Castelnau Group Regulatory News (CGL)

25 Jul 2008 17:13



25 July 2008 Release 2008-10

NICHOLAS LYONS TO BE APPOINTED TO CATLIN GROUP LIMITED BOARD OF DIRECTORS

LONDON - Catlin Group Limited ('CGL': London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces that it will appoint Nicholas Lyons as an independent non-executive director with effect from 6 August 2008. 

He will be subject to election to the Catlin Board of Directors by shareholders at the Company's Annual General Meeting in 2009. 

Nick Lyons was formerly a managing director of Lehman Brothers in London, where he headed the European Financial Institutions Group. Prior to joining Lehman Brothers, he had held executive positions at JP Morgan & Co and Salomon Brothers in London. He currently serves as non-executive chairman of Miller Insurance Services Limited, a leading international specialist insurance and reinsurance broker based in London.

Alton F. Irby III, who has served as an independent non-executive director since May 2007, will resign from the Board with effect from 6 August 2008 due to the pressure of his other commitments.

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

"I am delighted to announce the appointment of Nick Lyons to the Catlin Board. Nick's impressive background and his knowledge of international financial markets will greatly benefit the Group. I would also like to thank Alton Irby for his service as a non-executive director and his valuable contribution to Catlin over the past year.

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 Mr Lyons.

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Notes to editors:

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 is the largest at Lloyd's in 2008 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. In addition, Catlin UK underwrites other classes of commercial business which are also 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 a network of offices throughout the U.S. Catlin US includes Catlin Insurance Company Inc. and Catlin Specialty Insurance Company Inc.