Best Comments on Catlin Group's IPO

March 4, 2004

A.M. Best Co. has issued a comment acknowledging the announcement by the Bermuda-based Catlin Group Limited (CGL) of its intention to proceed with an initial public offering of common shares and admission to the London Stock Exchange.

Best said it "is awaiting full details of the offering. Following completion of discussions about these details with senior management at CGL." Best indicated it "assess the impact on the ratings of Catlin Insurance Company Limited (Bermuda) (currently rated A [Excellent] with a stable outlook) and Lloyd's Syndicate 2003 (currently rated A [Excellent] with a stable outlook), which is managed by Catlin Underwriting Agencies Limited."