material benefits for both companies and their shareholders, as well as to clients and brokers.

?We are now ready to take advantage of the opportunities that the acquisition presents to us. We have done much work since the offer was announced to plan the integration of the two businesses. As a result of that work, we will consolidate our underwriting teams in London this week, and integration planning for other parts of the business is progressing well.?

Catlin offered to take over Wellington in November, thus bringing two of the largest Lloyd?s underwriters under one roof.

Catlin, which moved to Bermuda earlier this tear and also has a Bermuda operating subsidiary, is part of a wave of Lloyd?s underwriters that have moved to Bermuda or set up operations here.

Others include Hiscox, which has just completed redomiciling on the Island and set up a Bermuda subsidiary after the record 2005 hurricane season, Omega, which is in the process of redomiciling, Amlin, which formed a Bermuda subsidiary in late 2005, and Advent and Brit Insurance, which are now setting up Class 3 retrocessional underwriters.