Markel CATCo Investment Management

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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 →

Former CATCo CEO Belisle’s fraud lawsuit stayed as settlement negotiated

A settlement is being negotiated between parties in a Florida fraud lawsuit lawsuit involving former CATCo CEO Tony Belisle, with the proceedings stayed until May to allow for the negotiations to continue. Back in December we reported that former CATCo CEO Tony Belisle was involved in a lawsuit brought on behalf read the full article →

Bermuda Court orders CATCo creditor meetings be held

At a directions hearing held in a Bermuda Court yesterday, the judge ruled that meetings of buy-out scheme creditors in the Markel CATCo Investment Management operated retrocessional reinsurance funds be held. The news on the next stage in the running-off of retrocessional reinsurance investment funds that are managed by Markel CATCo read the full article →

CATCo retro funds head back to Bermuda Court this week

The in run-off retrocessional reinsurance investment funds that are managed by Markel CATCo Investment Management are heading back to the Bermuda Court this week to provide an update on recent developments. As Markel CATCo seeks to speed the resolution and winding down of the retro reinsurance investment funds, a court directions read the full article →

Markel CATCo gets majority investor support for improved buy-out terms

Markel CATCo Investment Management has gained support from a majority of investors in its listed retrocessional reinsurance investment fund for the improved terms of the buy-out offer and an extension of the Support Undertakings to 31st March 2022. We reported last week that the terms of the Markel CATCo buyout proposal read the full article →

CATCo reports favourable development on 2017 & 2018 catastrophes

The CATCo Reinsurance Opportunities Fund Ltd., the listed, retrocession focused insurance-linked securities (ILS) fund strategy managed by Markel CATCo Investment Management, has recovered more value for its investors, with favourable development related to 2017 and 2018 catastrophe loss events. Once again, the retrocessional reinsurance investment portfolio constructed by Markel’s CATCo Investment read the full article →

Markel CATCo buy-out terms sweetened after settlement reached

Markel CATCo Investment Management has announced a sweetening of the terms of the buyout process for its retrocessional reinsurance investment funds, after a settlement was reached and more investor support for its winding down was received. Previously, the investment manager extended the expiry date of the support undertakings it received from read the full article →

Markel has full-confidence in Nephila: Co-CEO Whitt

Markel Corporation has full-confidence in the ability of its insurance-linked securities (ILS) specialist manager Nephila Capital to deliver results over the long-term and looks forward to realising more synergies with the ILS operation, according to Co-CEO Richie Whitt. Speaking during Markel's Q4 and full-year 2021 earnings call today, Richie Whitt highlighted read the full article →

Nephila AuM drops $1bn to $8.8bn in second-half of 2021

Assets under management at Markel's flagship insurance-linked securities (ILS) operation Nephila Capital dropped by roughly $1 billion during the second-half of 2021, as the effects of natural catastrophe activity and redemptions dented the ILS fund managers scale. However, operating revenues from Markel's insurance-linked securities (ILS) business Nephila Capital increased during the read the full article →