XL Catlin Auto Insurance Review

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Company Details
Address:

3340 Peachtree Road N.E
Tower Place 100, Suite 2800 and 2950

City:
Atlanta
State:
GA
ZIP Code:
30326
Phone Number:
1-404-443-4910
Year Founded
1985
AM Best Rating:
Company Rating 0 (0 reviews)

Things to Remember...
  • Catlin Group offers specialty property and casualty insurance policies and reinsurance coverage to the world through four operating groups
  • Catlin Group was originally founded as a Lloyd’s of London marine subsidiary in 1985
  • The firm focuses on property and casualty, treaty reinsurance, terrorism and political risk coverage.

This Catlin auto insurance review explores Hamilton, Bermuda-headquartered Catlin Group. Catlin Group offers specialty property and casualty insurance policies and reinsurance coverage to the world through four operating groups.

Catlin’s Lloyd’s of London syndicate division underwrites approximately 24 insurance classes, including property and casualty, aviation, and marine policies.

Catlin’s offices around the world, in the Americas, Asia, Australia, and Europe, reach customers in most major markets.

The firm’s Bermuda headquarters focuses on property and casualty, treaty reinsurance, terrorism and political risk coverage. The Catlin UK arm offers small and medium-sized client commercial risk management and liability coverage.

The US division underwrites property and casualty insurance, such as auto and home insurance and reinsurance coverage.

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Catlin Group Financial Information

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Catlin Group is incorporated in Bermuda. The company’s outstanding shares trade on the pink sheets in the U.S. Financial markets.

Companies whose shares trade on the pink sheets in the U.S. may not qualify for listing requirements established by the New York Stock Exchange or NASDAQ.

Shares traded on the pink sheets may not trade regularly, and obtaining accurate information about the trading markets may be difficult. Catlin Group’s shares also trade on the London Exchange.

According to the company website, the company generated $4.069 million in gross premiums in 2010 vs. $3.715 million in gross premiums the previous year.

Catlin’s net premium income was $3.318 million for 2010 vs. $3.168 million in 2009. The company’s total revenues for 2010 were $3.414 million vs. $3.335 million in 2009.

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Investment and other income reported declined to $195 million in 2010 vs. $417 million in 2009. Catlin reported a lower return on equity in 2010 12.5 percent vs. 2009 24.3 percent.

The company’s loss ratio is 2010 57.5 percent was essentially even to 2009 57.6 percent. The expense ratio increased slightly in 2010 32.3 percent vs. 2009 31.5 percent.

According to Morningstar, the company’s shares trade with an approximate 6.92 price/earnings ratio vs. a 9.93 earnings ratio for the industry.

Similarly, the company’s price/book ratio of 0.43 is less than the industry book ratio of 0.95. Catlin’s shares have a 3.80 cash flow ratio vs. an 8.98 cash flow relationship for the global insurance industry.

Catlin Group’s History

Catlin Group was originally founded as a Lloyd’s of London marine subsidiary in 1985. The company sought to diversify its portfolio by expanding its markets. Catlin opened U.S. offices at first on a non-admitted basis.

The firm sold excess and surplus lines that didn’t require the company’s licensure.

After buying a U.S.-based insurance company with licenses in 30 states, Catlin offered additional insurance lines, including property and casualty, specialty property, and professional liability coverage.

Catlin later purchased Wellington Underwriting, another Lloyd’s syndicator, and obtained additional U.S. market presence. Post-acquisition, Catlin and Wellington emerged as the largest Lloyd’s syndicate.

The company writes insurance in 30 plus categories, including property and casualty, reinsurance, specialty, war and political risk, aerospace, and energy.

General liability, property and casualty, and reinsurance remain key to the company’s future growth strategy. The company employs about 1,615 people in all locations.

Stephen Catlin, Chief Executive and Founder, remains the leader of Catlin Group.

Catlin Group Competitive Market

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According to Dun and Bradstreet, Catlin Group competes with:

  • AEGON
  • Allianz Insurance
  • Aviva-UK
  • Aviva
  • AXA
  • RSA Insurance
  • Chubb Corp.
  • Jardine Lloyd
  • ING
  • Royal Bank of Scotland
  • QBE
  • Friends Provident
  • Kiln
  • Zurich Financial Services
  • Legal and General Group
  • Prudential
  • The Hardy Underwriting Group

Auto insurance and other property and casualty insurance lines involve high competition for customers and premium income.

That’s one of the reasons Catlin and its competitors want to compete for your auto insurance premiums.

Comparing how much you pay for auto insurance rates is a good practice. Auto insurers want your business, especially if you’re a safe driver with a strong credit rating.

Why not compare what you pay for auto insurance today? Start by entering your zip code location, then receive fast, free auto insurance quotes from a variety of top insurance companies!

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