Board changes at Markel CATCo reinsurance funds

by Artemis on March 2, 2017

Reinsurance and retrocession linked investment manager Markel CATCo Investment Management has announced some changes to its Boards, with Nigel Barton set to become Chairman of its main investment fund and segregated accounts vehicle.

Nigel Barton had been the Chairman and non-executive director of Markel CATCo’s flagship London and Bermuda-listed retrocessional reinsurance investment fund, the CATCo Reinsurance Opportunities Fund, but is now set to resign from that role as of the company’s Annual General Meeting on 6th April 2017.

Nigel Barton, ex-founder and CEO of the London-based specialist insurance broking business Oxygen Holdings plc, joined the CATCo fund as Chairman and non-exec in 2012 and has been part of the fund’s growth over recent years.

After his resignation and stepping down from the CATCo Reinsurance Opportunities Fund, Markel CATCo is set to appoint Barton to Chairman of the Markel CATCo Reinsurance Fund Ltd., which is the ILS investment managers segregated accounts vehicle.

This will position Barton with an oversight role above the majority of the investment strategies managed by Markel CATCo. For example, the CATCo Reinsurance Opportunities Fund conducts the majority of its investment activities through the Markel CATCo Diversified Fund (the “Markel CATCo Master Fund”), a segregated account of Markel CATCo Reinsurance Fund Ltd. (the “Markel CATCo SAC”).

Replacing Barton, Markel CATCo is appointing James Keyes as Chairman of the CATCo Reinsurance Opportunities Fund.

Keyes is already familiar with Markel CATCo’s strategies, being a non-executive Director of the Fund already, and chair of the Management Engagement Committee.

Replacing Keyes as Chair of the Management Engagement Committee will be Margaret Gadow, who is currently a non-executive Director of the CATCo Reinsurance Opportunities Fund, with effect from 6th April 2017.

The Board of the CATCo Reinsurance Opportunities Fund intends to appoint a further director in order to maintain the number at four. A further announcement will be made once that appointment has been arranged.

Also read:

Markel reports $56.5m of Markel CATCo revenue in 2016.

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