Underwriting Agencies Ltd

7 July 2009       

 

LONDON – Catlin Group Limited (‘CGL’; London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces that Catlin UK has acquired the renewal rights to the professional indemnity and directors’ & officers’ liability books of business underwritten by Bennett Underwriting Agencies Ltd (‘BUA’).

 

BUA, based in Hitchin, Hertfordshire, was established in 1998 as a specialist underwriting agency specialising in insurance coverage for professionals.  BUA has underwritten business as a coverholder on behalf of Catlin UK (Catlin Insurance Company (UK) Ltd.) for the past several years.

 

Richard Bennett, BUA’s managing director and founder, will join Catlin as regional professional indemnity manager.  The BUA office in Hitchin will become a Catlin UK regional office.

 

Richard Clapham, underwriting director for Catlin UK, said:

 

“I am very pleased that Catlin UK has acquired renewal rights from Bennett Underwriting Agencies.  I look forward to working more closely with Richard Bennett and his team to strengthen Catlin’s position in the UK regional professional indemnity market.”

 

Catlin UK underwrites numerous classes of non-life insurance for UK businesses and professionals and operates from offices in London, Glasgow, Leeds, Birmingham, Ipswich, Tonbridge and now Hitchin.  Catlin UK has a financial strength rating of ‘A’ (Excellent) from A.M. Best Company.

 

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Notes to editors

 

1.   Catlin Group Limited, headquartered in Bermuda , is an international specialist property/casualty insurer and reinsurer writing more than 30 classes of business worldwide through four underwriting platforms and an international network of offices. Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). Gross premiums written in 2008 exceeded US$3.4 billion. More information can be found at www.catlin.com.
2.  

 Catlin's four underwriting platforms are:

  • The Catlin Syndicate at Lloyd's of London (Syndicate 2003) is a recognised leader of numerous classes of specialty insurance and reinsurance. The Catlin Syndicate was the largest at Lloyd's in 2008 based on fross premiums written of US$2.4 billion. Catlin also operates a life syndicate at Lloyd's (Syndicate 3002).
  • Catlin Bermuda (Catlin Insurance Company Ltd.), which is a leading participant in the Bermuda market, underwriting a diversified portfolio of property treaty, casualty treaty, political risk and terrorism, and structured risk coverages. A Guernsey Branch of Catlin Bermuda underwrites life coverages.
  • Catlin UK (Catlin Insurance Company (UK) Ltd.), which specialises in underwriting commercial non-life insurance for UK clients through a network of regional offices. In addition, Catlin UK underwrites many other classes of commercial insurance.

  • Catlin US, which encompasses Catlin's operations based in the United States. Catlin US underwrites a wide variety of specialty property/casualty insurance and reinsurance products from a network of offices throughout the United States. 

3.  

Catlin's international network of offices allows the Group to diversify further its risk portfolio and to work more closely with local policyholders and brokers. Besides its offices in the UK, US and Bermuda, Catlin operates offices in Australia, Austria, Belgium, Bermuda, Brazil, Canada, China, France, Germany, Guernsey, Italy, Japan, Malaysia, Norway, Signapore, Spain, Switzerland, the United Kingdom and the United States.

 4.   Catlin Group Limited is the title sponsor of the Catlin Arctic Survey, a major scientific expedition to measure the thickness and density of the permanent ice surrounding the North Pole.  The project’s aim is to help scientists determine, with a much greater degree of accuracy, when this ice could disappear as a result of global warming.  More information is available at www.catlinarcticsurvey.com.