plans to make an initial public offering of an unspecified number of its common shares by its shareholders.

Such shares will be registered under the Securities Act 1933, as amended, and the offering will be made by means of a prospectus.

The timing of the offering is subject to market conditions, regulatory approvals and certain other factors.

CAT Ltd. specialises in providing traditional and customised excess-of-loss reinsurance products. For the year ended December 31, the company's net premiums written were about $136 million, net income was some $106 million and, at year end, total shareholders' equity amounted to some $540 million.