Catlin Bermuda (Catlin Insurance Company Ltd.) is a leading underwriter in the Bermuda insurance and reinsurance market.
Catlin Bermuda, which began underwriting in November 2002, differentiates itself from other insurers in the Bermuda market through a combination of:
- the strength of the Catlin brand;
- developing core competencies in specialty classes of business;
- knowledge based underwriting; and
- an unremitting commitment to client service.
Catlin Bermuda allows the Catlin Group to work as closely with clients and brokers which place portions of their insurance and reinsurance programmes in the increasingly important Bermuda market. Catlin Bermuda does not compete with the other underwriting platforms within the Catlin Group, but rather complements them by specialising in classes of business in which Bermuda plays an industry-leading role.
Catlin Bermuda underwrites a diversified portfolio of both property treaty and casualty treaty reinsurance as a lead or quoting market. Property treaty underwriting is weighted towards worldwide catastrophe business, although this portfolio of business includes a risk excess and proportional account. The property treaty team was strengthened considerably during 2006 through the recruitment of underwriters specialising in both US and international business.
The casualty reinsurance underwriting team is a quoting market for professional and municipal liability and is an established market leader in providing protection to mutual insurers, captives and other risk financing mechanisms formed principally in the United States by homogeneous groups such as physicians, hospitals, nursing homes, lawyers, municipalities and most other affinity groups.
Catlin Bermuda underwrites political risk and terrorism insurance and reinsurance on a global basis. The Company has developed an innovative Nuclear Chemical and Biological Terrorism product available world-wide on both a treaty and direct basis for all types of property and casualty risk.
Supplementing these core traditional classes of business Catlin Bermuda offers multi-year structured risk contracts to large corporate clients and insurance companies seeking protection against loss volatility within retained exposures. A number of these “retention management” programmes were successfully closed in 2006, including multi -year catastrophe aggregate programmes in the Midwest and in Florida. The focus of our structured risk efforts inevitably turns towards lines of business where capacity is scarce, and 2006 was marked by problems in the South Eastern USA. However, we continue to underwrite heavy casualty risks including for example, medical malpractice, auto liability and general and products liability in the US.
Like all members of the Catlin Group, Catlin Bermuda offers clients excellent financial security. Catlin Insurance Company Limited has been assigned a financial strength rating of 'A' (Excellent) by A.M. Best Company and 'A-' (Strong) from Standard & Poor's.