Press Releases
Catlin acquires Angel Underwriting Strategic Holdings Ltd
19 April 2010
LONDON – Catlin Group Limited (‘CGL’: London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces that Catlin has acquired the professional indemnity and directors’ & officers’ liability book of business underwritten by Angel Underwriting Ltd (Angel).
Angel, based in Colchester, Essex, was established in 2004 as a specialist underwriting agency specialising in insurance coverage for Professional Indemnity and Directors’ & Officers’ liability. Angel has underwritten business as a coverholder on behalf of Catlin UK (Catlin Insurance Company (UK) Ltd.) for the past several years.
Mark Shreeve, Angel’s managing director and founder, will join Catlin UK as director Angel Underwiting. The Angel office in Colchester will become a Catlin UK regional office.
Richard Clapham, underwriting director for Catlin UK, said:
“I am very pleased that Catlin has acquired the business of Angel together with the excellent team based in Colchester. I look forward to working more closely with Mark and his team to strengthen Catlin’s position in the UK regional professional indemnity and D & O markets”
Catlin UK writes numerous classes of non-life insurance for UK businesses and professionals and operates from offices in London, Glasgow, Leeds, Birmingham, Ipswich Tonbridge, Hitchin and now Colchester. Catlin UK has a financial strength rating of ‘A’ (Excellent) from A.M.Best Company.
Mark Shreeve, director Angel Underwriting said:
“Today is an important step forward for Angel, the resources from the Catlin Group will allow us to accelerate growth whilst continuing to deliver the same high levels of service our agents have come to expect”.
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For more information contact:
| Media Relations: |
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James Burcke, |
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+44 (0)20 7458 5710 |
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Investor Relations: |
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William Spurgin, |
Tel: |
+44 (0)20 7458 5726 |
Notes to editors:
- Catlin Group Limited, headquartered in Bermuda, is an international specialist property/casualty insurer and reinsurer writing more than 30 classes of business worldwide through six underwriting hubs. Gross premiums written in 2009 amounted to more than US$3.7 billion.
- Catlin has established operating hubs in London, Bermuda, the United States, the Asia-Pacific region, Europe and Canada. Through these hubs, Catlin works closely with policyholders and their brokers. The hubs also provide Catlin with product and geographic diversity. Altogether, Catlin operates 47 offices in 20 countries.
- Catlin's underwriting units are rated 'A' by A.M. Best and Standard & Poor's.
- Catlin is the title sponsor of the Catlin Arctic Survey, an ongoing scientific project in the Arctic whose aim is to produce scientific data that scientists can use to predict the effects of climate change and other environmental changes. More information regarding the Survey is available at www.catlinarcticsurvey.com.
- Catlin shares are traded on the London Stock Exchange (ticker
symbol: CGL). More information about Catlin can be found at
www.catlin.com.