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Catlin launches new Lloyd's life syndicate

Catlin Group is launching a new Lloyd's Syndicate and has opened a Guernsey branch office to write term life (re)insurance business.

Syndicate 3002 will be headed by Nigel Guillaume-Smith, Catlin's accident & health (A&H) leader, and will open for business on 1 May. The active underwriter will be the former Swiss Re client manager Simon Hearn.

The Guernsey office - which will be a branch of the firm's Bermuda insurer - will write term life business for markets that would not normally access London, such as the Middle East and Asia-Pacific.

The Guernsey portfolio will be written by the Arab Insurance Group (ARIG) assistant director Ian Rickard who, like Hearn, joined the Bermuda-domiciled group earlier this year.

Stephen Catlin, the founding chief executive of the UK-listed group, said the move will complement the firm's existing A&H business. "Our new life operations are a natural extension of our leadership position in the accident & health market further diversifying our underwriting portfolio", Catlin explained.

The group wrote $130mn in A&H gross premiums in 2008.

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