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Regulator approves Catlin’s Beijing office

Bermuda-based re/insurer Catlin Group Ltd has been granted approval by the China Insurance Regulatory Commission to open and operate a wholly owned representative office in Beijing, the company said yesterday.

The office will be used primarily for marketing purposes and for liaising with Chinese government and insurance industry officials, as no business can be written through it.

The Beijing office will be headed by chief representative Freeman Zhang.

“I am delighted that Catlin has received permission from China Insurance Regulatory Commission to establish a representative office in Beijing,” said Catlin CEO Stephen Catlin.

“I believe that China offers great opportunity to international insurers and reinsurers such as Catlin, and the formation of a representative office in China’s capital will allow Catlin to establish closer ties with Chinese regulators and insurance industry organisations and to conduct further research into the growing market for insurance and reinsurance in China.”

Catlin previously established an office in Hong Kong in 2006 and an office in Shanghai in 2007 upon the formation of the Lloyd’s China trading platform (Lloyd’s Insurance Company (China) Ltd). Catlin was one of the original participants in Lloyd’s China and remains committed to playing a leading role in the platform’s growth.

In November 2011 Catlin announced that it had formed a partnership with China Reinsurance (Group) Corporation, which is jointly owned by the Ministry of Finance of China and Central Huijin Investment Corporation. As part of the partnership, China Re has established a special purpose syndicate at Lloyd’s which underwrites a whole-account quota share reinsurance of the Catlin Syndicate (Syndicate 2003).

Catlin said the partnership with China Re allowed Catlin to expand its knowledge of insurance and reinsurance practices in China. In return, the alliance helps China Re to gain a better knowledge of Lloyd’s and helps to increase China Re’s presence in the international reinsurance market.

As part of the relationship, China Re employees will work from Catlin’s London offices as secondees, and Catlin staff will be seconded to work in China with China Re.

The Beijing representative office is part of Catlin’s Asia-Pacific underwriting hub, headquartered in Singapore. Besides the Beijing office, the Asia-Pacific hub has established representative offices in Tokyo and Mumbai to further Catlin’s knowledge of the markets in Japan and India. The hub also underwrites coverage through six other offices in Asia and Australia.

Catlin CEO Stephen Catlin

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Published April 20, 2012 at 9:10 am (Updated April 20, 2012 at 9:09 am)

Regulator approves Catlin’s Beijing office

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