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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 →

California wildfires in 2021 have destroyed or damaged 3,500 structures

Wildfires burning in California in the current season have now either damaged or completely destroyed more than 3,500 structures, according to the latest data from Cal Fire. The wildfire season in California has been particularly active again, even though the accepted peak of the season is just approaching. As of the end 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 →

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 →

California’s Caldor wildfire behaviour said extreme, to drive rising losses

The Caldor Fire in California's Eldorado County exploded yesterday, with extreme wildfire behaviour seen to drive the fire's burn area up by more than 360% to 30,000 acres, while a number of northern California towns saw structure loss that has yet to be counted. The Caldor Fire expanded significantly at a read the full article →

California’s Dixie fire spreads again, over 1,000 structures destroyed

The Dixie wildfire that is burning in California has now burned almost half a million acres and continues to put significant property value at-risk, with now 1,027 structures reported as having been destroyed by the fire. The Dixie Fire ignited above the Cresta Dam in the Feather River Canyon on July read the full article →

US wildfires no longer a secondary peril, says Chaucer

Specialty insurance and reinsurance group Chaucer, owned by leading Chinese reinsurer China Re, has studied the incidence of wildfires in the United States and concluded that it is time wildfire was considered a primary peril by the industry. As wildfires rage across the United States western states and into Canada still, read the full article →

California Wildfire Fund balks at reinsurance pricing again

For the second year running the California Wildfire Fund has shied away from buying reinsurance or any form of risk transfer, saying that current market pricing means it isn't economically worthwhile to extend the Fund's durability. However, importantly, the California Wildfire Fund acknowledges that risk transfer remains in its sights, saying read the full article →

CATCo retro fund gains 8% as wildfire claims reduce (possible subrogation)

The CATCo Reinsurance Opportunities Fund Ltd., the listed, retrocession focused insurance-linked securities (ILS) fund strategy managed by Markel CATCo Investment Management, has gained roughly 8% in the last month thanks to a further reduction in claims from 2017 and 2018 wildfire loss events. It's the second time this has happened for read the full article →

California wildfire season could be extreme in 2021, warn experts

Scientists, meteorologists and other experts with a view on wildfire related conditions in the state of California are warning of the potential for an extreme, potentially catastrophic 2021 wildfire season, as tinder dry conditions begin particularly early in the year. The last few years of California wildfires have shown the insurance, read the full article →