Catlin Group (CGL), a global international specialty property/casualty insurer and reinsurer, has established the Singapore Branch, as part of its strategy to boost its footprint in the country.
Named as Catlin Insurance Company (Singapore Branch) or ‘CICL (SG Branch)’, the new office will write specialty lines of direct insurance in Singapore and reinsurance across the Asia-Pacific region.
CICL (SG Branch) was formed after receiving a direct license on 23 December 2013 by the Monetary Authority of Singapore.
The new branch will be headed by Catlin Singapore, the company’s existing underwriting operation in the country. The branch has already started operations with effect from 1 January 2014.
The formation of CICL (SG Branch) enables Catlin Singapore to write business on behalf of either the new branch or the Lloyd’s Syndicate, depending on broker or client preference.
Since 1999, the company has been underwriting local and regional business from its Singapore office on behalf of Catlin’s syndicate at Lloyd’s of London.
The license granted to CICL (SG Branch) covers all lines of business currently underwritten by Catlin in the Asia-Pacific region. They include treaty reinsurance, accident and health, property, aviation, casualty and financial lines, energy, credit and political risk, marine, construction and engineering.