NU Online News Service, Nov. 12, 3:10 a.m. EDT

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Hamilton, Bermuda-based Catlin Group Limited, an internationalspecialty property and casualty insurer and reinsurer, reported a13 percent increase in net premiums earned for the first ninemonths of 2010 compared to 2009.

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The company said about half of the increase is attributable toincreases in premium volume and higher rates relating to businesswritten in 2009 but not earned until 2010. The remainder isattributable to the embedded growth arising from the 2006acquisition of Wellington Underwriting plc., the company said.

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Gross premiums written for the 2010 third quarter were $3.2billion, up 9 percent from $3.0 billion in 2009.

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Stephen Catlin, chief executive of Catlin Group Limited, said ina statement: "I am pleased to report that all areas of the CatlinGroup performed well during the third quarter. Our Bermuda, U.S.and International underwriting hubs continue to report meaningfuland profitable premium growth, with the non-London hubs nowaccounting for 43 percent of the group's total gross premiumswritten."

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He added that while there have been a large number of Atlanticstorms during the current hurricane season, "so far the group hasincurred no losses from these events, and overall loss activity wasbenign in the third quarter. Our estimate of the two major lossesthat occurred earlier this year--the Chilean earthquake and the Deepwater Horizon oil rig explosion--has not changed during thethird quarter."

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Mr. Catlin noted that while the rating environment ischallenging, "we believe there are still good margins available formany classes of business."

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A Catlin spokesperson said Catlin does not disclose the combinedratio in quarterly interim management statements. "In the U.K.,most insurers only disclose full underwriting information(including the combined ratio) at the end of the first half and thefull year," he said in an e-mail.

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