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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
  +$0.005 +2.04% $0.245 $0.23 $0.26 $0.245 $0.245 $0.245 0 08:00:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -8.2 0.0 - 95.96

Catco Reins. Share Discussion Threads

Showing 1276 to 1300 of 1300 messages
Chat Pages: 52  51  50  49  48  47  46  45  44  43  42  41  Older
DateSubjectAuthorDiscuss
10/1/2019
15:46
Hope the directors have deep pockets - they appear to be the only buyers ;)
spectoacc
03/1/2019
12:32
200,000 shares would have been a lot once ;) Dunno - all their previous purchases of CATC haven't turned out so well.
spectoacc
03/1/2019
12:19
Director James Keyes buys 200,000 @ $0.245. Profile: Non-executive Chairman James Keyes has been a Managing Director of Renaissance Capital since 1 October 2008, and established the Bermuda office for Renaissance Capital in 2008. James was previously a partner of Appleby, an offshore law firm, for 11 years. He joined Appleby in 1993 and was team leader of the Funds and Investment Services Team. Prior to Appleby, he was employed in the corporate department of the law firm Freshfields, and worked in their London, New York and Hong Kong offices. James was admitted as a Solicitor in England and Wales in 1991 and to the Bermuda Bar in 1993. He became a Notary Public in 1998. He acts as a Director on a number of investment funds and private companies, including the Brummer Group and investment funds managed by Polar Capital Investments. He joined the Board of Directors of CATCo Reinsurance Opportunities Fund Ltd. on 7 December 2010. Not an insurance professional. Follow? Pass? But note 18/12 RNS: https://www.investegate.co.uk/catco-re-ins-opps-fd/rns/portfolio-update/201812181530288779K/ following 30/11 NAV of $0.3978: 40% discount on that ... enough?
jonwig
08/12/2018
15:47
Really interesting, thanks @Jonwig. I feel for the C holders, who seem to have been sold a pup - at least the Ords had some years of profit (7 or so?) before losing most of their money. C's were sold on the basis of "Now there's been big losses, prices will be much better". The "loss creep" is the worst thing.
spectoacc
08/12/2018
12:40
This is pretty detailed, and probably accurate. Not easy reading for a non-specialist such as myself, though: Https://www.insuranceinsider.com/articles/123480/insider-view-markel-catco-regulatory-investigation
jonwig
08/12/2018
07:55
Lol @danieldruff
spectoacc
07/12/2018
18:36
The share price of Markel Corp has fallen today from $1.135 to $1.058. Presumably the speculation is that the parent could be on the hook if the fund is insolvent? @ danieldruff - no bounce, I think.
jonwig
07/12/2018
18:11
Dead Catco
danieldruff2
07/12/2018
16:19
1m CATC's at 40c now. Presumably there's a bottom for both of them somewhere - clearly isn't yet. Remember all those director buys... Clueless.
spectoacc
07/12/2018
13:26
3.6m dumped at 18c I see, vs close of 32c
spectoacc
07/12/2018
12:34
So, it appears that not only is the business model bust, but they have also been cooking the books. Very poor!
topvest
07/12/2018
08:57
Don't know why I am still invested {though I did sell out at the top but bought back much too early}. I did suggest that Markel be fired [before the current year losses] but the management is too busy enjoying its fees at the expense of shareholders. I told Way and Wynne years ago that their business model was increasing risk to shareholders and I hoped they would listen. But No!
alpal2
07/12/2018
07:46
Agreed. And same day as: "On a normalised basis, this represents approximately a 15.7 per cent deterioration in the Ordinary Share 2017 annual performance and is equivalent to a 2017 NAV return on the Ordinary Shares of approximately -57.1% per cent (down from the -41.4 per cent reported at year-end). " So another massive provision for historic losses, with California wildfires etc still to come. And new business will be little better underwritten.
spectoacc
07/12/2018
07:12
This looks ominous, and I can't find much to help clarify what it's talking about! https://www.investegate.co.uk/catco-re-ins-opps-fd--cat-/rns/announcement-regarding-markel-catco/201812070700057534J/
jonwig
23/11/2018
07:42
Yes, I think the model is bust. It was based on the fact that since 2006, hurricane seasons were quiet, and then since 2008 institutions wanted uncorrelated assets such as cat bonds, etc. On the back of this, CAT produced some excellent returns for several years, most of them distributed. Like all good things it came to an end with Harvey last year, and then a lot more. The argument that premiums will rise to reflect risk probably won't stand up, simply because ordinary folk won't be able to afford them. Not many parts of the world do actually insure and reinsure against natural disasters. (US, Europe, Japan - not China, India.) As I said earlier, I sold out after Florence in September.
jonwig
23/11/2018
06:56
@return - unfortunately that's the same view that has destroyed a lot of value for the C-shares. Note also that CAT.L have admitted to yet more necessary write-downs for the historic stuff, not even just the California fires. It's a business model that is bust.
spectoacc
22/11/2018
19:00
Premiums will rise following the events listed on this thread so if next yr is trouble free these could be very rewarding - perhaps a punt from Jan to June is worth the odds I am not invested here currently, just my thoughts
return_of_the_apeman
22/11/2018
18:12
Yes, what a disaster this stock has been. They seem to be on the wrong end of multiple 1 in 200 year events! I’m starting to get to the conclusion that their risk modelling is poor.
topvest
22/11/2018
18:03
Said it before - this share is like taking a losing bet against global warming. I've long thought that the time when climate change is taken seriously will be when it becomes prohibitive to insure anything against large scale weather-related events, and houses along coastlines become uninsurable. Bearing in mind the world population is set to double this century, and those enjoying a western lifestyle set to quintuple, that's a lot of assets and infrastructure in harm's way, doubt the insurance industry can match it with a working model as time goes by.
danieldruff2
22/11/2018
07:35
Posts 217-219 above. At least the Ord shares got 7 years of good returns before getting tonked! The C's aren't even getting to enjoy that. 22 November 2018 To: SFS, London Stock Exchange and Bermuda Stock Exchange NET ASSET VALUE ("NAV") AND PORTFOLIO UPDATE Markel CATCo Investment Management Ltd., as Investment Manager, announces the unaudited net asset value of the Company's Ordinary Shares and C Shares of $0.6969 and $1.0502 respectively, as at the close of business on 31 October 2018. The NAV is inclusive of an attritional loss reserve of approximately 15 bps per month (year-to-date: 1.5%). The Company's Ordinary Shareholders and C Shareholders are exposed to potential losses arising from the 2018 events Hurricane Michael and Typhoon Jebi. The Manager has implemented a specific loss reserve for these events resulting in a 3.7% impact to the Ordinary Share NAV and 9.8% impact to the C Share NAV as of 31 October 2018. Information pertaining to the private insurance industry loss impact is still developing for these events and cedant loss notifications are not yet available, meaning reserves have been based on early industry estimates. As such, it is possible for the impact of these events to change materially following the availabilty of formal cedant loss notifications. The Manager is also monitoring the California Widlfire events, notably the Camp and Woolsey (Malibu) fires, which began in early November. The fires have now become the most destructive in California's history. Based on early assessments of the industry loss potential due to the fires, it appears a material loss to the portfolio is likely in an amount that could exceed the impact of the 2017 California Wildfire events (2017: c.17%). The estimated impact to Ordinary Shareholders and C Shareholders will be determined after the fires are fully contained and further industry information has been made available. In addition, the Company's Ordinary Shareholders continue to be exposed to losses arising from 2017 major events. Since the reserve provisions made in April 2018 for 2017 events, the insurance market has continued to report further loss deterioration. In addition, the industry loss estimates for the 2017 events have increased at least 9% over estimates reported in April 2018. As a result, further reserve strengthening is likely to be necessary. An assessment of Q3 cedant loss information is currently underway and an announcement of the estimated portfolio impact will be made prior to the release of the 30 November 2018 NAV.
spectoacc
12/11/2018
14:12
Bad fires in California eh - who'd bet against another "200 year event". Muppets.
spectoacc
26/9/2018
07:51
Those d buys (& a million shares of buyback) seem to have perked it back up. The buyback seems to imply there's nothing to report in terms of excess losses (yet, of course).
spectoacc
24/9/2018
13:59
C shares are invested in current year events - I'd be surprised if they weren't involved. (Incidentally, I sold when Flo appeared.)
jonwig
24/9/2018
13:57
jonwig: ".. only one way forward for me." You're too kind nominating me to be a director. But I did tell management each time they increased capital that logic says one can't deploy ever increasing amounts of capital without increasing the risk profile. And I did tell them "...told you so!" after the 2017 losses. Management says it targets a 16% return but hasn't achieved this in many years even if I was soft enough to overlook the exceptional nature of losses in 2017.
alpal2
24/9/2018
13:48
Directors ought to have some idea of Florence losses or if covered by provisions. Or at least include in NAV RNS a statement "….we haven't a clue...." Do we know if C shares would be liable for share of 'Florence' losses?
alpal2
Chat Pages: 52  51  50  49  48  47  46  45  44  43  42  41  Older
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