Kenneth Goldstein, Alton Irby Proposed for Appointment to Catlin Board of Directors
5 April 2007HAMILTON, Bermuda – The Board of Catlin Group Limited (‘CGL’: London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces the proposed appointment of Kenneth Goldstein and Alton F. Irby III as Independent Non-Executive Directors of the Company. The appointments are subject to approval by shareholders at the Company’s Annual General Meeting, to be held on 24 May 2007.
Kenneth Goldstein has held numerous senior positions in the US insurance industry over the past 30 years. He was President and Chief Executive Officer of Universal Underwriters Group until his retirement in 1999. He also was Executive Vice President of St Paul Fire & Marine Insurance Company and President of Swett & Crawford Management Co., and he held various management positions at American International Group Inc. He previously was a Director of DirectFac Inc and was a member of the advisory board of American Wholesale Insurance Group.
Alton Irby has had a distinguished career in the investment banking and insurance sectors. He was a Founding Partner of Hambro Magan Irby, a privately held investment bank, Chairman and CEO of National Westminster Global Investment Banking, Chairman and CEO of Hawkpoint Partners and Founding Partner of Tricorn Partners. He is currently Chairman and Founding Partner of London Bay Capital, a private equity firm based in San Francisco. He is Chairman of ContentFilm plc, and he also serves as a Director of McKesson Corp., McKesson UK Ltd., Centaur Media Group, Penumbra Ltd. and Edmiston & Co. He spent the early part of his career with US insurance broker Fred S. James & Company, was subsequently Chairman of Lloyd’s broker Wigham Poland and was ultimately appointed Deputy Chairman of Sedgwick Group Limited.
As previously announced, Jonathan Kelly will retire from the Board of Directors at the conclusion of the Annual General Meeting, as the entitlement under the Group’s Bye-laws for his appointing shareholder to maintain a Director in office will have lapsed. In addition, Richard Haverland is retiring from the Board, effective at the conclusion of the Annual General Meeting.
Sir Graham Hearne, chairman of Catlin Group Limited, said:
“I am delighted to announce the proposed appointment of Kenneth Goldstein and Alton Irby to the Catlin Board. Ken and Alton have a wealth of experience in insurance and investment banking, and the Group will benefit greatly by the addition of their expertise and independent viewpoints. I would also like to thank Jonathan Kelly and Richard Haverland for their many contributions to the Group’s success.”
Director Declaration:
Catlin Group Limited has been notified that there are no details to be disclosed pursuant to Rule 9.6.13 of the Listing Rules in respect of Mr Goldstein. Mr Goldstein holds 7,500 common shares in the capital of the Company.
Pursuant to Rule 9.6.13 (1) of the Listing Rules, Catlin Group Limited has been notified that Mr Irby is a director of McKesson Corporation (US), Centaur Media plc and ContentFilm Plc.
The Company confirms that there is no further information relating to Mr Irby which is required to be disclosed under Rule 9.6.13 of the Listing Rules.
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Notes to editors:
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Catlin Group Limited, headquartered in Bermuda, is an international specialist property/casualty insurer and reinsurer writing more than 30 classes of business worldwide through four underwriting platforms and an international network of offices. Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). More information about Catlin can be found www.catlin.com. | |
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On 18 December 2006, Catlin’s offer to acquire Wellington Underwriting plc was declared unconditional. Combined, Catlin and Wellington underwrote gross premiums of US$2.7 billion and produced net income of US$428.5 million. At 31 December 2006, Catlin’s total assets amounted to US$8.8 billion and stockholders’ equity amounted to US$2.0 billion. | |
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Catlin’s four underwriting platforms are:
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Catlin’s international network of offices allows the Group to diversify further its risk portfolio and to work more closely with local policyholders and brokers. Besides its offices in the UK, US and Bermuda, Catlin operates offices in Canada (Toronto and Calgary), Australia (Sydney), Singapore, Malaysia (Kuala Lumpur), Hong Kong, Guernsey, Germany (Cologne), Belgium (Antwerp), France (Paris), Spain (Barcelona), Switzerland (Zurich) and Austria (Innsbruck). |