Reinsurance News
Markel CATCo
Markel reports court approval for CATCo fund buyout schemes
18th March 2022
Markel Corporation and Markel CATCo Investment Management has announced court approval of the buy-out transaction and schemes of arrangement being undertaken by Markel CATCo Reinsurance Fund and the CATCo Reinsurance Opportunities Fund. According to Markel, these two insurance-linked securities funds are currently in runoff and are managed by MCIM, the Funds' ... Read the full article
Markel announces buy-out transaction to accelerate return of CATCo capital
27th September 2021
Markel Corporation and Markel CATCo Investment Management Ltd. (MCIM) have announced a new buy-out transaction designed to provide an accelerated return of substantially all the net asset value (NAV) in both the Markel CATCo Reinsurance Fund and CATCo ... Read the full article
Markel CATCo portfolio managers depart to launch Chard Re
14th October 2019
Markel CATCo Investment Management Ltd., the collateralized reinsurance and retrocessional investment fund manager, has announced that two of its portfolio managers will be leaving the company to establish a new investment manager and fund, called Chard Re Investment Management (Chard Re). Rick Montgomerie and Charlie Vaughan were the portfolio managers for ... Read the full article
Markel announces new retro ILS platform, closes CATCo funds
26th July 2019
Markel Corporation has announced that it intends to establish a new retrocessional insurance-linked securities (ILS) platform in Bermuda, comprised of a reinsurance company, fund entity and investment manager. At the same time, the company said that it would start to wind down its existing Markel CATCo fund operations, which will be ... Read the full article
Internal review finds no evidence CATCo personnel acted in bad faith: Markel
15th April 2019
Markel Corporation has revealed that an internal review of CATCo's loss reserving in late 2017 and early 2018 by outside counsel, has found "no evidence that CATCo personnel acted in bad faith in exercising business judgement". The firm announced previously that it had sought outside counsel to conduct an internal review ... Read the full article
Markel CATCo heads dropped after review, new execs take over
21st January 2019
Markel Corporation has announced that reinsurance executives Jed Rhoads and Andrew Barnard are to take over management of Markel CATCo following an internal review that resulted in the departure of the unit’s former heads, Anthony Belisle and Alissa Fredricks. Belisle, who was CATCo’s Chief Executive Officer (CEO), and Fredricks, who was ... Read the full article
Markel Corporation buying Nephila Capital, world’s largest ILS manager
31st August 2018
It's been announced that Markel Corporation is to acquire all of the outstanding shares of Nephila Holdings Limited, the largest manager of catastrophe and weather insurance and reinsurance linked investment funds in the world. Nephila manages $12.2 billion of assets under management (AuM) for a geographically diverse investor base of ... Read the full article
CATCo lines up $1bn of underwriting for Jan 19, expects flat pricing
17th August 2018
Markel CATCo's listed retrocessional reinsurance fund, the CATCo Reinsurance Opportunities Fund Ltd., has already lined up $1 billion of underwriting for January 2019, achieving similar rates to 2018. The company has released its first-half 2018 report, which reveals that mid-year renewals were successful, at the same increased pricing achieved at the ... Read the full article
Trend of upwards revisions of firms’ 2017 loss reports begins: Jefferies
23rd January 2018
Upwards revisions to company loss reports from alternative capital providers and smaller reinsurers are expected to fill the $20 billion gap between industry loss estimates and aggregate company losses for hurricanes Harvey, Irma and Maria (HIM), according to Jefferies. After Markel CATCo's CATCo Reinsurance Opportunities Fund and the Blue Capital ... Read the full article
Markel CATCo names Alissa Fredricks CEO, Bermuda
7th December 2017
Markel CATCo Investment Management Ltd. has announced that its previous Chief Risk Officer (CRO), Alissa Fredricks has been appointed to the newly created position of Chief Executive Officer (CEO), Bermuda, effective immediately. Fredricks joined the firm in 2016 as CRO, where she oversaw the firm's portfolio and all underwriting activity. As ... Read the full article
Markel CATCo raises over $2.3bn of fresh capital for 1/1
29th November 2017
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 ... Read the full article
Retro player Markel CATCo raises $1.8bn+ to meet renewal demand
30th October 2017
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. successfullyRead the full article
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