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% $0.54 $0.53 $0.55 $0.54 $0.54 $0.54 16,348 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -8.2 0.0 - 211.50

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
26/9/2018
08:51
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
14:59
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
14:57
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
14:48
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
24/9/2018
14:43
alpal2 - I guess they learned a lesson from last year, when the insured losses were estimated, increased and again. Insurers tend to extrapolate from known history, not from a new extreme. They're just being cautious, I guess! If you think the directors (managers, you mean?) haven't a clue, there's only one way forward for you!
jonwig
24/9/2018
14:17
To be fair, they presumably won't know losses on storm Flo yet. There was quite a bit of buying in the CAT ords (ie non-C) previously, but agree it's interesting that it's now switched back to the C's. My hope is that they're comfortable with loss provisions in spite of storms, and hence are buyers. But fair point about their "once in 200 year" events that seem to come up rather too often.
spectoacc
24/9/2018
13:53
Is it significant that the share buy-back and directors purchases have all been in "C" shares. The discount to disclosed NAV is greater on the ords so logic says they should have bought ords unless [as always] they know something we don't about undisclosed losses coming. I thought the last RNS of NAV was pathetic as it made no mention of losses from storm Florence as an event subsequent to the NAV date. The late disclosure of losses on 2017 storms shows the directors haven't a clue on the re-insurance business [other than how to increase their own management fees].
alpal2
24/9/2018
13:26
A few director buys in the C's, inc 1m today at 98.75c. Always good to see - joined them & doubled holding.
spectoacc
19/9/2018
12:35
In for some C's for the first time, at mid, on £ being a little stronger & it "only" being one event. Not with enormous confidence I admit.
spectoacc
12/9/2018
08:06
Sold out too. Surprised this has not dropped as it looks like a massive one. Safer to be out until it passes.
riverman77
11/9/2018
16:14
Spec - I think both would be exposed to 2018 events. I held CATC.
jonwig
11/9/2018
15:20
Am out of CAT again now but surely the CATC's should be the ones getting knocked back, rather than CAT?
spectoacc
11/9/2018
14:59
Florence looks bad, and it came as a surprise for me. Sold.
jonwig
17/8/2018
18:33
Did Buffett say this...I think not! Berkshire Hathaway didn’t lose their shirt.
topvest
17/8/2018
18:31
Yes, made me laugh as well. If they think last year was in 200 year event, then maybe they need to revisit their models. From a non-technical perspective felt more like 1 in 20 or 1 in 50 year event to me! Doesn’t help their credibility.
topvest
17/8/2018
07:57
Yes, I spotted that, too. All this stuff is based on a Normal distribution model, but the tails are clearly getting fatter through climate change effects. The modellers haven't produced any new models to fit these, as there isn't the statistical data ove enough years. There seems to be a consensus that 2018 will be quiet for US windstorms, as mid-Atlantic has been unusually cool. (Surprising!)
jonwig
17/8/2018
07:20
You just can't make up comments like this: "...It is important to keep the broader context of this truly significant loss year in mind. First, the modeled probability of a c. -40% annual performance was a c.1-in-200 year likelihood with respect to the 2017 portfolio. As the Investment Manager has significantly improved contract terms in 2018, this level of modeled loss is now expected to occur c. 1-in-700 years. " 2017 portfolio was down 41%, in case anyone needs reminding. Reminded very much of the 2008 stockmarket falls bringing down the banks - "Six sigma event/ those falls wouldn't happen in our models even if the universe ran twice".
spectoacc
20/7/2018
15:55
@ Divmad - only BCAI, which I think is planning to go into run-off despite not being hit so hard as CAT.
jonwig
20/7/2018
14:48
Are there any other listed reinsurers that offer attractive valuations and yield, Jonwig? I'm new to this sector but interested in low market beta opportunities around, at very cheap valuations/large discounts to NAV.
divmad
20/7/2018
14:44
Thanks Jonwig. I suppose the legacy claims are containable, or discounted, then, seeing as the Investment Manager has bought a tidy amount of both classes.
divmad
20/7/2018
14:26
@ Divmad - different portfolio exposure! CAT is still exposed to unresolved claims from 2017 windstorms, etc. CATC is clean of such legacy things - new contracts only.
jonwig
20/7/2018
14:17
Why is there a differential between the Ordinary and C Ordinary Depositary Receipts here please?
divmad
19/7/2018
16:15
The (eventual) d buying has done it no harm, & weaker £ hasnt' hurt either. Not sure at what point I'm a seller again.
spectoacc
05/7/2018
16:50
This article says: "The northern hemisphere has been hit by extreme heat over the past two weeks, with record-breaking temperatures recorded in the US, Canada, Europe and the Middle East." Https://www.ft.com/content/693c4666-803e-11e8-bc55-50daf11b720d An accompanying map shows also very high temperatures across north Africa. Hurricanes begin as hot air over the mid-Atlantic and, although there's nothing in the article to say so, I'd have thought we're in the precursor of an active season - began on 1 June. However, consensus suggests otherwise, "a quiet season": Https://eu.usatoday.com/story/news/nation/2018/07/03/hurricane-season-2018-forecast/755215002/ More recent: Http://fortune.com/2018/07/05/2018-hurricane-season-forecast-revision/
jonwig
22/6/2018
14:41
Acquisition of Share Interests by CEO of Investment Manager To: SFS, London Stock Exchange and Bermuda Stock Exchange Tony Belisle, Chief Executive Officer of Markel CATCo Investment Management Ltd., the Company's Investment Manager, purchased 500,000 Depositary Interests in Ordinary Shares of the Company at $0.56 per share, on 21 June 2018. During the period from 16 May 2018 to 21 June 2018, Mr Belisle has purchased, in total, 2,000,000 Depositary Interests in Ordinary Shares of the Company and 500,000 Depositary Interests in C Shares of the Company.
spectoacc
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