Collateralized reinsurance and retrocessional investment fund manager, Markel CATCo Investment Management Ltd., has raised a huge $2.343 billion of new capital across its private and listed funds, placing the manager in a good position to meet demand at the key January 1st, 2018 renewals.
Markel CATCo announced at the end of October that it had successfully raised more than $1.8 billion of new capital from investors for its private insurance-linked securities (ILS) fund, with commitments from both new and existing investors.
Following this, Markel CATCo announced the raising of a further $543 million of fresh capital from investors for its stock exchange listed retrocession fund, CATCo Reinsurance Opportunities Fund.
This results in a combined capital raise of an impressive $2.343 billion from both new and existing investors across its private and listed reinsurance, retro and ILS funds, which puts the firm in a good position to meet demand for its products at the 1/1 renewals.
Markel CATCo is a leading provider of retrocessional solutions, and as such was hard hit by recent catastrophe events. In response the firm has looked to raise fresh capital in order to take advantage of any increased pricing of retrocession at renewals and the opportunities this brings, ensuring it can meet all of its 2018 contract renewals as well as respond to any increased demand.
