CatCo Reinsurance Opportunities Fund

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CATCo retrocession fund NAV’s leap on more favourable development

The CATCo retrocessional reinsurance investment portfolio appears to have had yet another major boost to its value on the back of additional favourable development related to the 2018 catastrophe loss year. Over the last few months, the stock exchange listed Markel CATCo managed retrocessional reinsurance investment funds have reported multiple cases read the full article →

CATCo funds to benefit from another release of trapped capital

The CATCo retrocessional reinsurance investment portfolio continues to benefit from favourable development on reserves, with the manager expecting yet another release of side pocket investment capital later this year, which it expects to buy back more shares with. In recent months, the CATCo retrocessional reinsurance investment funds have reported multiple cases read the full article →

CATCo funds report multi-year favourable side pocket development

The CATCo retrocessional reinsurance investment portfolio has continued to experience favourable development against prior loss year side pockets, with additional value recovered in April. Last time we covered the in run-off CATCo retro reinsurance investment funds, they had disclosed some favourable development against loss reserves from the 2019 underwriting year. Now, the read the full article →

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 →