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Catlin Arctic Survey: Changes to Ocean Currents
The 2011 Catlin Arctic Survey, sponsored by Bermuda-based (re)insurer Catlin, will focus on evolving conditions in the Arctic Ocean that could cause changes in ocean currents that influence the prevailing climate of Europe and the East Coast of North America. This year’s Catlin Arctic Survey will begin in March when a team of polar explorers and... Read more of this article
Catlin Purchases Blue Ridge Insurance
The Bermuda-based Catlin Group , announced today [Jan. 18] that it has purchased Blue Ridge Insurance Company [BRIC] from QBE Insurance Group. BRIC is a Wisconsin-domiciled admitted insurer and a wholly owned subsidiary of General Casualty Company of Wisconsin. BRIC was purchased by Catlin Inc., a US subsidiary of CGL, as a shell business. Under terms... Read more of this article
Catlin Increase NZ Estimate by $10 Million
Bermuda-based Catlin Group Limited announced yesterday [Dec 22] an estimate of the financial impact of the New Zealand earthquake in view of the increased interest in this event by the investment community. Catlin currently estimates that, based on total insured losses from the New Zealand earthquake of US$5.5 billion to US$6 billion, Catlin’s loss... Read more of this article
Catlin Launches Swiss Subsidiary
Bermuda-based Catlin Group Limited, the international specialty property/casualty insurer and reinsurer, announced today (Dec. 8) that Catlin Re Switzerland Ltd. has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate as a reinsurance company. Catlin Re Switzerland will be capitalised with approximately $1.1... Read more of this article
Catlin Reports Surge in Net Premiums
Hamilton, Bermuda-based Catlin Group Limited, an international specialty property and casualty insurer and reinsurer, reported a 13 percent increase in net premiums earned for the first nine months of 2010 compared to 2009. The company said about half of the increase is attributable to increases in premium volume and higher rates relating to business... Read more of this article
Catlin Renews Sponsorship of End to End
Bermuda’s largest charity event has received renewed support from its title sponsor; for 2011 and beyond. For the next three years, Catlin Bermuda has announced it will give substantial funding toward the organization of the Bermuda End-to-End event – known since 2008 as the “Catlin End-to-End.” “We are delighted to continue our new association... Read more of this article
Catlin Declares $86 Million In Profit
Bermuda-based Catlin Group Limited announced its financial results for the six months ended 30 June 2010. Stephen Catlin, Chief Executive of Catlin Group Limited, said: “Catlin’s underwriting operations produced strong underlying results, as the attritional loss ratio in the first half was the lowest in four years. However, our profits were reduced... Read more of this article
Catlin Lead Insurer For Fatal Pakistan Crash
Bermuda-based Catlin Group Ltd. is the lead insurer of the Airblue jet that crashed last Wednesday in Pakistan, killing all 152 people aboard. A spokesman for the company confirmed that the insurer is the lead underwriter, but he would not say what percentage of the risk that the insurer covers. It is reported that the insurance is expected to compensate... Read more of this article
Catlin To Expand To Switzerland
Bermuda based Catlin Group Limited will form a reinsurance company in Switzerland, saying it will significantly expand the European-based reinsurance business underwritten by the Group. Catlin will also apply to the Bermuda Monetary Authority to establish a Bermuda-based branch of Catlin Re Switzerland. The Bermuda branch will initially underwrite... Read more of this article
Oil Rig Explosion To Cost Catlin $40 Million
Bermuda based Catlin Group Ltd estimates its exposure to physical damage and liability claims arising from the Deepwater Horizon disaster to be approximately $40 million, net of reinsurance and reinstatements. The Deepwater Horizon oil rig explosion in the Gulf of Mexico on April 20 explosion killed 11 workers, and the subsequent oil spill is causing... Read more of this article
Bermuda Reinsurer Chile Estimates Hit 2 Billion
The catastrophic earthquake in Chile on Feb 27, 2010 is projected to be the most expensive insured loss in Latin American history, according to analysts at the international broker Cooper Gay. The powerful earthquake registered 8.8 on the Richter Scale and caused significant destruction. NASA reports that the magnitude 8.8 earthquake in Chile may... Read more of this article
Catlin: Chile Earthquake Costs of $140 Million
Bermuda based Catlin Group Limited, an international specialty property/casualty insurer and reinsurer, today [Mar 25] announced initial estimates of the financial impact of the Chilean earthquake and Windstorm Xynthia. Based on a market loss estimate of US$6 billion, Catlin currently estimates that its exposure to the Chilean earthquake amounts to... Read more of this article
Register Online For the 2010 End-to-End Walk
Online registration for the 2010 Catlin End-to-End to be held on May 1st is now available here. Over the past 22 years, End-to-End participants have raised more than $3.34 million for Bermuda charities. One of Bermuda’s biggest charity events, more than 2,000 people take part each year. With online signups, you can choose a personal web page... Read more of this article
Bermuda Sponsored Explorers in The Arctic Ocean
Sponsored by a Bermuda based insurance company, a team of veteran polar explorers began an approximate 500-kilometre trek across the floating sea ice of the Arctic Ocean as part of Catlin Arctic Survey 2010 yesterday. The international scientific mission’s purpose is to learn how increased carbon emissions could be affecting the seawater of the... Read more of this article
