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CATCo retro fund further reduces 2018 wildfire losses

The CATCo Reinsurance Opportunities Fund Ltd., the listed, retrocession focused insurance-linked securities (ILS) fund strategy managed by Markel CATCo Investment Management, has again seen its net asset value (NAV) rise after another reduction in catastrophe loss reserves, this time from the 2018 California wildfires. The retrocessional reinsurance investment portfolio constructed by read the full article →

Markel CATCo buyout proposal challenged by Pension Insurance Corporation (PIC)

Pension Insurance Corporation plc (PIC) announced just now that it intends to try and put together an investor group to challenge retrocessional reinsurance investment manager Markel CATCo's proposed buyout scheme, saying that it believes it will "drastically undervalue the interests of investors." The move could be a setback to the plans read the full article →

Markel CATCo in bankruptcy filing. Danish pension PKA revealed major holder

Markel CATCo Investment Management, the in run-off retrocessional reinsurance manager of insurance-linked securities (ILS) funds, is to be the subject of Chapter 15 bankruptcy proceedings, with filings made in the United States that have also disclosed Danish pension fund investor PKA A/S as a major holder. Chapter 15 bankruptcy proceedings are read the full article →

US authorities take no action against Markel CATCo on loss reserves

United States governmental authorities have concluded their investigations into retrocessional reinsurance investment manager Markel CATCo this week, with no action set to be taken. It's another step towards the successful winding-up and running-off of the Markel CATCo retro reinsurance investment funds, on which as we explained earlier this week the manager read the full article →

Markel CATCo fund chairman suggests further subrogation recoveries possible

Having announced this morning that a proposal has been made to investors to speed the running-off and return of capital of the Markel CATCo retrocessional reinsurance investment funds, the half-year report of the manager's public fund suggests further wildfire subrogation related recoveries are possible. The proposal announced this morning from Markel read the full article →

Markel funded buy-out proposal seeks to speed return of CATCo capital

A new proposal from Markel CATCo Investment Management and Markel Corporation seeks to speed the return of capital from the CATCo retrocessional reinsurance investment funds to investors, while avoiding any complications to the ongoing running-off from legal claims made. According to documents filed with the London Stock Exchange this morning, Markel read the full article →

Nephila one of the most institutional hedge fund managers

According to a survey undertaken by publisher Pensions & Investments, Markel owned insurance-linked securities (ILS) investment manager Nephila Capital is one of the most institutional hedge fund managers, based on the profile of its end-investors. Every year Pensions & Investments (P&I) surveys the hedge fund industry and provides a ranking of read the full article →

CATCo portfolio continues to develop favourably, recoups 3% on 2017 losses

The retrocessional reinsurance investment portfolio constructed by Markel's CATCo Investment Management is continuing to develop more favourably than had originally been expected, with the firm reporting a reduction of claims in relation to catastrophe events from 2017. The CATCo Reinsurance Opportunities Fund Ltd., the exchange listed, retrocession focused insurance-linked securities (ILS) read the full article →

New Nephila offerings planned, retro to transition to Lodgepine: Markel’s Whitt

New opportunities for Nephila Capital to grow its insurance-linked securities (ILS) business are expected to come to fruition over the next year through bespoke offerings and ESG portfolios, while Lodgepine's first retrocession ILS fund launch is just the start, according to Markel Corporation Co-CEO Richie Whitt. Speaking during the Markel second-quarter read the full article →

Markel’s Lodgepine launches first retro ILS fund with ~$100m

Lodgepine Capital Management Limited, the retrocessional reinsurance ILS fund management unit of Markel Corporation, launched its first insurance-linked securities (ILS) fund featuring third-party capital at July 1st 2021 with just under $100 million in assets. Lodgepine Capital Management has been in start-up mode for more than a year, underwriting its own read the full article →