Catlin sees sharp rise in rates on renewals

Last year was a year of disasters but not necessarily a disastrous year for Bermuda-based insurance underwriter Catlin Group as customers accepted a hefty increase in premia as a result.

Last year was a year of disasters but not necessarily a disastrous year for Bermuda-based insurance underwriter Catlin Group as customers accepted a hefty increase in premia as a result.

The operator of the biggest syndicate on Lloyd's of London stayed in profit in 2011, albeit only just, despite swallowing $961m in gross losses ($678m net) from natural catastrophes.

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