SOURCE: Wellington Underwriting PLC

August 29, 2006 02:01 ET

Wellington Underwriting PLC announces Wellington Expands in the USA

London -- (MARKET WIRE) -- August 29, 2006 --


29 August 2006





                          Wellington Underwriting plc

 Wellington expands its US Platform with launch of Marine Reinsurance Business



Wellington Underwriting Inc. ("WU Inc."), the wholly owned US underwriting
agency of Wellington Underwriting plc ("Wellington"), today announces the launch
of its marine reinsurance business, building on its well established
distribution capabilities and underwriting expertise in North America.



WU Inc. Marine Reinsurance, based in New Jersey, will underwrite treaty
reinsurance introduced through intermediaries on behalf of Wellington Syndicate
2020.  Underwriting is expected to commence in September 2006 and gross premiums
written are estimated to reach US$30 million in 2007.



WU Inc., established in 1999, underwrites property and casualty reinsurance
business to US clients and brokers on behalf of Syndicate 2020 at Lloyd's.  It
has grown from less then $11 million of gross premium in 1999 and will write
approximately $230 million in 2006 with over 80 employees across nine branch
offices throughout the United States.



WU Inc. Marine Reinsurance will be led by Joseph Belardinelli who has over 17
years of experience in marine insurance and reinsurance, most recently as Senior
Vice President of Quanta Capital Holdings.  Prior to this, Mr. Belardinelli held
senior positions at Swiss Reinsurance America Corporation, Willcox Incorporated
and Johnson & Higgins.



Stan Kott, CEO of WU Inc., commented: "We are very excited about the launch of
the marine reinsurance team.  While leveraging our existing expertise and client
relationships within the Group, it will provide Wellington with a broader US
product offering, increased capacity and a team possessing significant
expertise.  Joseph Belardinelli has an excellent reputation and is well known
and respected by clients and brokers alike."



"The US marine reinsurance market represents a great opportunity for Wellington
and is a natural extension of our existing product offering in the US.  We will
benefit both from the future strong market outlook across all classes of
business and the considerable demand from insurers seeking protection products
from reinsurers with strong financial strength ratings.  We are confident that
Joseph's wealth of experience, coupled with the Wellington brand, will provide a
very attractive opportunity for further growth."



Joseph Belardinelli added: "I am very pleased to be joining Wellington and the
marine reinsurance team at WU Inc.  Wellington has a first-rate track record and
I look forward to contributing to its future profitable growth."



For further information:

Wellington Underwriting Inc.
Stan Kott, WUI CEO                    +1 860 702 2920

Wellington Underwriting plc
Preben Prebensen, CEO                 +44 20 7944 0286

Financial Dynamics, USA
Charlie Armitstead                    +1 212 850 5691

Financial Dynamics, UK
Rob Bailhache                         +44 20 7269 7200





Notes to editors:



-         Wellington Underwriting plc ("Wellington") is an international
insurance and reinsurance group with offices in the UK, the United States and
Europe.  It is listed on the London Stock Exchange under the ticker WUN.L.




-         Wellington owns Wellington Underwriting Agencies Limited ("WUAL") in
the UK, which is authorised and regulated by the Financial Services Authority to
manage Syndicate 2020 at Lloyd's, and Wellington Underwriting Inc. ("WUI Inc.")
and Wellington Specialty Insurance Company ("WSIC") in the USA.



-         WU Inc. acts as a reinsurance intermediary and underwriting manager,
originating business on behalf of Wellington Syndicate 2020 ("Syndicate 2020")
at Lloyd's.  WU Inc is licensed as a reinsurance intermediary manager in all
applicable US jurisdictions.  WU Inc is a wholly owned subsidiary of Wellington
Underwriting Holdings Inc., the US holding company for Wellington's US
operations.



-         WU Inc. underwrites Accident and Health as well as Property and
Casualty reinsurance business.



-         Syndicate 2020 is one of the leading syndicates participating in the
Lloyd's market.  Wellington owns 67% of Syndicate 2020, which benefits from the
Lloyd's market ratings of A (Excellent) by A.M. Best and A (Strong) by Standard
& Poor's.



-         The Wellington website www.wellington.co.uk and media centre
www.wellington.co.uk/wellington_underwriting_plc/media_centre/ contain images,
company and product information and a news release archive.










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