Director/PDMR Shareholding

Catlin Group Limited
05 April 2007


Catlin Group Limited

5 April 2007


                  DIRECTORS' AND PERSONS DISCHARGING MANAGERIAL
                         RESPONSIBILITIES' SHAREHOLDINGS



This is to announce a change in shareholding by a 'Connected Person' to Jonathan
Kelly, a Non-Executive Director.


Pursuant to the terms of a Warrant Instrument entered into by Catlin Group
Limited (the 'Company') on 4 July 2002 (as amended), each of Capital Z Catlin
Investments, Ltd, Capital Z Catlin Private Investment, Ltd and Capital Z
Investments, LLC (together 'CapitalZ') exercised warrants granted to them
resulting in the issue today of 2,852,965 common shares of $0.01 each in the
capital of the Company ('Common Shares'). CapitalZ is a connected person to
Jonathan Kelly.


The warrants have an exercise price of $5 per share and were exercised on a net
of exercise price basis under the terms of the Warrant Instrument. The number of
Common Shares issued to each CapitalZ entity as a result of the exercise of the
warrants is as follows:

             Name                 Number of Common Shares      Number of Common 
                                    subject to Warrants          Shares issued

Capital Z Catlin Investments,        3,302,460.1406                   1,660,438
Ltd
Capital Z Catlin Private                17,593.5305                       8,845
Investment, Ltd
Capital Z Investments, LLC           2,354,236.5591                   1,183,682


This announcement is made in accordance with Disclosure Rule 3.1.4 R (1)(a).


Following the issue of the new Common Shares, the Company's issued share capital
is 252,908,036 Common Shares.




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