Press Releases
Catlin Group Statement Regarding Increase in Investability Weighting
HAMILTON, Bermuda - FTSE International announced on Wednesday that the Investability Weighting in the FTSE 250 Index for Catlin Group Limited (‘CGL’: London Stock Exchange) will increase from 40 per cent to 75 per cent, effective 20 June 2005.
This decision follows significant recent changes in the composition of Catlin’s share register, including market sales by several of the Group’s pre-IPO equity investors. As a result of these changes, Catlin’s free-float has substantially increased.
Stephen Catlin, Chief Executive of the Catlin Group, said:
“The Catlin Group has continued to generate strong results since becoming a public company, and we hope that the increasing liquidity will make it easier for investors to acquire the Group’s shares.”
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For more information contact:
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Media Relations: |
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James Burcke, |
Tel: Mobile: |
+44 (0)20 7458 5710
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Liz Morley, |
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+44 (0)20 7379 5151 emorley@maitland.co.uk |
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Investor Relations: |
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William Spurgin, |
Tel: E-mail: |
+44 (0)20 7458 5726 +44 (0)7710 314 365 |
Notes to editors:
1. The Catlin Group, headquartered in Bermuda, is an international specialist property/casualty insurer and reinsurer writing more than 30 classes of business worldwide. Catlin wrote gross premiums of US$1.43 billion and reported record net income of US$154.1 million in 2004. Catlin shares are traded on the London Stock Exchange (ticker symbol: ‘CGL’).
2. The Catlin Group operates three underwriting platforms:
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The Catlin Syndicate at Lloyd’s (Syndicate 2003). The Catlin Syndicate is the eighth largest syndicate at Lloyd’s based on 2005 premium capacity of Ł500 million. It is a recognised leader of numerous classes of specialty insurance and reinsurance.
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Catlin Bermuda (Catlin Insurance Company Ltd.). Catlin Bermuda began underwriting in 2002 and writes property treaty and casualty treaty reinsurance and property and casualty insurance for US risks on a surplus lines basis.
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Catlin UK (Catlin Insurance Company (UK) Ltd.). Catlin UK specialises in writing commercial property, general liability, professional indemnity, directors' and officers' liability and commercial crime insurance for UK clients. It also writes other classes of business written by the Catlin Syndicate.
All three Catlin Group underwriting platforms have been assigned ‘A’ (Excellent) financial strength ratings by A.M. Best Company.