Share Name Share Symbol Market Type Share ISIN Share Description
Catco Reins. LSE:CAT London Ordinary Share BMG1961Q2095 ORD USD0.00013716 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +$0.00 +0.00% $1.02 $1.00 $1.03 $1.02 $1.015 $1.02 60,267 16:35:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 33.9 0.0 - 399.50

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Date Time Title Posts
01/7/201411:13Caterpillar - CAT in USA5
26/1/200915:00Fancy having a Dig at DISNEY thats really CAT.57
17/8/200722:29Fat Cattery1
16/5/200607:15CAT Where from Here519

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Catco Reins. (CAT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-12-13 16:35:251.023,5003,570.00UT
2017-12-13 10:08:121.0116,76716,964.85O
2017-12-13 09:52:251.019,0009,110.70O
2017-12-13 08:08:401.0131,00031,381.30O
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Catco Reins. (CAT) Top Chat Posts

Catco Reins. Daily Update: Catco Reins. is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker CAT. The last closing price for Catco Reins. was US$1.02.
Catco Reins. has a 4 week average price of US$1.02 and a 12 week average price of US$1.01.
The 1 year high share price is US$1.36 while the 1 year low share price is currently US$1.01.
There are currently 391,666,430 shares in issue and the average daily traded volume is 330,810 shares. The market capitalisation of Catco Reins. is £399,499,758.60.
jonwig: A month old: Shareholders in the retrocessional reinsurance linked investment focused CATCo Reinsurance Opportunities Fund Ltd. benefited from an 18.1% total-return over the course of 2015, as dividends boosted the 11.58% net return. The 11.58% net return that insurance and reinsurance linked investment manager CATCo returned to shareholders could have been as high as 14%, equaling the 2014 figure, were it not for the UK floods at the end of the year. The provision of dividends and capital return throughout the year make the share price total-return of the fund much higher, which helps to make this type of ILS investment a buy and hold style investment for many shareholders. Http:// More up-to-date, explaining why NAV above xd effect in Feb: Reinsurance and retrocession linked investment and fund manager Markel CATCo Investment Management Ltd. has released a portion of side pocket investments set up in December 2015 for potential exposure to the UK floods and U.S. severe convective storms. In an announcement related to the retrocessional reinsurance investment focused listed CATCo Reinsurance Opportunities Fund Ltd. the investment manager said that the amount of collateral it needs to hold against potential losses from these events had shrunk. Http://
jonwig: Portfolio update includes: FY15 portfolio provides for an indicative net return of 19% 2015 average risk per pillar decreased to 3.3% (2014: 4.1%). Helped by reduced cost of hedging the portfolio This really ought to eliminate the current share price discount to NAV.
jonwig: Given the reinsurance climate, recent strength here is a bit puzzling. Perhaps they intend a dividend of around 12c (as per guidance) and returning another tranche of capital. We get not only the share price increase, but currency translation effects too.
topvest: Seems a rather odd announcement today, given the share price is close to NAV. Lets wait and see what happens. At least 2013 looks a good year. It will be interesting to see what return they have generated. I suspect it's not as much as originally envisaged. Maybe too much capital around.
jonwig: Hurricane Sandy estimate repeated as $18.75m. "The existing retrocessional reinsurance loss reserve provision that is included in the Company's Net Asset Value calculation is based on an insured industry loss of $20 billion. The Board of Directors remains of the opinion that there is no need to amend the existing retrocessional reinsurance loss reserve provision that is currently in place." Presumably that will be the end-Nov 2012 NAV. The share price looks to be matching the likely end-May NAV.
topvest: Everyone to his own. CATCo's share price will depend on whether they can show some NAV growth on top of the dividend. We need NAV growth to $1.20 or so this year, to help the sentiment here. Lonrho is a dog in my view. Held some in the Lonrho Africa days.
jonwig: 1337dg - I think CAT checks the 'high risk - high rewards' buttons, yes. It concerns me that their RNSs are pretty opaque and badly written. Anyway, the latest NAV corresponds to the current share price (just about), and retrocession lines will be pricier next year, no doubt! I'm wondering whether to add IRIS to my holdings, as it seems to have a much lower risk profile.
topvest: 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: 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.
matthu: From what I can tell, CAT's rate is 6.0% on sales up to £100m 5.5% on sales in excess of £100m up to £150m 5.0% on sales in excess of £150m So on sales of £455m CAT should expect a royalty of 5.27%. Under the original agreement, CAT licensed a patent called Neuberger from MRC and sublicensed this to Abbott. MRC was obliged to collect 2% from CAT and this effectively reduced the royalty CAT booked from Abbott. However, Neuberger was amended in 1997 so that CAT no longer needed to license it, and CAT has accordingly become entitled to the full 5%-6% royalty from Abbott ever since. You are right that the full value of the court case has yet to be recognised in the share price. Part of the gain has been offset by a 10% drop in share price in November when CAT reported that its Trabio treatment had failed to meet the primary goal of a study. But the remainder of the gain seems to be pending the outcome of Abbot's application for right to appeal. My own guess is that there is another £2 upside in the share price pending the outcome of this appeal, but things may become clearer when the results are released next month and when analysts have had another chance to run their sliderules over the figures. PS I am not an expert by any stretch of the imagination!
Catco Reins. share price data is direct from the London Stock Exchange
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