Press Releases
Quarterly Forecasts Issued for Catlin Syndicate at Lloyd's
HAMILTON, Bermuda - Catlin Group Limited (‘CGL’: London Stock Exchange), the international specialist property and casualty insurer and reinsurer, has today issued forecasts relating to the open 2003 and 2004 years of account of the Catlin Syndicate at Lloyd’s of London (Syndicate 2003), which is managed by Catlin Underwriting Agencies Limited.
The forecasts, which are set out below, are expressed as a percentage of capacity based on figures as at 31 March 2005:
|
Year of |
Capacity |
Current Forecast |
Previous Forecast |
|
2003 |
£500.0 |
13.7% - 18.7% |
13.7% - 18.7% |
|
2004 |
£500.0 |
8.8% - 13.8% |
No previous forecast |
The forecast for the 2004 year of account is the first forecast issued for this open year and should be treated as preliminary as a considerable amount of business written in the 2004 year of account remains on risk.
Catlin Group Limited provided 100% of the capacity of the Catlin Syndicate for both 2003 and 2004.
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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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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 £500 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.