Catalina Re has completed 32 non-life insurance transactions globally, covering over $10bn of gross technical provisions across a variety of lines of businesses. Those transactions encompass company acquisitions, reinsurance transactions and portfolio transfers.

Here is a snapshot of Catalina’s more recent non-life transactions:

Zurich UK EL

Catalina entered into a two-stage transaction with Zurich relating to a $2bn portfolio of UK Employers’ Liability business underwritten by Zurich. Catalina has reinsured this business since December 2018 and is currently working with Zurich towards completing a UK portfolio transfer of the reinsured liabilities to combine them with Catalina’s other UK operations.

Asia Capital Re

Catalina completed the acquisition of the ACR Group in March 2020 and placed the company into run-off with a view to creating a market-leading Asia-domiciled legacy specialist platform. At the time of the acquisition, ACR Group had gross technical provisions of $1.3bn, covering Property, Engineering, Liability and other classes.

UK Construction QS

Catalina entered into a quota share reinsurance transaction in March 2021 to provide meaningful capital relief and protection against deterioration in relation to our counterparty’s loss reserves for its UK Construction-related risks, covering over $300m of losses. The quota share allowed our counterparty to redeploy capital to its core underwriting activities.

In-the-money ADC

In April 2021 Catalina entered into a reinsurance agreement to provide a substantial adverse development cover for multiple Liability and other classes on a block of $1.1bn of reserves for a large global reinsurer.

QBE US E&S Business

In May 2022 Catalina entered into a loss portfolio transfer reinsurance with respect to a $350m portfolio of Excess & Surplus business underwritten by QBE’s North America division, which was non-core and had been placed into run-off. As part of the transaction, Catalina took over responsibility for claims handling.