Markel CATCo Investment Management

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CATCo funds report favourable development on 2019 year side pocket

The CATCo retrocessional reinsurance investment portfolio experienced more favourable development on a side pocket set for the 2019 underwriting year before its final winding down and distribution of the remaining capital to investors was complete. The buy-out schemes for the Markel CATCo managed retrocessional reinsurance investment funds closed at the end read the full article →

CATCo run-off process could continue into 2023 for Markel

With the CATCo retrocessional reinsurance investment funds buyout now completed, owner Markel and the remaining former-Markel CATCo team can concentrate on running-off the remainder of the portfolio, a process that could continue into 2023. The buy-out schemes for the Markel CATCo retrocessional reinsurance investment funds closed at the end of March read the full article →

CATCo shares redeemed as investors get their exit

Shares have been redeemed in the public and stock exchange listed CATCo Reinsurance Opportunities Fund, as investors in the strategy finally get to realise the remaining value and exit the retrocessional reinsurance investment strategy. The exit point, through a buy-out of all shares in the CATCo retro reinsurance fund strategies, was read the full article →

CATCo buy-out scheme closes, distributions to investors begin

The closing date for the buy-out schemes for the Markel CATCo retrocessional reinsurance investment funds was yesterday March 28th and as a result distributions of the remaining value in the ILS fund strategies to investors have begun. Having received the necessary Bermuda court approval and bankruptcy support from the US earlier read the full article →

CATCo buy-out gets US court approval, Belisle lawsuits to be dismissed

The proposed buy-out schemes for the Markel CATCo retrocessional reinsurance investment funds have now received formal support from the US bankruptcy courts and Markel said yesterday that two lawsuits filed against former Markel CATCo CEO Tony Belisle will now be dismissed with prejudice, as the buy-out offer moves towards its read the full article →

CATCo buyout schemes sanctioned by Bermuda Court

Gaining closure over the Markel CATCo retrocessional reinsurance investment funds cleared another hurdle for parent Markel today, after a Bermuda Court sanctioned the proposed schemes to implement the buyout process. As we explained earlier this week, investors in the Markel CATCo retro reinsurance investment strategies voted overwhelmingly in favour of the read the full article →

CATCo investors vote “overwhelmingly” in favour of buyout

Investors in the Markel CATCo retrocessional reinsurance investment funds have voted overwhelmingly in favour of the proposed and updated buyout terms, putting the process on course for a resolution and completion by the end of the month. Scheme Meetings, in respect of the Schemes of Arrangement of the buy-out offer, were read the full article →

Markel CATCo funds seek US bankruptcy support for buyout

The Markel CATCo retrocessional reinsurance investment funds are seeking support from the US bankruptcy courts for the proposed buyout schemes, which is seen as a precondition for the buyout proceedings moving forwards. In a Chapter 15 filing, Markel CATCo is seeking recognition and enforcement of the Schemes of Arrangement in the read the full article →

Lodgepine CEO Barnard and President Slade depart Markel

Andrew Barnard and Brent Slade, the two most senior executives from Lodgepine Capital Management Limited, the in run-off start-up retrocession investment manager owned by Markel Corporation, are departing the company. Markel launched Lodgepine Capital Management in late 2019 as a new insurance-linked securities (ILS) fund strategy for the company, focused on read the full article →

Markel CATCo sets buy-out meeting date. End of process in sight

Investors in the Markel CATCo retrocession and reinsurance investment funds are being urged to vote in favour of moving the buy-out process forwards at meetings to be held on March 4th, putting the end of this chapter in sight. Scheme Meetings, in respect of the Schemes of Arrangement of the buy-out read the full article →