The Catlin Syndicate is one of the first three participants in Lloyd's new reinsurance operation in China, which opened on 16 April in Shanghai.
Li Linmao, formerly a member of Catlin's underwriting staff in London, has been seconded to Lloyd's Reinsurance Company (China) Ltd (LRCCL), the new Lloyd's operation. The Catlin Syndicate, which is the largest syndicate at Lloyd's in terms of premium capacity, will operate as part of LRCCL in underwriting Chinese insurance companies.
The establishment of LRCCL enables Lloyd's syndicates to underwrite onshore reinsurance business throughout China. It will provide Chinese insurers with full access to the Lloyd's market and give Lloyd's improved access to the rapidly developing Chinese reinsurance market. Lloyd's has supported Chinese insurers by providing offshore reinsurance capacity in areas such as marine and aviation for over three decades.
Stephen Catlin, chief executive of Catlin Group Limited, said: "We are very proud to be one of the few Lloyd's syndicates to establish operations in Shanghai concurrent with the opening of Lloyd's Reinsurance Company (China) Ltd. Our presence in Shanghai complements Catlin's existing Asian offices in Hong Kong, Singapore and Kuala Lumpur and is part of Catlin's strategy to work as closely as possible with local brokers and their clients."
