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Member, Beacon International Group, Ltd.
HAMILTON, BermudaCatlin Group Ltd. is to extend its European reach with four new offices.
The company, which is in the process of acquiring Lloyd's of London insurer Wellington Underwriting P.L.C., announced that it plans to open offices in Paris; Barcelona, Spain; Zurich, Switzerland; and Innsbruck, Austria. These will be added to Catlin's existing European offices in Cologne, Germany and Antwerp in Belgium.
In a statement, Catlin said that the new locations will build on its strategy to open offices in key cities worldwide to access business that would not ordinarily be underwritten by one of Catlin's four underwriting platforms in Bermuda, Lloyd's of London, the United States and the United Kingdom.
The offices will also allow Catlin to work more closely with European clients and their brokers on a local basis, Catlin said in the statement.
Underwriters based in each of the new offices will specialize in writing certain classes of business: Catlin in Paris will specialize in underwriting inland marine and cargo insurance; Catlin in Barcelona will specialize in underwriting cargo business for clients in Spain and Portugal; Catlin in Zurich will specialize in underwriting construction all-risk; and Catlin in Innsbruck will specialize in underwriting inland marine and cargo insurance.