Insight and Intelligence on the London & International Insurance Markets 18 Mar 2018
Markel Catco’s side pockets bulge after 2017 losses
- 13 March 2018
Markel Catco's London-listed Reinsurance Opportunities Fund had to put two-thirds of its year-end 2017 asset base into side pockets, much higher than the typical 5-15 percent that it puts on hold each year, sister publication Trading Risk reported.
The retro manager uses side pockets to isolate assets that may be called on to pay losses if its reserves deteriorate.
The London fund lost 47.4 percent of 2017 investor capital due to last year's catastrophe activity, leading its net asset value...
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