Catlin Group, the Bermudan-based specialty insurer and reinsurer has added to the pipeline of initial public offerings from the sector by appointing Goldman Sachs, JP Morgan and UBS for its flotation.

JP Morgan Chase has a long relationship with Catlin as JP Morgan Corsair II Capital Partners, one of its private equity funds is a shareholder in the insurer. It participated in a $482m (€403m) equity capital raising in the second half of 2002 alongside the Cypress Group and Capital Z Financial Services Fund. JP Morgan was the placement agent for the deal and acted as financial adviser with Lehman Brothers.