Stephen Catlin, chief executive of Bermuda-based Catlin Group Ltd, is one of 51 business leaders from countries around the world participating in the 12th annual World Entrepreneur of the Year competition.The competition, which is sponsored by Ernst & Young, is being held later this week in Monte Carlo.The 51 finalists of the World Entrepreneur of the Year have won the Entrepreneur of the Year Award in their home countries.The entrepreneurs participating in the event include, Reid Hoffman and Jeff Winer of the United States, chairman and CEO of social network LinkedIn; Anders Lonner, CEO of Swedish pharmaceutical maker Meda A.B.; Alessandro Benetton of Italy, chairman of Benetton Group S.p.A.; and Mikael Hed of Finland, founder of Rovio Entertainment Ltd., the developer of the Angry Birds mobile phone games.Stephen Catlin was named 2011 Entrepreneur of the Year in the United Kingdom in October. Besides being named UK Entrepreneur of the Year, Stephen also received a separate award in the ‘Master’ category of the competition. The Master Award recognises entrepreneurs for their long-term achievements.Stephen Catlin is the founder of Catlin Group Ltd, a specialty property/casualty re/insurer, and has been the Group’s sole chief executive throughout its 27-year history. The independent judges of the UK Entrepreneur of the Year competition remarked that Mr Catlin’s drive and vision helped put the Catlin Group in a “premier position in a sector where the UK continues to lead the world”.According to the company, the judges praised Mr Catlin’s vision for helping the company grow organically and globally through nurturing expert talent.The World Entrepreneur of the Year Award programme was created by Ernst & Young to honour the contributions of successful entrepreneurs and serves to:— Identify entrepreneurial role models for the next generation of business leaders— Inspire today’s successful entrepreneurs to reach even greater heights— Foster new entrepreneurial activity and economic growth in participating countriesOn June 9, Mr Catlin and the other Entrepreneur of the Year country winners will be recognised for their entrepreneurial achievements and inducted into the World Entrepreneur of the Year Hall of Fame. Following the induction ceremony, one winner will be announced as the 2012 World Entrepreneur of the Year.Stuart Watson, the UK leader of the Entrepreneur of the Year Awards, said: “Stephen won the UK Entrepreneur of the Year Award as recognition for the power of a truly entrepreneurial spirit. He won business around the world, even from within such a traditional sector as the commercial risks insurance market.“The Catlin Group is an object lesson to entrepreneurs as the company continues to compete around the world, at a time when the UK economy needs think globally to grow. Stephen has expanded in both the mature markets and the increasingly important fast growth economies such as those in Asia and South America.”