Catco Reinsurance Opport... Share Discussion Threads

[topvest] 01/11/2012 19:31

Got mine for US$1, so that was reasonable in my view.

[jonwig] 01/11/2012 18:45

Insured losses in range USD 7 - 15bn, and several weeks before more clarity:



CAT's fall has just about covered its maximum hit, so I might buy back soon. I'd need to get well inside the pretty wide spread though. (The real spread yesterday was a lot tighter than the quoted.)

[topvest] 01/11/2012 18:31

Well I think there is a big question mark over the final cost at this stage. I've bought some today on weakness. These sort of events are normal incidents for the likes of CATCo - without them they would have no business.

[jonwig] 01/11/2012 08:25

Statement re Sandy ... basically they've no idea of the potential impact.

[jonwig] 31/10/2012 07:28

Statement from DCG IRIS:

The average insured industry loss figures from the three modelling firms lie between US$9bn to US$10bn. We believe however that, given the extent of the wind field and the storm surge, the insured losses are more likely to lie between US$14bn to US$18bn.

"We" is Credit Suisse managers.

[jonwig] 29/10/2012 08:09

A single severe US wind event can lead to annual -1% performance, ie. more than wipe out the mooted eventless 23% performance at gross level.

To my mind, Sandy could provide that correction. Hence I sold just now.

[topvest] 11/7/2012 08:56

Yes, surprised this hasn't impacted the share price. Can see this slipping to a larger discount to be honest. Not a buying opportunity at current levels for a value investor.

[jonwig] 11/7/2012 07:59

Provisions detailed today could impact June 2012 NAV by over 10c to - say - 96c.

Share price is already at a discount to latest NAV so shouldn't fall as much as that, since the provisions will be maximal.

[jonwig] 15/6/2012 16:06

DCG IRIS timetable:

Placing and Offer opens 8.00 a.m. 1 June
Latest time and date for receipt of completed Application Forms and
payment in full by cheque under the Offer for Subscription 11.00 a.m. 15 June
Latest time and date for receipt of commitments under the Placing 3.00 p.m. 15 June
Announcement of the results of the Issue 18 June
Admission and dealings in Shares commence 8.00 a.m. 21 June
CREST stock accounts credited with uncertificated Shares 21 June
Where applicable, definitive share certificates despatched
by post in the week commencing 25 June

Tickers: Sterling shares (issue 100p), IRIS. US$ shares (issue $1.00), IRID.
Also Euro, IRIE and Swiss Franc, IRIC

[jonwig] 09/6/2012 05:39

CAT and DCG Iris:



DCG Iris details:

[jonwig] 30/4/2012 06:40

June is rumoured:

Dexion Capital is to list a new closed-ended investment fund, DCG Iris, on the London stock exchange, aiming for returns from insurance-linked strategies. The fund will access a portfolio of catastrophe risks, with a target net return of Libor plus 5-7 per cent and annual volatility of 2-4 per cent, by investing in the CS Iris Low Volatility Plus fund (the master fund), managed by Credit Suisse.

[jonwig] 15/2/2012 14:05

Cat bonds set for boom year as new investors eye market

Read more:

[jonwig] 10/1/2012 16:58

The RNS at 13:12 shouted 'sell'. Fortunately marketmakers were fast asleep.

Re-entered 13 Feb.

[jonwig] 15/11/2011 11:28

Dividend $0.051, xd 30 Nov, pay March 2012.

(Policy: LIBOR + 5% of NAV)

[jonwig] 20/12/2010 19:33

FT:



Catastrophe risk investment fund lists

By Paul J Davies, Insurance Correspondent

Published: December 19 2010 22:26 | Last updated: December 19 2010 22:26

A specialist fund dedicated to investing directly in extreme catastrophe risks has listed on the London Stock Exchange after raising $80m from Qatari and UK investors in the first flotation of its kind.

CatCo Reinsurance Opportunities Fund's exposures will be managed by a Bermuda-based investment company that will also run a larger open-ended fund for private investors, which is targeting about $1bn of assets.
EDITOR'S CHOICE
Higher car and home premiums boost RSA - Nov-05
Catastrophe losses hit Omega Insurance - Aug-31
Phoenix proposes higher dividend payments - Aug-27
CPP benefits from demand for fraud protection - Aug-26
Risk planning for PPF is still difficult - Aug-26
Premium growth bolsters Admiral - Aug-25

The listing of a similar fund designed to invest in fully collateralised reinsurance contracts was pulled earlier this year due to lack of demand. Catlin, the Lloyd's of London insurer, tried this summer to raise £150m in equity for its catastrophe vehicle. Some observers said it failed because it was an over-complicated idea and did not have a natural audience.

Insurance and reinsurance rates in most areas are falling at the moment because of a surplus of capital in the industry and yet there is still more money looking for a route to the "uncorrelated" risks the markets claim to offer.

A report from Swiss Re last week showed that insurance-linked securities such as catastrophe bonds, which also offer extreme risk exposure, had seen their third best year ever in 2010 with $3.8bn worth of securities sold.

The CatCo investment manager and the fund are both backed by Qatar Insurance Company, which invested $25m in the fund and owns the manager outright, according to a copy of the prospectus seen by the FT.

The fund aims to invest in a diversified set of catastrophe exposures, such as hurricanes, typhoons and earthquakes, in different parts of the world and will have no more than 20 per cent of its money exposed to a single catastrophic event. It is targeting internal rates of return of 12-15 per cent above Libor.

Co-operative Insurance Society and Henderson Global Investors each invested $16.1m in the fund, while Baillie Gifford invested $8m and JPMorgan Asset Management $6.5m.

The company is run by Tony Belisle, a veteran of the reinsurance industry who was involved in the development of collateralised contracts – designed to bring other financial investors into the reinsurance market – when he worked for US hedge fund Citadel. The hedge fund maintained reinsurance investment operations until the recent financial crisis.

The collateralised reinsurance market, where investors who do not have a credit rating put up cash in advance to back the insurance they write, peaked at about $10-15bn before the financial crisis, but has since fallen back. DE Shaw and Credit Suisse Asset Management are among the few significant players in the market.

[jonwig] 20/12/2010 19:31

. .



Chart for new C shares:

[woodrow wilson] 17/8/2007 23:29

Four words:

Fur lined slipper factory.

[smokin_jokin] 11/5/2007 06:00

Did you know these shares once touched £70 odd a share, and I bottled out of buying them at just under £2.....makes me sick actually.

[waldron] 04/2/2007 14:35

Japan's Komatsu to release hybrid versions of earthmoving machines - report


TOKYO (AFX) - Komatsu Ltd plans to market the world's first hybrid hydraulic
excavator in Japan and overseas this fall, the Nihon Keizai Shimbun reported,
citing company sources.
The machine is powered by a combination of an electric motor and diesel
engine, it said.
Komatsu also plans to release hybrid versions of wheel loaders and dump
trucks in the future, it said.
The midsize excavator consumes 30 pct less gas oil than the company's
existing model of comparable size driven only by a diesel engine, the report
said.
It will be priced around 12 mln yen in Japan, 20 pct higher than the current
model, it said, adding that the company aims to sell a total of 1,500 units in
Japan and overseas in fiscal 2010.
rc/

[onehanded] 16/5/2006 08:15

Just got a few of these as well from my sell yesterday -

RNS Number:9950C
Mediwatch PLC
16 May 2006

MEDIWATCH PLC

REACHES 1000
SIGNS EXTENDED DISTRIBUTION AGREEMENT FOR BARDSCAN

Mediwatch Plc (AIM: MDW), the high-tech medical diagnostic equipment
manufacturer and supplier, is pleased to announce that it has sold over one
thousand bladder scanners, 800 of which have been sold to C R Bard (Bardscans).
As a result of this successful product, Bard has signed an extended distribution
agreement to cover a further 45 countries in Europe, the Middle East and Africa.

The innovative, bladder scanner, (Bardscan), is manufactured by Mediwatch for C
R Bard.

C R Bard UK Ltd is a division of C R Bard Inc.

Philip Stimpson, CEO Mediwatch commented, "This is a fantastic achievement for
Mediwatch in a growing worldwide market. This demonstrates that Mediwatch
technology is pivotal and incorporated in a range of products which are rapidly
becoming the industry standard". With increasing life expectancy and an ageing
population, prostate and urological conditions are among the fastest growing
health problems encountered by doctors today.