RMS Performs Analysis For U.S. Earthquake And Hurricane Risk Securitization

$225 million series issued for coverage against U.S. earthquake and U.S. hurricane losses

Newark, Calif., Dec 20, 2007 — Risk Management Solutions (RMS), the world’s leading provider of products and services for catastrophe risk management, has performed the risk analysis for an industry index securitization of earthquake and hurricane risk in the U.S. Issued by Newton Re Ltd., a Cayman Islands special purpose vehicle (SPV), the securities provide $225 million of three-year, collateralized cover for Catlin Insurance Company Ltd. The Class A notes provide $87.5 million of protection for U.S. earthquake risk and the Class B notes give $137.5 million of cover for U.S. hurricane risk.

“This transaction demonstrates the continuing desire among insurers and the capital markets to place insurance risk using straightforward, transparent solutions,” said Peter Nakada, managing director of RMS Consulting. He added: “Looking forward to 2008, we expect to facilitate higher volumes of risk transfer using established parametric solutions.”