Property Facultative
The account is mostly comprised of direct and facultative, open market subscription business on a layered basis. In addition a number of specialist binding authority and lineslips are written as part of the book. The majority of the portfolio is comprised or larger risk managed multi-million dollar schedules. Roughly 15% of the business that is written is led by Catlin. 90% of the income is written out of London - almost all of which is written at Lloyd’s. Overseas offices that contribute to the account are Sydney, Toronto, Singapore and Hong Kong.
Excluding Nuclear, 49% of the book is written as direct business, and 45% as Facultative Reinsurance (though this can include reinsurance of Captives). The remaining 6% is made up of lineslip, facility or specialist binders, that fall outside the Property Facultative.