CATCo listed ILS fund NAV’s bounce up to 1.3% in June

After having reported further loss creep that dented the net asset value's of its listed retrocessional reinsurance fund shares in May, the CATCo Reinsurance Opportunities Fund shows that premiums are still set to flow as its share classes returned up to 1.3% in June.The listed retrocessional reinsurance investment fund, that read the full article →

Markel puts lawsuits from ex-CATCo CEO’s Belisle & Fredricks behind it

Markel Corporation has reached the point where it can put the two lawsuits from the ex-CEO's of its Markel CATCo Investment Management unit behind it, having agreed terms to settle or close the cases.The insurance and reinsurance firm has reached agreements to settle both complains of wrongful dismissal and withholding read the full article →

Markel CATCo listed fund shares fall -18% in May on loss creep

The continued loss creep that has affected reinsurance markets this year has hit the listed retrocessional reinsurance investment fund operated by Markel CATCo Investment Management, resulting in a decline of -18% in both share classes of the ILS fund in May.The latest net asset value (NAV) figures show that both read the full article →

Markel CATCo adds to 2017 & 2018 catastrophe loss reserves again

Markel CATCo Investment Management has increased its specific loss reserves for catastrophe events from both 2017 and 2018 again, further denting the net asset values of the shares of its CATCo Reinsurance Opportunities Fund.This morning Markel CATCo Investment Management has announced that the latest loss notifications from cedant's show further read the full article →

Markel CATCo listed fund NAV’s rise for second consecutive month

The CATCo Reinsurance Opportunities Fund, Markel CATCo Investment Management's stock exchange listed retrocession focused investment fund, has experienced a second consecutive month of positive returns for April, but the shares are still discounted well below the latest NAV's.This retrocessional reinsurance investment fund is heading towards an orderly run-off, which will read the full article →

Still “up in the air” when Markel can raise new CATCo funds: Whitt, Co-CEO

Markel Corporation is still unsure when it will be able to begin raising new funds for future investment strategies operated by its Markel CATCo asset management unit, according to the firms Co-CEO Richard Whitt III.Asked about the future of its retrocessional reinsurance focused investment fund manager Markel CATCo Investment Management read the full article →

Nephila Capital revenues drive ILS income higher at Markel in Q1

Revenues earned through the operations of Nephila Capital added significantly to Markel Corporations income from its insurance-linked securities (ILS) operations during the first-quarter of the year.Nephila Capital related ILS and collateralized reinsurance activities drove an impressive $43.2 million of revenues for Markel in the quarter, which almost helped to offset read the full article →

Markel calls for dismissal of Belisle lawsuit, says “fails to state a claim”

Markel Corporation has requested the dismissal of the lawsuit filed against its Markel CATCo Investment Management subsidiary, claiming that the suit by Tony Belisle fails to state a reasonable claim against the firm.Prior to filing for the dismissal of the case in the district court of New Hampshire, Markel had read the full article →

Markel CATCo remains committed on 2019 portfolio: Rhoads

Markel CATCo Investment Management is committed to the delivery of its 2019 portfolio to shareholders in its listed retrocessional reinsurance fund strategy, signalling an intention to trade forwards once loss affected portfolios are dealt with.Markel CATCo continues to deal with the impacts of major catastrophe losses from 2017 and 2018 read the full article →

No evidence CATCo acted in bad faith on loss reserves: Markel

After an internal review conducted by outside legal counsel was completed, Markel Corporation says that the review found no evidence of "bad faith in exercising business judgment" by Markel CATCo personnel when it came to setting loss reserves in late 2017 and early 2018.Markel Corporation previously said that it had read the full article →