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Investor terms improved in Markel CATCo buyout

Markel CATCo Investment Management said this morning that it has received a "substantial level of investor support" for its proposed buyout transaction to speed the winding up of its retrocessional reinsurance investment funds and has updated the terms to be more favourable, in response to investor feedback it seems. In fact, read the full article →

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 →

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 →

ILS fund side pocket strategies evolving for the better: Horseshoe’s Desmond

The insurance-linked securities (ILS) market and its fund managers are adapting their strategies following several years of heavy catastrophe losses, with their experiences in dealing with trapped ILS collateral driving them to evolve the way ILS fund side pockets are set and dealt with, Brian Desmond of Horseshoe told Artemis. Side read the full article →

No room for complacency around earthquake risk: ILS Asia 2021

To the reinsurance and insurance-linked securities (ILS) market, earthquake risk is one of the biggest peril threats in the world and one that the market can’t be complacent about, according to Paul Wilson, Head of Non-Life Analytics at Securis Investment Partners. In recent years, the resilience of the ILS market has read the full article →