Press Releases

Catlin Group Participates in Lloyd's Venture in Shanghai

17 April 2007 Release 2007-6

HAMILTON, Bermuda – Catlin Group Limited ('CGL': London Stock Exchange), the international specialty insurer and reinsurer, is pleased to announce that the Catlin Syndicate at Lloyd's (Syndicate 2003) is one of the inaugural participants in Lloyd's new reinsurance operation in China, which opened 16 April in Shanghai.

Linmao Li, formerly a member of Catlin's underwriting staff in London, has been seconded to Lloyd’s Reinsurance Company (China) Ltd (‘LRCCL’), the new Lloyd’s operation. The Catlin Syndicate, which is the largest syndicate at Lloyd’s in terms of premium capacity, will actively operate as part of LRCCL, underwriting reinsurance business placed through the new company.

The establishment of LRCCL enables Lloyd's syndicates, including Catlin, to underwrite onshore reinsurance business throughout China. It will provide Chinese insurers with full access to the Lloyd’s market and give Lloyd's improved access to the rapidly developing Chinese reinsurance market. Lloyd's has had a long relationship with the Chinese insurance market and has supported Chinese insurers by providing offshore reinsurance capacity in areas such as marine and aviation for over three decades.

Stephen Catlin, chief executive of Catlin Group Limited, said:

"We are very proud to be one of the few Lloyd's syndicates to establish operations in Shanghai concurrent with the opening of Lloyd’s Reinsurance Company (China) Ltd. Our presence in Shanghai complements Catlin's existing Asian offices in Hong Kong, Singapore and Kuala Lumpur and is part of Catlin's strategy to work as closely as possible with local brokers and their clients."

Stephen Catlin and other Catlin executives participated in the official opening of LRCCL.

- ends -

For more information contact:

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, Maitland

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 to editors

1.   Catlin Group Limited, headquartered in Bermuda , is an international specialist property/casualty insurer and reinsurer writing more than 30 classes of business worldwide. Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). More information about Catlin can be found at www.catlin.com.
2.   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.
3.  

 Catlin's four underwriting platforms are:

  • The Catlin Syndicate at Lloyd's of London (Syndicate 2003) is a recognised leader of numerous classes of specialty insurance and reinsurance. The Catlin Syndicate is the largest at Lloyd's in 2007 based on premium capacity of £1.25 billion.
  • Catlin Bermuda (Catlin Insurance Company Ltd.), which is a leading participant in the Bermuda market, underwriting a diversified portfolio of property treaty, casualty treaty, political risk and terrorism, and structured risk coverages.
  • Catlin UK (Catlin Insurance Company (UK) Ltd.), which specialises in underwriting commercial non-life insurance for UK clients through a network of regional offices. It also writes other classes of business written by the Catlin Syndicate.

  • Catlin US, which encompasses Catlin's operations based in the United States. Catlin US underwrites a wide variety of specialty property/casualty insurance and reinsurance products from more than 15 offices.

4.  

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, Australia, Singapore, Malaysia, Hong Kong, China, Guernsey, Germany, Belgium, France, Spain, Switzerland and Austria.



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