A.M. Best Places Ratings of Catlin Insurance Company Limited, Catlin Group Limited and Catlin Insurance Company (UK) Ltd Under Review.

OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating (FSR) of A (Excellent) and issuer credit rating (ICR) of "a" of Catlin Insurance Company Limited (CICL) (Bermuda) under review with negative implications. Concurrently, A.M. Best has placed the ICR of "bbb" of Catlin Group Limited (Catlin) (Bermuda) and the FSR of A (Excellent) and ICR of "a" of Catlin Insurance Company (UK) Ltd under review with negative implications. The Best's Syndicate Rating of A (Excellent) and ICR of "a" of Lloyd's Syndicate 2003 (United Kingdom) are at the same level as Lloyd's of London and, accordingly, are unaffected by this rating action.

The ratings have been placed under review due to A.M. Best's concerns relating to the level of Catlin's consolidated catastrophe exposure and the likely future impact of major events on risk-adjusted capitalisation. As part of the financial strength rating evaluation process, A.M. Best intends to assess the benefit, if any, to CICL of its proposed catastrophe swap agreement.

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.