CatCo Reinsurance Opportunities Fund

A lawsuit that has been going on since last year in the Florida court system between former CATCo CEO Tony Belisle and an investor vehicle Eugenia II Investment Holdings (BVI) has now been settled in principle.

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.

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.

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 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 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.

Markel CATCo Investment Management’ in run-off retrocession focused investment fund, the CATCo Reinsurance Opportunities Fund Ltd., is to release a further $25.6 million of its trapped capital back to investors, as more positions in its side-pockets see positive reserve development.

The fact that insurance and reinsurance companies sold California wildfire related claims to third-parties may ultimately reduce the amount of subrogation recoveries that flow back to reinsurance and retrocessional interests, it appears.

Markel CATCo Investment Management’ in run-off retrocession focused investment fund, the CATCo Reinsurance Opportunities Fund Ltd., is expecting another significant release of trapped capital, with another $37.9 million from its side pockets set to be returned to investors.

Markel Corporation is expecting to settle the binding arbitration case between it and the former Markel CATCo CEO Tony Belisle during the third-quarter of the year, putting another piece of the legal saga behind it.