Catlin Group Ltd. has established Catlin Middle East Ltd. in the Dubai International Financial Center, the Hamilton, Bermuda-based specialty insurer and reinsurer said Thursday.
Catlin Middle East offers facultative reinsurance to insurers in the Gulf Cooperation Council countries, Africa and parts of South Asia.
Catlin said its Dubai operation was granted a Category 4 license by the Dubai Financial Services Authority to operate as a Lloyd’s of London coverholder on May 7.
“As an authorized entity in the DIFC, Catlin Middle East can provide insurance intermediation and insurance management,” Catlin said in a statement. “Catlin Middle East will underwrite on behalf of Catlin syndicate 2003, the largest in the Lloyd’s market in terms of premium volume.”
Catlin Middle East will be staffed with three underwriters, one underwriting assistant and one personal assistant by September, Catlin said in the statement.
“The establishment of Catlin Middle East parallels Catlin’s diversification strategy to build a distinctive and efficient international structure,” said Mark Newman, CEO of Catlin Asia-Pacific, in the statement.