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Four Bermudians made redundant at Catlin

Four Bermudian staff were yesterday made redundant by insurer and reinsurer Catlin.

The company said yesterday the work of those being let go was being transferred to a European unit in order to improve operating efficiencies.

“Catlin Insurance Company Ltd announced that, as part of a global business realignment, four Bermudian employees, a small number of our overall local workforce, have been made redundant as certain tasks are transferred to a Catlin Group Shared Services Centre in Europe,” the company stated in response to our questions.

Graham Pewter, CEO of Catlin Bermuda, said: “Catlin is increasingly centralising certain tasks to improve the service we provide to our clients around the world.

“The company's commitment to Bermuda, our corporate headquarters, and to the recruitment and development of Bermudians remains unaltered, but we operate in a competitive market and must strive to improve operating efficiencies wherever possible.”

Staff were told of the redundancies on February 27, according to one of the employees to lose her job, who asked not to be named. She said she had received a severance package.

“There was no notice, no nothing,” she said. “It all happened within an hour. We were told and then escorted to our desks and escorted out.”

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Published March 05, 2014 at 8:00 am (Updated March 04, 2014 at 7:46 pm)

Four Bermudians made redundant at Catlin

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