Press Releases

Catlin Group Announces Changes to Underwriting Management Structure

15 December 2005

HAMILTON, Bermuda - Catlin Group Limited ('CGL': London Stock Exchange), the international specialist property and casualty insurer and reinsurer, announces changes to its underwriting management structure, including:


The establishment of the Group Underwriting Board recognises the Catlin Group's evolution from its origins at Lloyd's to its current multiple underwriting platform structure. The Board is chaired by Paul Brand, Catlin's chief underwriting officer. The members of the Board are Nicolas Burkinshaw, Richard Clapham, Jonathan Gale, Douglas Howat, Andrew McMellin, Matthew Paskin, and Alastair Shore.

Douglas Howat, Matthew Paskin and Alastair Shore serve as executive members of the Board and will primarily be responsible for overall Group underwriting strategy and implementation, whilst Nicolas Burkinshaw, Richard Clapham, Jon Gale and Andrew McMellin are primarily responsible for strategy and implementation at the Catlin Group's individual underwriting platforms.

In a related development, Nicolas Burkinshaw has been appointed active underwriter of the Catlin Syndicate with immediate effect, succeeding Paul Brand. In his new role, Nick Burkinshaw will manage the underwriting activities of the Catlin Syndicate, which is one of the 10 largest syndicates at Lloyd's in terms of premium capacity.

In addition, Andrew McMellin has been appointed deputy underwriter of the Catlin Syndicate, a newly created position.

Commenting on the changes, Paul Brand said:

'I am pleased to announce these important changes to our underwriting management structure. As the Catlin Group has grown, both in terms of premium volume and number of underwriting employees, it is essential that we have the strongest possible underwriting management team in place.

'The formation of the Group Underwriting Board is an important step in this process. Doug Howat, Matt Paskin and Alastair Shore will closely work with me to ensure that the Group formulates and executes an underwriting strategy across more than 30 classes of business that provides innovative solutions to our clients' needs while at the same time maintains Catlin's firm commitment to disciplined underwriting.

'The appointment of Nick Burkinshaw as active underwriter of the Catlin Syndicate and Andrew McMellin as his deputy recognise both the skills and leadership that Nick and Andrew have demonstrated as Catlin underwriting directors. The Catlin Syndicate is regarded as a leader of numerous classes of business at Lloyd's, and I expect that the syndicate's reputation as a centre of quality underwriting will continue to increase under Nick's and Andrew's stewardship.'

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For more information:

Media Relations:    
James Burcke,
Head of Communications,
London

Tel:
Mobile:
E-Mail:

 +44 (0)20 7458 5710
+44 (0)7958 767 738
james.burcke@catlin.com 
Liz Morley,
The Maitland Consultancy,
London		 Tel:
E-mail:		 +44 (0)20 7379 5151
emorley@maitland.co.uk
Investor Relations:    
William Spurgin,
Head of Investor Relations,
London

Tel:
Mobile:
E-mail:

 +44 (0)20 7458 5726
+44 (0)7710 314 365
william.spurgin@catlin.com

Notes:

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 currently operates three underwriting platforms:

  • The Catlin Syndicate at Lloyd's of London (Syndicate 2003). The Catlin Syndicate is the eighth largest syndicate at Lloyd's based on 2005 premium capacity of £500 million. It is a recognised leader of numerous classes of specialty insurance and reinsurance. Over the past 20 years, the Catlin Syndicate and its predecessors have consistently outperformed the Lloyd's market as a whole.

  • Catlin Bermuda (Catlin Insurance Company Ltd.). Catlin Bermuda underwrites property treaty and casualty treaty reinsurance and property and casualty insurance for US risks on a surplus lines basis.

  • 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 underwriting platforms have a financial strength rating of 'A' (Excellent) from A.M. Best Company.

In addition, Catlin announced in September 2005 that it had reached an agreement to purchase a shell insurance company which is an admitted insurer in 27 US states. Subject to completion of the acquisition and regulatory approval, this company will be renamed Catlin Insurance Company Inc. and become the Group's fourth underwriting platform, writing property/casualty coverage for US commercial clients that require coverage written on an admitted basis.

The Catlin Group also has established offices in the US, UK, Guernsey, Canada, Germany, Belgium, Singapore, Malaysia and Australia. These offices, which underwrite on behalf of Catlin's underwriting platforms, allow Catlin to work more closely with local clients and their brokers.

3.   For more information about Catlin, please see the Group's website at www.catlin.com.