Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018
Markel Catco ties up 42% of net assets in side pockets
- 6 February 2018
Markel Catco has placed 41.5 percent of net assets in its London-listed Reinsurance Opportunities Fund into side pockets connected to the 2017 losses, the retro manager said in an update on its 2018 portfolio.
This would equate to around $192mn based on its $464mn of net assets at year-end 2016, not accounting for a dividend paid at the start of 2017.
Side pockets are used by insurance-linked securities managers to segregate assets that could be drawn down to meet catastrophe...
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