Retirement’s brewing for insurer XL Catlin 'statesman' Stephen Catlin

The Lloyd's of London building where XL Catlin underwrites risk

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Michael Bow5 April 2017

He started out making cuppas for insurance executives in the Seventies but now Lloyd’s of London “statesman” Stephen Catlin will have more time for brews of his own after announcing his retirement on Wednesday.

Catlin, who worked his way up from teaboy to founder of the Lloyd’s underwriter bearing his name, will step down as XL Catlin’s deputy executive chairman and retire in December.

Catlin founded the eponymous underwriter in 1984, later selling the company to US rival XL Group in 2015 for £2.6 billion to form XL Catlin.

“It is an appropriate time for me to take the opportunity to step back from an active leadership role within the company,” Catlin said.

He had recently been linked the Lloyd’s of London chairman role, which went to former banker Bruce Carnegie-Brown. XL chief executive Mike McGavick said: “Stephen is an original and a true statesman of our industry.”

Catlin will remain a consultant at XL Catlin for nine months after his retirement.