Insight and Intelligence on the London & International Insurance Markets 18 Mar 2018
Markel Catco posts 27.6% loss after reserve boost
- 19 January 2018
The Catco Reinsurance Opportunities Fund missed its expected result for 2017 after posting a 27.6 percent loss for the year following claims deterioration from the October wildfires in California.
The loss comes after fund manager Markel Catco increased its wildfire reserves by 14.4 percent of net asset value (NAV) in December, after previously reserving for just a 4.4 percent impact to NAV.
Markel Catco also increased reserves related to hurricanes Harvey, Irma and Maria by 3.6 percent of NAV, after...
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