Aviation
Catlin Aviation have established themselves as a key player in the London market. The account commenced in September 2002 and has grown in size and profile since then.
We are a recognised leader for all classes of business other than Major Airlines and Major Product Manufacturers. Whilst we participate in these areas it is on a very selective basis as they are not a core part of an account. We have one significant binder with a major producer in Canada that we write 100% and a handful of small binders where we follow. It is not a core part of our account.
Our account is split roughly 50/50 between Direct and RI business. The overseas offices now contribute significantly to our overall income. In 2006 this is in the region of 52% (including Guernsey in this number) and in 2007 is expected to grow to 56%. We are also unique in having the Global Product Leader for the Aerospace Group situated in Calgary rather than London.
We expect the income from the overseas offices to continue to represent a significant part of our account as we have new initiatives in Canada, Asia and Australia whereby we intend to become a significant domestic market in these regions. All of our overseas offices have genuine underwriting authority to develop business in their respective regions.