JDC TECHNICAL EVALUATION REPORT

Subject: Catalina Run Off Synd (01802974) – Group  (36720)

Entity: Catalina Worthing Insurance Limited (CWIL) (05965916)

Administration Entity: Catalina Services UK  

Reference UID: 6038 & 6038.1

Market Authority: London & International Markets

Case Ref: 00077C011A01

Date: 9th March 2026 & Updated 30th March 2026

Headline: Consolidation of Bermuda and UK Entities Completed

  1. Legal Successor Structure
  • Transferee Entity: Catalina Worthing Insurance Limited (CWIL).
  • Company Registration: 05965916 (Registered office: Downlands Business Park, Worthing).
  • Historical DNA: CWIL is the successor to the very “Excess Insurance Company” books you managed, which were transferred into this vehicle in 2015.
  1. Portfolio Composition
  • Liability Type: Legacy UK Employers’ Liability (EL).
  • Policy Trigger: Strictly pre-2007 policies issued by Zurich’s UK branch.
  • Financial Scale: Approximately $2 billion in gross liabilities. This encompasses not only the Zurich EL book but also the recently consolidated AGF Insurance and Catalina London portfolios.
  1. Operational Milestones
  • Sanction Hearing: Expected 25th March 2026 at the High Court of England and Wales.
  • Effective Date: 31st March 2026.
  • Administration: Claims are already being handled by Catalina’s UK service company (since 2022), so the transfer is primarily a “legal landing” of the capital.

       Supplementary Tier 5 Data: UID 6038.1

    • Cross-Border Jurisdictional Anchors:

      • Jersey Representation: While the High Court of England and Wales is the primary venue, the “Movement” also required a specific Sanction Order from the Royal Court of Jersey (received 27 March 2026) to address policies written in that jurisdiction. 

      • Bermuda Regulatory Nexus: The involvement of Catalina Holdings (Bermuda) Ltd (Co. No. 36720) acts as the ultimate parental guarantee and capital backstop for the UK-regulated transferee.  

    • Historical Continuity (The “Excess” Connection):

      • Legacy DNA: A critical detail for the archive is that Catalina Worthing Insurance Limited (05965916) serves as the direct successor to the Excess Insurance Company portfolios.  

      • Historical Scale: This entity now manages approximately $2 billion in gross liabilities, a figure that has grown significantly through the recent absorption of the AGF Insurance and Catalina London books.  

    • Portfolio Specifics & Policy Triggers:

      • Liability Scope: The transfer is strictly limited to pre-2007 Employers’ Liability (EL) policies issued by Zurich’s UK branch.  

      • Operational Status: Claims administration remains stable; Catalina Services UK has been managing these files since 2022, meaning the March 31st effective date is purely a formal transfer of legal liability.