No Change in XL Offer Says Catlin

A spokesperson at Catlin Group Limited’s London office said that the “possible offer” to purchase Catlin made by XL Group, as announced on December 17, was still ongoing, and that no final agreement has yet been reached.

The only statement Catlin has made “still stands,” he said. This indicates that the reports, in the Sunday Times and elsewhere, that a definitive agreement has been concluded, are premature, and that it could be several weeks before a further announcement is made.

The source also contradicted reports that Founder and CEO Stephen Catlin is planning to retire.