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Catlin wins approval for Beijing office

Lloyd’s insurer Catlin has been granted approval to open and operate a wholly owned representative office in Beijing.

But while the London-based insurer has received China Insurance Regulatory Commission approval, no business will be underwritten from the office. It will be used by Catlin to liaise more closely with the Chinese Government and insurance industry organisations.

Chief Representative Freeman Zhang will head the office, which Catlin also plans to use to conduct market research about insurance and reinsurance in China.

Catlin opened a Hong Kong office in 2006 and a Shanghai office in 2007.

Last November, Catlin announced a partnership with part government-owned China Re, under which China Re has established a special purpose syndicate at Lloyd’s to underwrite whole-account quota share reinsurance of Catlin Syndicate 2003.

Catlin CEO Stephen Catlin says the partnership with China Re, which involves a staff secondment program, allows Catlin to expand its knowledge of insurance and reinsurance practices in China, while helping China Re gain better knowledge of Lloyd’s and increase its presence in the international reinsurance market.

The Beijing representative office is part of Catlin’s Asia-Pacific underwriting hub, which has headquarters in Singapore, representative offices in Tokyo and Mumbai, and six underwriting offices across Asia and Australia.