Castelnau Group Regulatory News (CGL)

5 Apr 2007 12:47

Catlin Group Limited05 April 2007 KENNETH GOLDSTEIN, ALTON IRBY PROPOSED FOR APPOINTMENT TO CATLIN BOARD OF DIRECTORS HAMILTON, Bermuda - The Board of Catlin Group Limited ('CGL': London StockExchange), the international specialty property/casualty insurer and reinsurer,announces the proposed appointment of Kenneth Goldstein and Alton F. Irby III asIndependent Non-Executive Directors of the Company. The appointments are subjectto approval by shareholders at the Company's Annual General Meeting, to be heldon 24 May 2007. Kenneth Goldstein has held numerous senior positions in the US insuranceindustry over the past 30 years. He was President and Chief Executive Officer ofUniversal Underwriters Group until his retirement in 1999. He also was ExecutiveVice President of St Paul Fire & Marine Insurance Company and President of Swett& Crawford Management Co., and he held various management positions at AmericanInternational Group Inc. He previously was a Director of DirectFac Inc and was amember of the advisory board of American Wholesale Insurance Group. Alton Irby has had a distinguished career in the investment banking andinsurance sectors. He was a Founding Partner of Hambro Magan Irby, a privatelyheld investment bank, Chairman and CEO of National Westminster Global InvestmentBanking, Chairman and CEO of Hawkpoint Partners and Founding Partner of TricornPartners. He is currently Chairman and Founding Partner of London Bay Capital, aprivate equity firm based in San Francisco. He is Chairman of ContentFilm plc,and he also serves as a Director of McKesson Corp., McKesson UK Ltd., CentaurMedia Group, Penumbra Ltd. and Edmiston & Co. He spent the early part of hiscareer with US insurance broker Fred S. James & Company, was subsequentlyChairman of Lloyd's broker Wigham Poland and was ultimately appointed DeputyChairman of Sedgwick Group Limited. As previously announced, Jonathan Kelly will retire from the Board of Directorsat the conclusion of the Annual General Meeting, as the entitlement under theGroup's Bye-laws for his appointing shareholder to maintain a Director in officewill have lapsed. In addition, Richard Haverland is retiring from the Board,effective at the conclusion of the Annual General Meeting. Sir Graham Hearne, chairman of Catlin Group Limited, said: "I am delighted to announce the proposed appointment of Kenneth Goldstein andAlton Irby to the Catlin Board. Ken and Alton have a wealth of experience ininsurance and investment banking, and the Group will benefit greatly by theaddition of their expertise and independent viewpoints. I would also like tothank Jonathan Kelly and Richard Haverland for their many contributions to theGroup's success." Director Declaration: Catlin Group Limited has been notified that there are no details to be disclosedpursuant to Rule 9.6.13 of the Listing Rules in respect of Mr Goldstein. MrGoldstein holds 7,500 common shares in the capital of the Company. Pursuant to Rule 9.6.13 (1) of the Listing Rules, Catlin Group Limited has beennotified that Mr Irby is a director of McKesson Corporation (US), Centaur Mediaplc and ContentFilm Plc. The Company confirms that there is no further information relating to Mr Irbywhich is required to be disclosed under Rule 9.6.13 of the Listing Rules. - ends - For more information contact: Media Relations:James Burcke, Tel: +44 (0)20 7458 5710Head 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 5726Head 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 worldwide through four underwriting platforms and an international network of offices. Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). More information about Catlin can be found at www.catlin.com. 2. On 18 December 2006, Catlin's offer to acquire Wellington Underwriting plc was declared unconditional. Combined, Catlin and Wellington underwrote gross premiums of US$2.7 billion and produced net income of US$428.5 million. At 31 December 2006, Catlin's total assets amounted to US$8.8 billion and stockholders' equity amounted to US$2.0 billion. 3. Catlin's four underwriting platforms are: • The Catlin Syndicate at Lloyd's of London (Syndicate 2003) is a recognised leader of numerous classes of specialty insurance and reinsurance. The Catlin Syndicate is the largest at Lloyd's in 2007 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. It also writes other classes of business 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 more than 15 offices. 4. 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. Besides its offices in the UK, US and Bermuda, Catlin operates offices in Canada (Toronto and Calgary), Australia (Sydney), Singapore, Malaysia (Kuala Lumpur), Hong Kong, Guernsey, Germany (Cologne), Belgium (Antwerp), France (Paris), Spain (Barcelona), Switzerland (Zurich) and Austria (Innsbruck). This information is provided by RNS The company news service from the London Stock Exchange