Last checked at 9 Feb 2009 07:06
CATLIN ANNOUNCES RESIGNATION OF PREBEN PREBENSEN
HAMILTON, Bermuda - Catlin Group Limited ('CGL'; London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces that Preben Prebensen, Chief Investment Officer, has resigned from the Company, effective 28 February 2009.
Preben Prebensen will become chief executive of Close Brothers Bank plc. His successor will be announced at a later date.
Preben Prebensen joined Catlin in December 2006 following Catlin's acquisition of Wellington Underwriting plc, where he had been Chief Executive. Following the acquisition, he was appointed Deputy Chief Executive of Catlin and was subsequently appointed Chief Investment Officer. Prior to joining Wellington as Chief Executive in 2004, he held a number of senior positions with JP Morgan & Co in London and New York, including Chairman of the London Management Committee and Co-Head of European Investment Banking.
Stephen Catlin, Chief Executive of Catlin Group Limited, said:
"I am very sorry that Preben is leaving Catlin, but I would like thank him for his contributions, both in the aftermath of the Wellington acquisition and as Chief Investment Officer. Preben played an instrumental role in the successful integration of Wellington's operations following its acquisition by Catlin and has been a valuable member of the Group Executive Committee. Preben leaves Catlin with our best wishes for success in his new role."
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For more information contact:
| Media Relations: | ||
| James Burcke, | Tel: | +44 (0)20 7458 5710 |
| Head of Communications, London | Mobile: | +44 (0)7958 767 738 |
| E-mail: | james.burcke@catlin.com | |
| Liz Morley, Maitland | Tel: | +44 (0)20 7379 5151 |
| E-mail: | emorley@maitland.co.uk | |
| Investor Relations: | ||
| William Spurgin, | Tel: | +44 (0)20 7458 5726 |
| Head of Investor Relations, London | Mobile: | +44 (0)7710 314 365 |
| E-mail: | 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 through four underwriting platforms and an international network of offices. Gross premiums written in 2007 exceeded US$3.3 billion. Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). More information about Catlin can be found at www.catlin.com. |
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| 2. | Catlin's four underwriting platforms are: |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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 Canada, Australia, Singapore, Malaysia, Hong Kong, China, Japan, Guernsey, Germany, Belgium, France, Spain, Italy, Switzerland, Austria and Brazil. |
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| 4. | Catlin Group Limited is the title sponsor of the Catlin Arctic Survey, a major scientific expedition to measure the thickness and density of the permanent ice surrounding the North Pole. The project's aim is to determine, with a much greater degree of accuracy, when this ice could disappear as a result of global warming. The Survey, during which three Arctic explorers will trek on foot 1,300 kilometres to the North Pole, will begin in late February 2009. More information is available at www.catlinarcticsurvey.com. |