Catlin Group Limited
Specialty-lines Commercial Insurer/Reinsurer
In July 2002, CZFS led a $482 million investment in Catlin Group Limited (LSE: CGL), a Bermuda-based specialty lines commercial insurer and reinsurer. Catlin is a leading Lloyd's managing agency and syndicate which has been operating since 1986 and writes a book of property, liability, marine and energy risks on both a direct and reinsured basis. The global property and casualty business is experiencing significant rate increases across many lines of business due to capacity shortfalls in the industry caused by years of inadequate pricing, increased frequency and severity of catastrophe claims and lingering balance sheet issues. Catlin is well-positioned to benefit from the current cycle turn due to its strong management team, established franchise, large and profitable existing book of business and proven track record of disciplined underwriting. Catlin's Lloyd's franchise enables the Company to enjoy the unique benefits of the Lloyd's market, which include significant financial leverage, an extensive distribution network and unique global licenses.
