A.M. Best Comments on Ratings of Catlin Group Limited and Its Subsidiaries

Business Wire, Feb 13, 2009

OLDWICK, N.J. -- A.M. Best Co. has commented that the ratings of Catlin Group Limited (Catlin) (Bermuda) and its subsidiaries remain unchanged following the publication of the group's full year 2008 results.

A.M. Best believes that Catlin's consolidated risk-adjusted capitalisation will remain strong, despite a significant reduction in shareholders' equity at year-end 2008 largely driven by currency translation losses. Capitalisation in 2009 will be supported by Catlin's decision to proceed with a fully underwritten rights issue, subject to shareholders approval.

Catlin's overall loss before tax of nearly USD 13 million falls within A.M. Best's expectations, taking into account the impact of catastrophes on underwriting experience and poor trading conditions in investment markets.

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.> The principal methodologies used in determining these ratings, including any additional methodologies and factors, which may have been considered, can be found at www.ambest.com/ratings/methodology.> Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.