Last checked at 30 Jun 2009 07:00
CATLIN GROUP LIMITED ANNOUNCES APPOINTMENT
OF BENJAMIN MEULI, ROBERT GOWDY TO BOARD OF DIRECTORS
HAMILTON, Bermuda - Catlin Group Limited ('CGL'; London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces the following:
Benjamin Meuli has been appointed to the Group's Board of Directors, effective today. He will become Catlin's chief financial officer later this year following the departure of Christopher Stooke, which was announced earlier this month.
Robert C. Gowdy has been appointed to the Board, effective today, as an independent non-executive director.
Michael Eisenson, a non-executive director, retired from the Board, effective today. He was first appointed to the Board in 2002 by Charlesbank Capital Partners LLC, a private equity firm which was one of Catlin's primary investors at the time.
Both Benjamin Meuli and Robert Gowdy will be subject to election to the Catlin Board of Directors by shareholders at the Annual General Meeting in 2010.
Benajmin Meuli served as chief investment officer and a member of the Executive Board of Swiss Re from 2004 to 2008. From 1998 to 2004 he served as a managing director of Morgan Stanley with primary responsibility for asset and liability management issues linked to large multinational insurance groups, including all areas of investment banking, fixed income, equities and real estate. Prior to joining Morgan Stanley he had a 20-year career with JP Morgan, where he served as a managing director, in charge of European Debt Capital Markets and the European Financial Institutions Group. He also served as chief executive of JP Morgan Life Assurance Ltd.
Robert Gowdy was president and chief executive officer of CGU Insurance Group in the United States, from which he retired in 2001. He was the founder and chief executive of American Sterling Insurance Company and also served as chairman and chief executive of Industrial Indemnity Company. He is a past-chairman of the American Insurance Association. He is a member of the Casualty Actuarial Society and the American Academy of Actuaries. He is a non-executive director of Ivans Inc. and Patriot Insurance Company.
Sir Graham Hearne, chairman of Catlin Group Limited, said:
"I am delighted to announce the appointment of Benjamin Meuli and Robert Gowdy to the Catlin Board. Their experience in the insurance and financial services sectors will greatly benefit the Group. I also take the opportunity to thank Mike Eisenson for his many valued contributions to Catlin over the past seven years."
Director Declaration:
Catlin Group Limited has been notified that there are no details to be disclosed pursuant to Rule 9.6.13 of the Listing Rules in respect of Messrs Meuli and Gowdy.
- 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 365william.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 through four underwriting platforms and an international network of offices. Gross premiums written in 2008 exceeded US$3.4 billion. Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). More information can be found at www.catlin.com.
2. Catlin's four underwriting platforms are:
The Catlin Syndicate at Lloyd's of London (Syndicate 2003), which is a recognised leader of numerous classes of specialty insurance and reinsurance. The Catlin Syndicate was the largest at Lloyd's in 2008 based on gross premiums written of US$2.4 billion. Catlin also operates a life syndicate (Syndicate 3002) at Lloyd's.
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. Catlin UK also underwrites many other classes of commercial insurance.
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 a network of offices throughout the United Sates. More information is available at www.catlinus.com.
3. 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. Catlin operates offices in Australia, Austria, Belgium, Bermuda, Brazil, Canada, China, France, Germany, Guernsey, Italy, Japan, Malaysia, Norway, Singapore, Spain, Switzerland, the United Kingdom and the United States.
4. Catlin is the title sponsor of the Catlin Arctic Survey, a major scientific project whose aim is to determine, with a much greater degree of accuracy, when the floating Arctic sea ice could disappear as a result of global warming. More information is available at www.catlinarcticsurvey.com.