£20m for boss as Catlin floats

By STEVE HAWKES
Updated: 00:00 BST, 3 March 2004

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CATLIN Group will become the largest Lloyd's of London 保険会社 on the 株式市場 when it floats next month in a £700m 名簿（に載せる）／表（にあげる）ing that 逮捕するs 創立者 Stephen Catlin an 概算の £20m paper fortune.

The 20-year-old 商売／仕事 確認するd its 意向 to float today and said it would look to raise around £105m through the sale of new 株. 投機・賭ける 資本／首都 支援者s will sell the same 量.

Pricing will be 始める，決める in 中央の -March, with the 株 推定する／予想するd to begin 貿易（する）ing in the first week of April. Goldman Sachs, UBS and JP Morgan are on board as 助言者s.

Catlin, who will remain with the group as 長，指導者 (n)役員／(a)執行力のある, said: 'The 決定／判定勝ち（する） to 捜し出す a 名簿（に載せる）／表（にあげる）ing on the London 在庫／株 交流 is another milestone in the 進化 of the group.

'We believe that we are distinctively positioned to take advantage of profitable 適切な時期s in the 全世界の 所有物／資産／財産, 死傷者 保険 and reinsurance markets.'

Catlin's 管理／経営 and staff own an 6% 火刑／賭ける in the 商売／仕事. 公正，普通株主権 支援者s 含む JP Morgan, The Cypress Group, Centre Partners 管理／経営 and Charlesbank 資本／首都.

分析家s have long 推定する／予想するd Catlin to float and believed it would wait until the 現在の Lloyd's 報告（する）／憶測ing season, which is likely to see a stream of 記録，記録的な／記録する company 利益（をあげる）s, draws to a の近くに.

Catlin last year wrote $1.2bn (£631m) of 甚だしい／１２ダース 賞与金s across its Lloyd's and Bermuda-based 操作／手術s, up 66%.

Underlying 利益（をあげる）s （機の）カム in at $146.3m against losses of $28.3m in 2002.