Castelnau Group Regulatory News (CGL)

5 Feb 2009 11:35



Catlin US, W. Brown & Associates Form Partnership to Underwrite General Aviation Insurance

ATLANTA - Catlin Group Limited ('CGL'; London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces that W. Brown & Associates Insurance Services will underwrite general aviation insurance for US clients nationwide on behalf of Catlin US.

Irvine, Calif.-based W. Brown & Associates was established in 1987 and is one of the largest underwriting managers in the United States specialising in aviation insurance. Its products are offered through a network of more than 800 independent agents and brokers. 

Among the types of general aviation coverages to be underwritten by W. Brown & Associates on behalf of Catlin US are hull, liability, aircraft products liability, airport liability, ground-based-liability and non-owned aircraft liability. The coverage will be written on behalf of Catlin Insurance Company Inc., which is rated 'A' (Excellent), Category XV, by A.M. Best Company. The agreement is effective on 8 April 2009.

Richard S. Banas, president and chief executive officer of Catlin US, said:

"I am very pleased to announce that we are joining forces with W. Brown & Associates to offer general aviation insurance to clients throughout the United States. W. Brown & Associates is well-respected for its aviation underwriting expertise, and we are delighted to become partners with an organisation that shares our commitment to underwriting excellence.

"This agreement is a major step forward in the development of Catlin US and our strategy to increase volume in specialty classes of business with which the Catlin Group already has substantial expertise."

Catlin Group Limited is a major international aviation and aerospace insurer and reinsurer, with gross aerospace-related premium volume of approximately $400 million in 2008. Catlin currently underwrites general aviation insurance from offices in London, continental Europe, Guernsey, Canada, Asia and Australia.

The Catlin Group operates in the United States through Catlin US, which underwrites a wide variety of specialty property/casualty insurance and reinsurance products from 18 offices nationwide. Atlanta-based Catlin US underwrites on behalf of two domestic insurers: Catlin Insurance Company Inc. and Catlin Specialty Insurance Company. It also writes on behalf of the Catlin Syndicate at Lloyd's of London, the largest syndicate at Lloyd's in terms of premium capacity, and Catlin UK, a UK-domiciled insurer.

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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. Gross premiums written in 2007 exceeded US$3.3 billion. Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). More information about Catlin can be found at www.catlin.com.

2. Catlin's four underwriting platforms are:

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 U.S. Catlin US includes Catlin Insurance Company Inc. and Catlin Specialty Insurance Company Inc.

The Catlin Syndicate at Lloyd's of London (Syndicate 2003), which 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. In addition, Catlin UK underwrites other classes of commercial business which are also written by the Catlin Syndicate.

1. 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 offices in the UK, US and Bermuda, Catlin operates offices in Canada (Toronto and Calgary), Australia, Singapore, Malaysia, Hong Kong, China, Japan, Guernsey, Germany, Belgium, France, Spain, Italy, Switzerland, Austria and Brazil. 

2. 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 determine, with a much greater degree of accuracy, when this ice could disappear as a result of global warming. The Survey, during which three Arctic explorers will trek on foot 1,300 kilometres to the North Pole, will begin in late February 2009. More information is available at www.catlinarcticsurvey.com.