Markel CATCo Investment Management

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Nephila costs elevated on MGA platform build & new fund launches: Whitt

Nephila Capital is experiencing elevated costs as the insurance and reinsurance linked investment manager builds-out and grows its managing general agency (MGA) platforms and readies for the launch of new ILS fund vehicles, Markel Co-CEO Richie Whitt has explained. As we explained yesterday, Nephila Capital's assets under management (AuM) fell slightly read the full article →

ILS operating revenues fall at Markel as Nephila AuM slides to $9.5bn

Assets under management (AuM) at the largest dedicated insurance-linked securities (ILS) specialist manager Nephila Capital fell slightly to $9.5 billion at the end of the first-quarter, with the reduced assets also a driver of lower ILS operating revenues at Markel Corporation. Nephila Capital's assets under management across catastrophe bonds, insurance-linked securities read the full article →

CATCo retro fund benefits from further $19.2m trapped capital release

The CATCo Reinsurance Opportunities Fund Ltd., the stock exchange listed retrocession focused strategy managed by Markel CATCo and in run-off at this time, is continuing to benefit from reducing loss exposure and releases of side pocketed investment capital. As we've previously explained, the running-off and return of capital of the CATCo read the full article →

CATCo’s return of capital continues apace, but Jebi & Michael creep hits 2018

The CATCo Reinsurance Opportunities Fund Ltd., the stock exchange listed retrocession focused strategy managed by Markel CATCo and in run-off at this time, has now seen $271.3 million of capital returned to its investors since its run-off began. The $271.3 million of capital has been returned to shareholders in the CATCo read the full article →

Nephila attracts $1bn+ inflows, launches ESG & Lloyd’s ILS fund strategies

Nephila Capital, the largest dedicated manager of insurance and reinsurance linked investment funds and assets, is expected to benefit from growing investor interest in the sector, with inflows of more than $1 billion anticipated in 2021, according to Markel Corporation executives. Having returned to growth, in terms of assets under management, read the full article →

Nephila AuM returns to growth as ILS profits rise for Markel in Q4

The operations of the largest dedicated insurance-linked securities (ILS) fund manager, Nephila Capital, delivered higher revenues to parent Markel Corporation in 2020, thanks to expansion and growth of its managing general agent (MGA) platform and a return to growth in assets under management (AuM), which hit $9.6 billion. In reporting its read the full article →

CATCo retro fund rises 7% on reduced 2017 wildfire claims (subrogation?)

Some shareholders in the CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Investment Management’s listed retrocession focused investment fund, have benefited from a reduction in claims related to California's 2017 wildfires, perhaps suggesting a subrogation recovery has made its way through to the portfolio. The in-run off retrocessional reinsurance focused investment fund's read the full article →

CATCo successful in releasing another $8m of capital from side pockets

The CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Investment Management’s listed retrocession focused investment fund, has successfully secured another release of trapped capital which will be returned to its investors. The Markel CATCo managed retrocessional insurance-linked securities (ILS) fund has been successfully unlocking trapped capital that had been set aside for read the full article →

Markel’s ILS revenues fall on lower fee income at Nephila

Evidence of third-quarter 2020 catastrophe loss impacts and trapped capital are seen in Markel Corporation's third-quarter 2020 results, as the company reported reduced revenues from its insurance-linked securities (ILS) operations, primarily due to a decline in management fee income at Nephila Capital for the period. Nephila Capital, the largest dedicated insurance-linked read the full article →

CATCo gets another $68.9m of trapped collateral back from side pockets

The winding down and running-off of Markel CATCo Investment Management’s retrocession focused investment fund, the CATCo Reinsurance Opportunities Fund Ltd., continues apace, with the manager securing another $68.9 million release from side pockets established for potential loss reserves. The Markel CATCo managed retrocessional insurance-linked securities (ILS) fund has been successfully retrieving read the full article →