LONDON (Reuters) Bermuda-based insurer Catlin Group Ltd reported a smaller than expected drop in full-year profit after a strong underwriting performance helped it absorb $218 million in natural disaster claims.Pretax profit fell a third to $406 million compared with $373 million forecast by analysts, according to the company’s calculation of consensus expectations.Catlin shares were up 2.2 percent at 394.3 pence by 0925 GMT, making it the second-biggest riser in the FTSE 250 share index and outperforming the STOXX Europe 600 insurance index, which was 1.6 percent lower.“The numbers are pretty good, about ten percent ahead of what I was looking for, even with all the losses they have had,” said analyst Joy Ferneyhough at brokerage Execution Noble.For full story, see tomorrow’s Royal Gazette