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catlin 2011 interim financial results

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 4 August 2011 Release 2011-14 FOR IMMEDIATE RELEASE CATLIN GROUP LIMITED ANNOUNCES FINANCIAL RESULTS FOR SIX MONTHS ENDED 30 JUNE 2011 HAMILTON, Bermuda – Catlin Group Limited (‘CGL’: London Stock Exchange), the international specialty property/casualty insurer and reinsurer, announces its financial results for the six-month period ended 30 June 2011. Financial Highlights • US$534 million in losses from catastrophe events during the period, net of reinsurance and reinstatement premiums (30 June 2010: US$135 million) • Negative net underwriting contribution 1 of US$91 million (30 June 2010: US$227 million net underwriting contribution) • 50 per cent attritional loss ratio (30 June 2010: 51 per cent) • 9 per cent increase in gross premiums written to US$2.7 billion (30 June 2010: US$2.5 billion); 4 per cent decrease for London/UK underwriting hub, 26 per cent aggregate increase for all other hubs • 12 per cent increase in net premiums earned to US$1.8 billion (30 June 2010: US$1.6 billion) • Prior year loss reserves stable (30 June 2010: US$29 million release) • 117 per cent combined ratio; 32 percentage points relate to catastrophe losses (30 June 2010: 98 per cent combined ratio; 9 percentage points related to catastrophe losses) • US$201 million loss before tax (30 June 2010: US$86 million profit) • 9.8 per cent negative return on net tangible assets for period (30 June 2010: 2.8 per cent return on net tangible assets) • 7.7 per cent negative return on equity for period (30 June 2010: 2.1 per cent return on equity) • 1.5 per cent total investment return for period (30 June 2010: 1.8 per cent) • 5 per cent increase in interim dividend to 9.0 pence per share (30 June 2010: 8.6 pence) Operational Highlights • 50 per cent of gross premiums written by non-London/UK underwriting hubs (30 June 2010: 43 per cent) • 1 per cent increase in average weighted premium rates across portfolio during period (30 June 2010: nil per cent); significant increases in catastrophe reinsurance pricing at 1 June and 1 July renewals • Successful start-up by Catlin Re Switzerland produces significant volume of new business for Group • 32 per cent expense ratio (30 June 2010: 33 per cent)  • Catastrophe losses during second half or deterioration in previous 2011 catastrophe estimates likely to trigger Catastrophe Aggregate reinsurance protection   _____________________________________________________ 1 Net underwriting contribution is defined as net premiums earned less losses and loss expenses and policy acquisition costs.  Continued on next page 

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