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89.50 -3.00 (-3.24%)

Bid:

88.00

Ask:

91.00

Spread: 3.00 (3.409%)

Market Cap: £298.49m

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Catlin FD announces exit

Fri, 12th Jun 2009 13:55

Insurer and underwriter Catlin is waving goodbye to its finance chief after six years at the company.Chris Stooke, a director since he joined the business in March 2003, will step down at the end of October. He oversaw the firm's £540m stock market float in 2004."I feel it is time to seek new challenges," Stooke said.Catlin said last month that gross written premiums rose 2% during the first quarter of 2009, although its investment performance is still impacted by uncertain market conditions. The company recently completed a 2 for 5 rights issue at 205p to raise £200m after volatile investment markets and the increase in catastrophe and single-risk losses sent it into the red in 2008.