Specialist underwriter Catlin Australia aims to capitalise on strong local growth by expanding out of its Sydney base and opening an office in Melbourne.

The expansion follows a record global pre-tax profit of $US603 million ($674 million) last year, including 23% growth in Asia-Pacific gross written premium of $US129 million ($144 million).

Catlin Australia has recruited Catlin Syndicate executive Rory Morison from London to run the Collins Street office. The Victorian team will initially focus on general liability and general aviation lines.

Local operations were launched six years ago in Sydney, where the company today employs 25 staff.

Catlin Australia director Andrew Case told insuranceNEWS.com.au he expects the new office to build on a “large chunk” of existing business in Victoria.

“We anticipate the business in Melbourne to grow by income and numbers, alongside the Sydney business,” he said. “By how much and how fast will be a function of the availability of staff as opposed to being limited by other factors.”