Catlin Insurance Co. Ltd., a unit of Hamilton, Bermuda-based Catlin Group Ltd., a has opened a branch in Singapore to write specialty lines of direct insurance in Singapore and reinsurance throughout the Asia-Pacific region, Catlin Group said.
The new office began operations Jan. 1 after being granted a license by the Monetary Authority of Singapore in December, and will be managed by Catlin Singapore Pte. Ltd., Catlin’s Singapore-based underwriting operation, Catlin Group said Monday in a statement.
While Catlin has been underwriting local and regional business from its Singapore office since 1999 on behalf of Catlin’s syndicate 2003 at Lloyd’s of London, the new office will allow Catlin Singapore to write business on behalf of either the new branch or the Lloyd’s syndicate, depending on broker or client preference, according to the statement.
“The formation of CICL (SG Branch) underscores Catlin’s firm commitment to our clients in Singapore and the Asia-Pacific region and allows Catlin to expand our product offering in the region,” said Mark Newman, CEO of Catlin’s Singapore-based Asia-Pacific underwriting hub, in the statement.