Markel CATCo waives some side-pocket related management fees

The Board of stock exchange listed retrocessional reinsurance investment fund the CATCo Reinsurance Opportunities Fund said today that it has agreed to a waiver of one-third of the management fees related to side-pocketed investments that it would normally pay to Markel CATCo Investment Management.The Board of the fund company said read the full article →

Nephila delivers Markel $25.3m in revenues in just a month & a half

Markel Corporation earned an impressive $25.3 million of operating revenues from its insurance-linked securities (ILS) manager Nephila Capital in 2018, despite only having acquired the firm in mid-November.In addition, Markel also registered $66.2 million of ILS related revenues from its Markel CATCo retrocessional reinsurance investment operations during the year as read the full article →

Markel CATCo listed fund likely to be run-off, enable investor redemptions

Markel CATCo Investment Management looks likely to run-off the portfolios of retrocession reinsurance from its stock exchange listed fund the CATCo Reinsurance Opportunities Fund.Markel CATCo had previously offered investors the option of converting their shares in the fund to redemption shares, to allow them a liquidity opportunity.Today, an announcement from read the full article →

Belisle & Fredricks claiming wrongful dismissal from Markel CATCo

Anthony Belisle, the former CEO of retrocessional reinsurance investment manager Markel CATCo Investment Management and Alissa Fredricks, the former CEO of its Bermuda operations, are both claiming wrongful dismissal from the firm.The owner of Markel CATCo, the insurance and reinsurance firm, Markel Corporation had let the pair go after it read the full article →

Markel CATCo portfolio no loss return rises to 30% on higher rates

Markel CATCo Investment Management Ltd., the retrocessional reinsurance investment manager, has successfully secured higher rates at the January renewal, with its listed retro investment fund no loss maximum net return now forecast at 30%, up from 23% in 2018.That's a 30% increase in the maximum net return on a no read the full article →

Markel to adapt CATCo strategy based on learnings from 2017/18 losses

Markel Corporation plans to adapt the Markel CATCo underwriting and investment strategy based on what it can learn from the catastrophe losses that affected it so severely during 2017 and 2018, the re/insurers Co-CEO said.Catastrophe losses suffered by Markel CATCo’s retro reinsurance investment fund strategies over the last two years read the full article →

Markel’s ILS revenues rise sharply on asset growth and Nephila acquisition

Markel Corporation saw operating revenues earned from its ILS investment management operations rise sharply in 2018, coming in at $92 million for the year compared to $29 million in the prior year.Driving the increased revenue from operations managing third-party capital invested in reinsurance linked assets was the growth of assets read the full article →

Markel CATCo further hardens 2017 reserves, redemptions expected

Markel CATCo Investment Management Ltd., the retrocessional reinsurance investment manager, said this morning that following review it has decided to further strengthen its specific loss reserves for the 2017 hurricanes.The manager highlighted the ongoing uncertainty with regards to the 2017 loss events, for which it had already set up specific read the full article →

Markel writes down value of CATCo investment

Markel Corporation has written down the value of its investment in collateralized retrocessional reinsurance investment fund manager Markel CATCo Investment Management following recent challenges at the unit.Markel Corporation said that "Markel CATCo's ability to maintain or raise capital has been adversely impacted" by the situation that resulted from inquiries into read the full article →

Markel confirms commitment to ILS, support for CATCo team

Markel Corporation has confirmed its commitment to insurance-linked securities (ILS), telling the Board of the exchange listed Markel CATCo managed retrocessional reinsurance investment fund that it remains part of the firms long-term strategy.The confirmation comes in the wake of the news of the departure of Markel CATCo CEO Tony Belisle read the full article →