Additional investments from existing and new investors, and the expectation of increased demand from both existing and new reinsurance clients at the upcoming January 1st, 2018 renewals, has seen Markel CATCo Investment Management Ltd. successfully raise over $1.8 billion for its Private fund.
After raising more than $1.8 billion from existing and new investors, Markel CATCo is able to fund all of its 1/1 reinsurance contract renewals, as well as a slice of increased buyer demand for its solutions from reinsurance clients.
On October 2nd, 2017, Markel CATCo, alongside the Board of its public fund, CATCo Reinsurance Opportunities Fund Ltd., revealed plans to raise further funds to meet increased demand from current shareholders and new investors.
To enable the additional raising of funds, Markel CATCo intends to publish a prospectus in early November, 2017, by way of a placing of new C Shares.
The proceeds from the C Shares will facilitate the fund being able to meet additional reinsurance buyer demand.
Chief Executive Officer (CEO) of Markel CATCo, Tony Belisle, said; “The Markel CATCo team is extremely grateful for the tremendous support demonstrated by our investors and, equally importantly, by the buyers of our reinsurance protections and the loyalty they have shown towards our unique product offering.
“The ability to raise and deploy this significant amount of additional capital is testament to the Markel CATCo team focus on providing both exceptional, long term returns to our investors and, also, the highest levels of service to our reinsurance clients. I thank each one of them for their professionalism, hard work and commitment.”
