Re Rating Upgrade

Catlin Group Limited 01 October 2007 CATLIN REACTS TO UPGRADE IN A.M. BEST'S OUTLOOK FOR CATLIN GROUP RATINGS HAMILTON, Bermuda - Catlin Group Limited ('CGL': London Stock Exchange), the international specialty property/casualty insurer and reinsurer, welcomes today's announcement by A.M. Best Company to upgrade the outlook to stable from negative on the ratings assigned to the Catlin Group and its subsidiaries. In its announcement, A.M Best noted that the improved outlook reflects the satisfactory resolution of the agency's concerns regarding integration risk following Catlin's acquisition of Wellington Underwriting plc in December 2006. A.M Best in its announcement noted that Catlin's financial results for the period ended 30 June 2007 'reflect sustained strong performance' and that A.M. Best expects Catlin 'to produce an excellent technical result at year-end 2007'. Stephen Catlin, chief executive of Catlin Group Limited, said: 'I am delighted that A.M. Best has upgraded its outlook on the Catlin's ratings to 'stable'. This action not only affirms our successful integration of Wellington's operations but also attests to Catlin's strong financial performance during the first half of 2007.' The upgraded outlook applies to the financial strength ratings of 'A' (Excellent) and issuer credit ratings of 'a' assigned by A.M. Best to Catlin Bermuda, Catlin UK, and Catlin Insurance Company Inc. and Catlin Specialty Insurance Company Inc. in the United States. In addition, A.M. Best has issued a debt rating of 'bbb' to Catlin Bermuda's US$600 million in non-cumulative preferred shares and an issuer credit rating of 'bbb' to Catlin Group Limited. A.M. Best has separately assigned a financial strength rating of 'A' (Excellent) to the Catlin Syndicate at Lloyd's (Syndicate 2003). - ends - 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 Mobile: +44 (0)7710 314 365 Relations, London 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. Gross premiums written in 2006 exceeded US$2.6billion. Catlin shares are traded on the London Stock Exchange (ticker symbol:CGL). More information about Catlin 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 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 a network of offices throughout the U.S. Catlin US includes Catlin Insurance Company Inc. and Catlin Specialty Insurance Company Inc. 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. Besides its offices in the UK, US and Bermuda, Catlin operates offices in Canada, Australia, Singapore, Malaysia, Hong Kong, China, Guernsey, Germany, Belgium, France, Spain, Switzerland and Austria. This information is provided by RNS The company news service from the London Stock Exchange
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