Trading Statement

Catlin Group Limited
26 May 2005


                     CATLIN GROUP LIMITED TRADING STATEMENT

HAMILTON, Bermuda - The Board of Directors of Catlin Group Limited ('CGL':
London Stock Exchange), released the following trading statement after the
conclusion of the Group's Annual General Meeting, held Wednesday 25 May 2005 in
Bermuda:

Current Trading

We are pleased to report continued strong performance by the Catlin Group during
2005. Rate adequacy remains favourable across the classes of business
underwritten by the Group, with a weighted average premium rate decrease of 2
per cent to April 30 2005 compared with the previous year. Loss experience to
date has been within projections.

Net premiums earned and net income are developing in line with expectations.
Given the rate softening occurring in certain classes and the Group's commitment
to underwriting profit, there has been and will likely remain a reduction in
gross premium written from the previous year.

Other Developments

There have been a number of other important developments for the Catlin Group
during 2005:

•   Liquidity in Catlin Group shares has increased significantly following
    recent changes to the composition of the share register, including market
    sales by some of our pre-IPO private equity investors.

•   Catlin Canada, based in Toronto, will shortly commence operations,
    focusing on property, casualty, marine and aviation business.

•   Catlin Guernsey will, subject to regulatory approvals, become the newest
    Catlin company, writing general aviation business on behalf of Catlin
    Syndicate at Lloyd's.

•   Catlin Insurance Company (UK) Ltd. ('Catlin UK'), has successfully
    commenced trading following its authorisation by the UK Financial Services
    Authority in March. Upon its authorisation, Catlin UK was assigned a
    financial strength rating of 'A' (Excellent) by A.M. Best Company.

Stephen Catlin, Chief Executive Officer, commented:

'I am encouraged by our current trading and the potential of our new
initiatives. In a challenging market, we are maintaining our focus on
underwriting discipline, maximising new opportunities and actively managing our
capital.'

                                    - ends -

For more information contact:

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

Notes to editors:

1.  The Catlin Group, headquartered in Bermuda, is an international
    specialist property/casualty insurer and reinsurer writing more than
    30 classes of business worldwide. Catlin wrote gross premiums of US$1.43
    billion and reported record net income of US$154.1 million in 2004.  
    Catlin shares are traded on the London Stock Exchange (ticker symbol:'CGL').

2.  The Catlin Group operates three underwriting platforms:

•   The Catlin Syndicate at Lloyd's (Syndicate 2003). The Catlin Syndicate
    is the eighth largest syndicate at Lloyd's based on 2005 premium capacity of
    £500 million. It is a recognised leader of numerous classes of specialty
    insurance and reinsurance.


•   Catlin Bermuda (Catlin Insurance Company Ltd.). Catlin Bermuda began
    underwriting in 2002 and writes property treaty and casualty treaty
    reinsurance and property and casualty insurance for US risks on a surplus
    lines basis.

•   Catlin UK (Catlin Insurance Company (UK) Ltd.). Catlin UK specialises in
    writing commercial property, general liability, professional indemnity,
    directors' and officers' liability and commercial crime insurance for UK
    clients. It also writes other classes of business written by the Catlin
    Syndicate.

    All three Catlin Group underwriting platforms have been assigned 'A'
    (Excellent) financial strength ratings by A.M. Best Company.

    The Catlin Group also operates subsidiaries located in the Houston and New
    Orleans in the US, as well as in the UK, Canada, Germany, Belgium, 
    Singapore, Malaysia and Australia. These subsidiaries allow Catlin to work 
    more closely with local clients and their brokers.

3.  The Catlin Group's website can be found at www.catlin.com.



                      This information is provided by RNS
            The company news service from the London Stock Exchange