CatCo Reinsurance Opportunities Fund

The in run-off CATCo Reinsurance Opportunities Fund Ltd., the exchange listed retrocession focused investment fund strategy managed by Markel CATCo Investment Management, is set to return more trapped capital back to investors as its side pockets continue to prove more than adequate for certain older loss reserves.

The in run-off CATCo Reinsurance Opportunities Fund Ltd., the exchange listed retrocession focused investment fund strategy managed by Markel CATCo Investment Management, is expecting to receive an $18.8 million return of capital from a range of side pockets in May, with the proceeds set to be used to redeem more shares.

The CATCo Reinsurance Opportunities Fund Ltd., the listed retrocession focused investment fund strategy managed by Markel CATCo Investment Management, is set to buy-back almost $30 million of shares in a first compulsory purchase and the purchase is being made at NAV, which is well-above the current listed share prices for the fund.

For its 2019 underwriting year investments, the retrocession focussed CATCo Reinsurance Opportunities Fund Ltd. managed a 4.3% return, according to its annual report.

The directors of the listed and in run-off retrocessional reinsurance focused investment strategy, the CATCo Reinsurance Opportunities Fund Ltd., have confirmed that they won’t look to raise further capital “in any circumstances”.

Retrocessional reinsurance investment manager Markel CATCo is proposing to make compulsory redemptions or buy-backs of some of the remaining shares of its listed and in run-off investment strategy the CATCo Reinsurance Opportunities Fund Ltd.

The Australian bushfire disaster has caused some capital to be trapped within the listed retrocessional reinsurance investment fund strategy operated by Markel CATCo, while continued loss creep from hurricane Irma also hit exposed positions at the end of 2019.

Investors are circling shares in retrocessional reinsurance investment manager Markel CATCo’s listed insurance-linked securities (ILS) fund, partly due to share price increases experienced in recent weeks, but also over the potential for subrogation to benefit any holdings they have.

Markel CATCo Investment Management has added a new director to its stock exchange listed and in run-off retrocessional reinsurance focused investment strategy, the CATCo Reinsurance Opportunities Fund Ltd.

Retrocessional reinsurance focused investment manager Markel CATCo Investment Management expects that the combined impacts of recent catastrophe events typhoon Hagibis, typhoon Faxai and hurricane Dorian will result in a roughly 25% impact to capital deployed in the 2019 portfolio of its listed fund.