Markel CATCo begins returning capital to listed fund shareholders

Markel CATCo Investment Management has begun returning capital to shareholding investors in its listed retrocessional reinsurance investment fund, with almost $16 million set to be returns by way of an interim dividend.The Board of the Markel CATCo exchange listed managed fund recommended an orderly run-off of the fund’s portfolios of read the full article →

Markel hires Brenton Slade as President of Lodgepine retro ILS play

Markel Corporation has hired Brenton "Brent" Slade from Hamilton Insurance Group to be the President of its newly launched retrocessional reinsurance ILS fund management unit Lodgepine Capital Management Limited.Brent Slade joins Lodgepine Capital Management Limited, the Markel owned retrocessional ILS fund operation based in Bermuda, from his most recent position read the full article →

Markel CATCo warns of exposure to hurricane Dorian, Typhoon Faxai

Retrocessional reinsurance focused investment manager Markel CATCo Investment Management has warned that investors in the 2019 portfolios of its listed fund are exposed to potential losses from recent catastrophe events hurricane Dorian and typhoon Faxai.The investment manager is currently running off its retrocessional reinsurance investment strategies, but having written new read the full article →

Markel reveals Lodgepine Capital Management, its new retro ILS platform

Markel Corporation has revealed its awaited new retrocessional reinsurance ILS fund management unit, which is based in Bermuda and called Lodgepine Capital Management Limited.The new Markel insurance-linked securities (ILS) fund manager will focus on retrocession and has launched today along with a reinsurance company, Lodgepine Re.Markel said that Lodgepine Capital's read the full article →

CATCo listed fund NAV’s continue rise, but shares priced far below

On a net asset value (NAV) basis, the CATCo Reinsurance Opportunities Fund continued to deliver positive NAV returns in July, but at the same time the share price continues to languish, as much as 135% below their net asset value in the case of one class.Of course, the CATCo Reinsurance read the full article →

CATCo 2019 deals show 6% H1 return, but new side pockets needed

Despite the fact it is set for run-off it is interesting to note that the 2019 portfolio underwritten for the CATCo Reinsurance Opportunities Fund has delivered a 6% net asset value return in the first-half of the year to one class of shareholders.The CATCo Reinsurance Opportunities Fund is being wound read the full article →

Markel CATCo begins listed retro ILS fund buy-backs

A schedule has now been set for the beginning of the share buy-backs for the listed retrocessional reinsurance investment fund operated by Markel CATCo Investment Management, with a portion of the shares of the CATCo Reinsurance Opportunities Fund set to be repurchased in September.The Board of the Markel CATCo exchange read the full article →

Markel won’t try to emulate CATCo, committed to ILS

Markel Corporation has no intention of emulating the well-known CATCo retrocession products within the new retro insurance-linked securities (ILS) platform the firm intends to launch for the end of the year.As revealed last week, the Markel CATCo unit and investment funds are now set to be wound down and capital read the full article →

Nephila Capital revenues help offset CATCo costs for Markel

Revenues earned through the operations of its insurance-linked securities (ILS) manager Nephila Capital have helped to offset costs related to Markel CATCo in the second-quarter and first-half of the year for owner Markel Corporation.Revenue contributions to Markel are now being fully reported for the activities of the Nephila Capital ILS read the full article →

Markel to launch new retro ILS platform, wind down CATCo funds

Markel Corporation said it is launching a new retrocessional reinsurance insurance-linked securities (ILS) fund platform, while at the same time announcing a winding down of the existing Markel CATCo fund operations.For Markel this is a chance to wipe the slate clean, by shuttering the old CATCo retrocessional reinsurance investment operations read the full article →