Press Releases

Gene Lee Appointed to 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 Gene Lee as a non-executive director, with effect from 3 February 2006.

Gene Lee is a principal with Cypress Advisors Inc., a private equity firm based in New York.  Prior to joining Cypress in 2001, he worked for TH Lee Putnam Ventures, a venture capital fund affiliated with The Thomas Lee Company. He has also worked for Morgan Stanley and Princes Gate Investors, a private equity fund affiliated with Morgan Stanley. He was a member of the Catlin Group’s Board from July 2002 through September 2003, prior to the Company’s initial public offering of common shares.

Gene Lee was appointed to the Catlin Group’s Board of Directors by CMBP II (Cayman) Catlin Ltd. and CMBP II Parallel (Cayman) Catlin Ltd. under a provision in the Catlin Group’s bye-laws which allows certain major shareholders the right to appoint a director for a specific period.  He succeeds William Spiegel, president of Cypress Advisors Inc, who retired from the Board effective 3 February 2006.

Sir Graham Hearne, chairman of the Catlin Group, said:

“I am pleased to welcome Gene Lee to the Catlin Group Board. Gene has an excellent knowledge of Catlin’s business, having served as a non-executive director prior to the Catlin Group’s IPO. I would also like to pay tribute to William Spiegel for his invaluable contribution to the Catlin Group, both before and after the IPO.”

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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 one of the ten largest syndicates at Lloyd’s based on 2006 premium capacity of £450 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.