Xchanging and Lloyd's Veteran Martin Robinson Joins CATEX

PRINCETON, NJ and LONDON--(Marketwired - Jun 5, 2013) - The Catastrophe Risk Exchange, Inc. (CATEX) has hired Martin Robinson, formerly of Xchanging, as Managing Director for CATEX Europe and he will be based in CATEX's London Office.

Mr. Robinson was with Xchanging for ten years where he was responsible for a diverse range of management activities, including various project and program processes including in respect of business processing outsourcing; Xchanging's roll-out to brokers of accounting and settlement arrangements, and the Xchanging's Recovery Marketplace.

Previously, he had been with IT Direct at Lloyd's for six years as a commercial manager and 21 years at Lloyd's of London in a variety of capacities, including managing the design and installation of the insurance and IT systems for a Lloyd's overseas office, as manager of Lloyd's Non Marine Policy Department, gaining extensive experience relating to the processing of Lloyd's insurance documentation as well as experience with Lloyd's policies and insurance accounting procedures.

"Martin joins us at a very exciting time. We are releasing a new product that enables syndicates and carriers automatically to handle disparate data sources and formats and convert them into structured data for export," said Frank Fortunato, CEO of CATEX. "I have known Martin for 17 years and his London market experience and depth of knowledge are a huge boost to CATEX," said Mr. Fortunato.

"I am looking forward to working with CATEX and its current London Office team to bring to bear my expertise and contacts within the Lloyd's and London insurance market," said Mr. Robinson.

Mr. Robinson commenced work at CATEX last month.

About CATEX:

The Catastrophe Risk Exchange, Inc (CATEX) www.catex.com is a leading developer of web based insurance and reinsurance software. CATEX provides software as a service to brokers, agencies and reinsurers to manage all of their Treaty, facultative and commercial insurance needs. CATEX's flagship product, Pivot Point, is a Microsoft .NET based solution that provides placement and contract management, fiduciary accounting and ledger control, claims management, multi-currency settlements, bordereau processing, document management and comprehensive MI reporting functionalities. Pivot Point is currently deployed in 20 different countries in 6 languages. Currently over $4 billion in premiums and claims is processed on CATEX developed software. CATEX has been operating the CATEX Global Exchange since 1994 and is licensed by the New York Insurance Department as a reinsurance intermediary that acts in a neutral capacity. CATEX also provides daily reinsurance news updates for those wishing to keep up-to-date with events affecting the insurance and reinsurance industry via its CATEX TV service at http://www.catextv.com.