51棋牌游戏

      <ol id="tvlhr"></ol>
      <dfn id="tvlhr"><th id="tvlhr"></th></dfn>
      <progress id="tvlhr"></progress>

        <track id="tvlhr"></track>
      <big id="tvlhr"></big>

        <pre id="tvlhr"></pre>

          <sub id="tvlhr"><progress id="tvlhr"></progress></sub>

          <track id="tvlhr"><sub id="tvlhr"><strike id="tvlhr"></strike></sub></track>
          中文

          China Re receives final approval for Lloyd

          2014-11-21 14:16:11

            LONDON – China Reinsurance (Group) Corporation (‘China Re’) has received approval from Lloyd’s to transform its existing special purpose syndicate into a stand-alone syndicate that will underwrite a diversified book of business, initially focussing on reinsurance, incepting from 1 January 2015.

            The China Re Syndicate (Syndicate 2088) will be managed by Catlin Underwriting Agencies Limited, a subsidiary of Catlin Group Limited (‘CGL’; London Stock Exchange).

            The formation of the China Re syndicate, which is projected to underwrite premiums of approximately £120 million in 2015, marks the first time that a Chinese-owned company has established a Lloyd’s syndicate writing open market business. The new syndicate provides China Re with a platform to access additional business to complement its existing portfolio of Chinese-based risks and to provide a London market presence to provide better service to existing international clients. In addition, the new syndicate will provide substantial benefits to the Lloyd’s market, including the potential for an increased flow of Chinese business and a greater understanding of Chinese risks.

            Syndicate 2088 continues the strategic partnership that China Re and Catlin established in November 2011. As part of that partnership, China Re established a special purpose syndicate at Lloyd’s which has written whole-account quota share reinsurance for Syndicate 2003. Syndicate 2003 is the largest syndicate at Lloyd’s and is owned and managed by the Catlin Group, the largest syndicate manager at Lloyd’s for the past five years based on gross premiums written. In addition, each partner over the past three years has helped the other learn more about their respective markets, and each company has seconded employees to the other.

            China Re is the largest reinsurance company in China and is ranked by A.M Best as the world’s eighth-largest reinsurance group based on total 2013 gross reinsurance premiums written of US$7.9 billion.

            Catlin, through its Asia-Pacific underwriting hub, established underwriting offices in Hong Kong in 2006 and Shanghai in 2007, as well as a representative office in Beijing in 2012. It is currently the largest participant in Lloyd’s China, which was also established in 2007.

            Dr Li Peiyu, Chairman of China Re, said:

            “I am pleased to announce that China Re’s application to transform Syndicate 2088 has received final approval from Lloyd’s and that the syndicate is ready to underwrite business incepting from 1 January 2015. We at China Re are grateful to Lloyd’s for their consideration of our application. We would also like to thank Catlin Group Limited for its help in the formation of Syndicate 2088 and for agreeing to provide management services to the Syndicate in its initial years.

            “The new stand-alone China Re Syndicate will further raise awareness of the China Re brand in the Lloyd’s market. Our long-term strategy is to increase our activities in the international markets, and we look forward to working with international clients and their brokers placing business in the Lloyd’s market. China Re and Catlin formed a strategic partnership three years ago that has been mutually beneficial, and the establishment of the China Re Syndicate at Lloyd’s takes that partnership to a new level. In the future, China Re plans to establish its own Lloyd's managing agent company, so as to fully integrate ourselves into the Lloyd’s market.”

            Stephen Catlin, Chief Executive of Catlin Group Limited, said:

            “I am delighted that China Re has received permission to establish a Lloyd’s syndicate that will write open market business and that China Re has chosen Catlin to manage the syndicate from its outset. The syndicate further underscores Lloyd’s position as a leading market for international insurance and reinsurance business. We at Catlin look forward to continuing to work with China Re in the coming years to help build Syndicate 2088’s business portfolio.”

            Syndicate 2088 will write a diversified portfolio, both by class of business and by geographic region. A significant proportion will represent new business to the Lloyd’s market. Initially, the open market segment of the portfolio will focus on Property, Marine and Specialty Treaty Reinsurance business, some of which is currently written by China Re and which includes Chinese risks.

            The syndicate will also continue to write whole-account reinsurance of various Catlin entities.

            Over time, China Re will assume responsibility for all of the functions required by the syndicate. It is proposed that China Re Underwriting Agency Limited, which initially will act as the service company of Syndicate 2088, will in the future apply to the Prudential Regulatory Authority, the Financial Conduct Authority and Lloyd’s to become a Lloyd’s managing agency responsible for the management of the syndicate.

            Matthew Sage will be the Active Underwriter of Syndicate 2088. He most recently was Chief Underwriting Officer of Catlin Bermuda, a post he assumed in 2008. He joined Catlin in London in 1991, concentrating on the underwriting of Non-Marine reinsurance accounts. ]

            The syndicate’s Deputy Active Underwriter will be Yin Hang, currently Deputy General Manager of the International Business Department at China Re in Beijing. Matthew Sage and Yin Hang will soon be joined by an underwriting team composed of both Chinese and London market professionals.

            The syndicate's non-underwriting functions will be led by Timothy Peters as Syndicate Manager, and Liu Gangjian, as Deputy Syndicate Manager. Timothy Peters is currently the Group Head of Reinsurance Asset Management for Catlin Group Limited and has served as Finance Director of Catlin Underwriting Agencies Limited. Liu Gangjian is currently the Chief Representative of China Re’s London Representative Office.

            The management of Syndicate 2088 will be provided by Catlin Underwriting Agencies Limited, which also manages Catlin Syndicate 2003 at Lloyd’s. Certain services will be provided by a subsidiary of Randall & Quilter Investment Holdings Ltd.

            Matthew Sage said:

            “I am excited to have been selected to lead Syndicate 2088, and I look forward to working with both long-time colleagues in the Lloyd’s marketplace as well as with professionals from China Re to build Syndicate 2088 into an established, vibrant participant in the market.

            “Syndicate 2088 will begin operating on Monday from its box on Gallery 3 at Lloyd’s and from its offices at 3 Minster Court.”

            For more information contact:

            Catlin Group Limited

            Media Relations:

            James Burcke,

            Head of Corporate Affairs, London

            Mobile: +44 (0)7958 767 738

            E-mail: James.Burcke@catlin.com

            Liz Morley, Maitland

            Tel: +44 (0)20 7379 5151

            E-mail: EMorley@maitland.co.uk

            Investor Relations:

            William Spurgin,

            Head of Investor Relations, London

            Tel: +44 (0)20 7458 5726

            Mobile: +44 (0)7710 314 365

            E-mail: William.Spurgin@catlin.com

            China Reinsurance (Group) Corporation

            Liu Gangjian,

            Managing Director,

            China Re Underwriting Agency Limited

            Tel: +44 (0)20 7283 9711

            E-mail: Liugj@chinare.com.cn

            Notes to editors:

          1. Catlin Group Limited, headquartered in Bermuda, is an international specialist property/casualty insurer and reinsurer that underwrites worldwide through six underwriting hubs. Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). Catlin's underwriting units are rated 'A' by A.M. Best and Standard & Poor's. More information about Catlin can be found atwww.catlin.com.
          2. Catlin has established operating hubs in London, Bermuda, the United States, the Asia-Pacific region, Europe and Canada. Through these hubs, Catlin works closely with policyholders and their brokers. The hubs also provide Catlin with product and geographic diversity. Altogether, Catlin operates more than 50 offices in 25 countries. Catlin’s London hub manages the largest syndicate operating at Lloyd’s of London.
          3. China Reinsurance (Group) Corporation, headquartered in Beijing, is China’s sole state-owned reinsurance group. China Re has always been the main channel of reinsurance in China. With well-established core reinsurance business, China Re has a complete industrial chain covering reinsurance, direct insurance, asset management, insurance brokerage and insurance media. More information about China Re can be found at www.chinare.com.cn for a Chinese version andm.xlglmtj.cn for an English version.
          4. China Re has six domestic subsidiaries: China Property & Casualty Reinsurance Company Ltd. (China Re P&C), China Life Reinsurance Company Ltd. (China Re Life), China Continent Property & Casualty Insurance Company Ltd. (China Continent), China Re Asset Management Company Ltd. (China Re Asset), China Insurance Media Company Ltd. (China Insurance Media) and Huatai Insurance Agency & Consultant Service Ltd. (Huatai Insurance Agency). 
          5. China Re has five overseas agency/offices: China Re Underwriting Agency Limited, China Re UK Limited, New York Representative Office, London Representative Office and Hong Kong Representative Office.
          6. China Re has a strong capital position with two shareholders: Central Huijin Investment Corporation and Ministry of Finance. China Re has been rated ‘A’ (Excellent) by A.M. Best for five consecutive years with a stable outlook. 
          7. Catlin is the title sponsor of the Catlin Seaview Survey, a major scientific expedition that is documenting the health of coral reefs around the world. During 2012 the Survey investigated the Great Barrier Reef off Australia, while during 2013 it studied coral reefs near Bermuda and in the Caribbean. The 2014 Survey is focusing on the Coral Triangle in Asia. The impartial scientific data gathered by the Catlin Seaview Survey is intended to strengthen the understanding of how changes beneath the oceans’ surface are impacting the rest of our planet. More information is available atwww.CatlinSeaviewSurvey.com.

          Subsidiaries

          Copyright ? China Reinsurance (Group) Corporation
          Address: No.11 Jinrong Avenue, Xicheng District, Beijing, China
          Post Code: 100033
          IR Line:(8610)66576880

          Copyright © 2019.51棋牌游戏 All rights reserved.m.xlglmtj.cn

          大象棋牌下载| K179棋牌下载| 为乐棋牌| 九八棋牌官网| 金联棋牌APP