CATCo Reinsurance Opps Fund Ltd Net Asset Value and Portfolio Update (6696U)
January 20 2017 - 1:00AM
UK Regulatory
TIDMCAT
RNS Number : 6696U
CATCo Reinsurance Opps Fund Ltd
20 January 2017
FOR IMMEDIATE RELEASE
20 January 2017
To: SFM, London Stock Exchange and Bermuda Stock Exchange
NET ASSET VALUE AND PORTFOLIO UPDATE
Markel CATCo Investment Management Ltd., as Investment Manager,
announces the unaudited net asset value of the Company's Ordinary
Shares and C Shares of $1.3024 and $1.0512 respectively, as at the
close of business on 31 December 2016.
The NAV annual return for the year ended 2016 for Ordinary
Shares and C Shares was 8.12% and 7.27% respectively.
The Investment Manager recorded a loss reserve of c.1% of NAV in
relation to Hurricane Matthew that impacted parts of the Caribbean
before making landfall in South Carolina, U.S. on 8 October
2016.
A loss reserve of c.1% of NAV was also recorded in relation to
the magnitude 7.8 earthquake that struck the South Island of New
Zealand on 14 November 2016.
In addition, the Investment Manager increased its specific loss
reserve for the Canadian Wildfires to a total of c.3% of NAV (c.1%
was included in the June NAV). However, approximately 1% of the
annual attritional loss reserve (c.2% per annum) was un-utilised,
therefore this was reversed into the December NAV and partly
offsets the afformentioned loss reserve increase.
For further information, contact:
Markel CATCo Investment Management Numis Securities Limited
Ltd. David Benda / Hugh Jonathan
Telephone: +44 (0) 20 7260 1000
Judith Wynne
General Counsel
Telephone: +1 441 493 9005
Email: judith.wynne@markelcatco.com
Mark Way
Chief Operating Officer
Telephone: +1 441 493 9001
Email: http://mark.way@markelcatco.com
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
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