Press Releases

Catlin Syndicate Leads Coverage for Innovative 'Land Bridge' Connecting Europe and China

LONDON – The Catlin Syndicate, the largest syndicate at Lloyd’s of London in terms of premium capacity, is leading the cargo insurance coverage for goods transported by an innovative new rail container service linking Europe with China.

The first trains operating on the Far East Land Bridge (FELB) left Harbin in northeast China and for Zabaykalsk in southern Siberia on 29 April.  When fully operational later this year, FELB will provide container transport via rail for the first time between Central European countries such as Germany, Poland, Austria and the Czech Republic and cities in northeast China, including Beijing and Harbin.

The development of FELB will cut in half the time it now takes to ship goods between European cities and the Far East.  Sea-based container shipments between Vienna and Beijing currently take up to 36 days, not including time lost to port delays and co-ordination with feeder vessel schedules.  In comparison, a rail shipment via FELB will take as little as 15 to 18 days to complete.

FELB, which utilises the Trans-Siberian railway for much of its route, has secured special customs and tariff arrangements to allow ‘block trains’ to move in both directions non-stop.  Containers will be monitored at least twice a day at 37 checkpoints along the route.  Containers will be transferred between the Russian broad gauge rail system and the standard gauge used in China and Europe at designated crossing points on the Ukraine/EU and China/Russia borders. 

Cargo insurance covering all risks of physical damage for goods shipped via the FELB is underwritten at Lloyd’s, led by the Catlin Syndicate.  The coverage is brokered by Ramon International Insurance Brokers Limited, a Lloyd’s broker specialising in all forms of marine, non-marine and aviation insurance and reinsurance. 

Howard Franks, Deputy Marine Business Group Leader for the Catlin Syndicate, said:

“The Far East Land Bridge is an exciting development in container transport and offers an attractive alternative to traditional sea routes.  Over time, FELB should become one of the most important methods of shipping goods between Europe and China.

“The Catlin Syndicate is proud to have played a leading role in providing the necessary insurance coverage for this important new project.”

The Catlin Syndicate is managed by a unit of Catlin Group Limited (‘CGL’: London Stock Exchange), the international specialty property/casualty insurer and reinsurer.  The Catlin Group is the sole capital supplier to the Syndicate.

- ends -

For more information contact:

Media Relations:    
James Burcke,
Head of Communications, London		 Tel:
Mobile :
E-mail:		 +44 (0)20 7458 5710
+44 (0)7958 767 738
james.burcke@catlin.com
     
Liz Morley, Maitland

Tel:
E-mail:

 +44 (0)20 7379 5151
emorley@maitland.co.uk
   
Investor Relations:
William Spurgin,
Head of Investor Relations, London

Tel:
Mobile :
E-mail:

 +44 (0)20 7458 5726
+44 (0)7710 314 365
william.spurgin@catlin.com
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 during 2007 exceeded US$3.3 billion. More information about Catlin 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 is the largest at Lloyd's in 2008 based on premium capacity of £1.25 billion.
  • 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.
  • Catlin UK (Catlin Insurance Company (UK) Ltd.), which specialises in underwriting commercial non-life insurance for UK clients through a network of regional offices. It also writes other classes of business written by the Catlin Syndicate.

  • 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 more than 15 offices. Catlin US includes Catlin Insurance Company Inc. and Catlin Specialty Insurance Company Inc.

4.  

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 Canada, Brazil, Australia, Singapore, Malaysia, China, Guernsey, Germany, Belgium, France, Italy, Spain, Switzerland and Austria.