Press Releases
Michael Harper, Jean Claude Damerval to join Catlin Group Board of Directors
HAMILTON, Bermuda - Catlin Group Limited (‘CGL’: London Stock Exchange), the international speciality property/casualty insurer and reinsurer, announces the appointment of two independent non-executive directors, Michael Harper and Jean Claude Damerval, with effect from 14 July 2005.
Michael Harper was formerly chief executive of Kidde plc and held senior roles at both Kidde and at Vickers plc. He is currently non-executive chairman of The Vitec Group plc and a non-executive director of Umeco plc, Ricardo plc and BBA Group plc. The Catlin Board intends to designate Mr Harper as its senior independent director, as defined in the Combined Code.
Jean Claude Damerval is an independent financial consultant based in Bermuda, specialising in international transactions in the insurance/reinsurance and asset management sectors. He was formerly group controller, group managing director and CEO for international operations for AXA Group. He currently serves as a director of Scottish Re Group Limited, a Bermuda based global life reinsurance company.
Catlin also announces that John Marion, who has served as a non-executive director since March 2004, will step down from the Board with effect from 14 July 2005.
Sir Graham Hearne, chairman of Catlin Group Limited, said:
“I am delighted to welcome Michael Harper and Jean Claude Damerval to the Catlin Board. Both Michael and Jean Claude have had impressive careers in the international business arena, and the Catlin Board will be greatly enhanced by their expertise and independent viewpoints. I would also like to thank John Marion for his service as a non-executive director during the Catlin Group’s important first year as a listed company.”
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For more information contact:
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Media Relations: |
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James Burcke, |
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+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, |
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+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.
The Catlin Group also operates subsidiaries located in Houston and New Orleans in the US, as well as in the UK, Guernsey , Canada , Germany , Belgium , Singapore , Malaysia and Australia . These subsidiaries, which underwrite on behalf of Catlin’s underwriting platforms, allow Catlin to work more closely with local clients and their brokers.