Markel CATCo Investment Management

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CATCo retro fund returns 4.3% for 2019 underwriting year

For its 2019 underwriting year investments, the retrocession focussed CATCo Reinsurance Opportunities Fund Ltd. managed a 4.3% return, according to its annual report.The exchange listed Markel CATCo Investment Management retrocessional reinsurance investment fund strategy is of course in run-off, as the other Markel CATCo strategies are. But the investments made read the full article →

CATCo fund directors “will not raise further capital in any circumstances”

The directors of the listed and in run-off retrocessional reinsurance focused investment strategy, the CATCo Reinsurance Opportunities Fund Ltd., have confirmed that they won't look to raise further capital "in any circumstances".The announcement confirms the strategy to run-off and shutter all of the Markel CATCo Investment Management retrocessional reinsurance investment read the full article →

Markel CATCo proposes compulsory buy-backs of listed retro fund shares

Retrocessional reinsurance investment manager Markel CATCo is proposing to make compulsory redemptions or buy-backs of some of the remaining shares of its listed and in run-off investment strategy the CATCo Reinsurance Opportunities Fund Ltd.Markel CATCo Investment Management has been managing the run-off of its retrocessional reinsurance fund strategy over recent read the full article →

Markel begins fronting insurance business for Nephila Capital

Markel Corporations relationship with its market-leading insurance-linked securities (ILS) fund manager Nephila Capital has deepened in recent months, as its insurance business began acting as a distributor for Nephila's capital, ceding catastrophe exposed insurance business to the manager.Markel acquired the largest manager of catastrophe and weather insurance and reinsurance linked read the full article →

Nephila drives Markel’s ILS operating revenues to $225.6m in 2019

Markel Corporation's operating revenues from its insurance-linked securities (ILS) businesses were up by 74% in the fourth-quarter of 2019, while the full-year saw ILS operating revenues hit $225.6 million, thanks to the contribution from Nephila Capital.Having acquired Nephila Capital in the fourth quarter of 2018, Markel Corporation had not yet read the full article →

Bushfires trap Markel CATCo retro fund capital as Irma creeps again

The Australian bushfire disaster has caused some capital to be trapped within the listed retrocessional reinsurance investment fund strategy operated by Markel CATCo, while continued loss creep from hurricane Irma also hit exposed positions at the end of 2019.The 2019 portfolio of stock exchange listed and in run-off retrocessional reinsurance read the full article →

Investors circle CATCo shares on increases & potential subrogation benefit

Investors are circling shares in retrocessional reinsurance investment manager Markel CATCo's listed insurance-linked securities (ILS) fund, partly due to share price increases experienced in recent weeks, but also over the potential for subrogation to benefit any holdings they have.Evidencing this, one value investor, Almitas Capital LLC based in California, has read the full article →

Markel CATCo listed retro fund adds new director

Markel CATCo Investment Management has added a new director to its stock exchange listed and in run-off retrocessional reinsurance focused investment strategy, the CATCo Reinsurance Opportunities Fund Ltd.The Board of the retro reinsurance fund announced that they have appointed Arthur Jones as a non-executive Director effective yesterday. Jones will also read the full article →

Nephila taking disciplined approach to value creation: Markel’s Richie Whitt

Nephila Capital is taking a "disciplined approach to long-term value creation" according to Markel Co-CEO Richie Whitt, who said that the flagship insurance-linked securities (ILS) unit of the carrier remains on target for the year.At the same time, Whitt has highlighted the important role Markel's program fronting subsidiary State National read the full article →

CATCo sees 25% Hagibis, Faxai & Dorian hit to 2019 capital deployed

Retrocessional reinsurance focused investment manager Markel CATCo Investment Management expects that the combined impacts of recent catastrophe events typhoon Hagibis, typhoon Faxai and hurricane Dorian will result in a roughly 25% impact to capital deployed in the 2019 portfolio of its listed fund.Markel CATCo has today revealed its potential exposure read the full article →