trading web site, CATEX, which has offices in Bermuda, has been named by Forbes as being among "The Best of The Web'', writes Mairi Mallon .

The magazine named the company as being one of the year's top business to business websites.

Forbes.com's first annual Best of the Web picked 200 of the "most important and promising'' companies in 25 major industries.

CATEX was included among a handful of companies selected in the Financial Services category.

Forbes.com judged each B2B company based on its strategy, its execution, its financial staying power and its website.

Other named companies include Bloomberg, VerticalNet, Oracle, Enron Online, and Sabre. The complete list can be found at www.forbesbest.com /b2b.

"We are very pleased to be recognised by Forbes,'' said Frank Fortunato, chief executive officer of CATEX. "We are gratified with the continued support of our subscribers who have been willing to embrace the development of a neutral, horizontal trading platform for the global reinsurance and commercial insurance industry.'' CATEX is currently working with its subscribers and strategic partners to add premium and loss clearing services for transactions concluded on its Web-enabled trading system.

CATEX has over 170 subscribers trading from company facilities in over 80 cities throughout the world. CATEX recently announced its 500th online transaction totaling over $3 billion of reinsurance coverage and over $400 million of cash premium.

FORBES NJ