Catlin says less business lost after merger than expectedPosted On: Jan. 12, 2007 12:00 AM CST
HAMILTON, BermudaCatlin Group Ltd. said that its integration of Wellington Underwriting P.L.C. continues to go to plan and that the combined group retained more business at the January 1, 2007 renewals than previously expected.
Catlin merged with London-based Wellington late last year.
Bermuda-based Catlin said it had expected to lose a substantial amount of the business previously underwritten by Wellington.
But it announced Friday that "the amount of business actually lost was significantly lower than originally contemplated."
In addition, Catlin said that as well as planned layoffs as a result of the merger, there had been less than 10 unplanned departures "out of a total of more than 900 employees.