Last checked at 12 Jun 2009 13:35
12 June 2009 Release 2009-16
CATLIN GROUP LIMITED ANNOUNCES BOARD CHANGE
HAMILTON, Bermuda - Catlin Group Limited ('CGL'; London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces that Chris Stooke, chief financial officer, will be leaving the Group later this year. He will present the interim financial results for the period to 30 June 2009 during August and will be stepping down from the Board of Directors by agreement at the end of October, following the search for his successor.
His successor will be announced in due course.
Chris Stooke joined Catlin in March 2003 and has served on the Board as an executive director since that time.
Chris Stooke said:
"After six enjoyable and busy years with Catlin - during which time the Group floated on the London Stock Exchange, grew organically worldwide, executed a major strategic acquisition and raised new equity capital to fund development plans - I feel it is time to seek new challenges. The Company is strongly placed to take advantage of its many opportunities and has a great future ahead of it."
Stephen Catlin, Chief Executive of Catlin Group Limited, said:
"I am sorry that Chris is leaving Catlin, and would like thank him for his many contributions to the Group. Chris joined Catlin when it was still a private company and was instrumental in our successful initial public offering and in our development since then. His contributions to the Board and the executive team will be missed, and he leaves with our best wishes for the future."
- ends -
Continued on next page Catlin Announces Board Change / … Page 2
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 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.
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.