Catlin Group Ltd. in Bermuda announced that losses from recent hurricanes will total $200 million, it has lost $118 million on fixed income investments, and its holdings in bankrupt Lehman Brothers totaled $11 million.

Stephen Catlin, chief executive officer of the firm, said the unparalleled financial events of this year will prove to be a market-turning experience and he believes ratings will begin to improve as capital leaves the insurance marketplace.

"The unprecedented events of this year, including the instability in international financial markets, have presented the group with both challenges and opportunities," said the CEO of the Bermuda-based international specialty property-casualty insurer and reinsurer.

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