Sandy storm estimates

RNS Number : 7453T

Catlin Group Limited

18 December 2012

 



Release 2012-25

CATLIN ESTIMATES SANDY STORM LOSSES

HAMILTON, Bermuda - Catlin Group Limited ('CGL': London Stock Exchange), the international specialty property/casualty insurer and reinsurer, said today that it currently estimates its Sandy-related losses at approximately US$200 million, net of reinsurance and reinstatements. The storm system caused extensive damage to portions of the United States and Canada on 29 October.

This estimate is subject to a considerable degree of uncertainty due to the size of the storm system and the wide variety of damage it caused.  The Group anticipates that it will have a fuller understanding of the losses caused by the storm when it reports its 2012 full-year results.

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For more information contact:

Media Relations:
James Burcke, Head of Communications, London	Tel: Mobile: E-mail:	[phone] [phone] [e-mail]
Liz Morley, Maitland	Tel: E-mail:	[phone] [e-mail]
Investor Relations:
William Spurgin, Head of Investor Relations, London	Tel: Mobile: E-mail:	[phone] [phone] [e-mail]

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 six underwriting hubs. Gross premiums written in 2011 amounted to US$4.5 billion.

2.   Catlin has established operating hubs in London, Bermuda, the United States, the Asia-Pacific region, Europe and Canada. Through these hubs, Catlin works closely with policyholders and their brokers. The hubs also provide Catlin with product and geographic diversity. Altogether, Catlin operates more than 55 offices in 21 countries.

3.   Catlin's underwriting units are rated 'A' by A.M. Best and Standard & Poor's.

4.   Catlin shares are traded on the London Stock Exchange (ticker symbol: CGL). More information about Catlin can be found at www.catlin.com.

5.   Catlin is the title sponsor of the Catlin Seaview Survey, a major scientific expedition that is the first comprehensive study to document the composition and health of sections of the Great Barrier Reef across an unprecedented range of depths. The scientific data currently being gathered by the Catlin Seaview Survey, which is now under way, will strengthen the understanding of how climate change and other environmental changes are likely to affect ocean ecosystems. More information is available at www.catlinseaviewsurvey.com.

 

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