Reinsurance and retrocession linked investment management specialist Markel CATCo Investment Management Ltd. has announced this morning that its Chief Executive Officer Tony Belisle is to extend his contract with the firm.
Belisle will now stay with Markel CATCo, the reinsurance-linked investments management arm of global re/insurer and financial specialist Markel Corporation, until the end of 2020 at least, with his contract being extended to 31st December of that year after which it will continue indefinitely on a rolling annual basis.
Tony Belisle was the founder of CATCo Investment Management Ltd. back in 2010 and behind the launch of the firm’s “pillared” underwriting product, which was a unique approach to writing collateralised reinsurance coverage.
Belisle’s current contract had been due to expire as of the end of 2018, so by announcing the extension early Markel CATCo can give certainty to its clients and investors that continuity of the important CEO role will be maintained.
Markel CATCo now employs more than 20 individuals and since the ILS manager was sold to Markel Corporation in December 2015 it has grown its assets under management significantly to approximately $4.5 billion. The company has become one of the leading providers of retrocession in the market since its launch.
Tony Belisle, CEO of Markel CATCo Investment Management Ltd., commented on the news; “I have strong confidence in the team in place at Markel CATCo, which has clearly demonstrated its ability to be successful in the current market. I am proud of what we have achieved to date and am excited about the further opportunities that lie ahead for the Company.”
Richie Whitt, Co-Chief Executive Officer of Markel Corporation, added; “Markel CATCo has been a great addition to the Markel family of companies. We are committed to the ILS space, growing our presence in Bermuda, helping Markel CATCo expand their product and talent portfolios, and supporting Tony and his team as they continue to deliver for the investors in the CATCo managed funds and for Markel’s shareholders.”
Under Belisle’s tenure, Markel CATCo has put together a strong team of experienced reinsurance industry professionals, and an impressive executive management team. The team has day-to-day responsibility for managing the investment manager. The executive team will continue to leverage Belisle’s experience and expertise as Markel CATCo continues to develop its business.
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