We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Catco Reinsurance Opportunities Fund Limited | LSE:CAT | London | Ordinary Share | BMG1961Q3242 | 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% | 24.00 | 13.00 | 35.00 | 24.00 | 24.00 | 24.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Unit Inv Tr, Closed-end Mgmt | 31.88M | 27.12M | 18.1652 | 1.32 | 35.84M |
TIDMCAT
RNS Number : 4058E
CATCo Reinsurance Opps Fund Ltd
18 October 2018
FOR IMMEDIATE RELEASE
18 October 2018
To: SFS, London Stock Exchange and Bermuda Stock Exchange
NET ASSET VALUE ("NAV")
Markel CATCo Investment Management Ltd., as Investment Manager, announces the unaudited net asset value of the Company's Ordinary Shares and C Shares of $0.7174 and $1.1287 respectively, as at the close of business on 30 September 2018.
The Company's Ordinary Shareholders and C Shareholders are exposed to potential losses arising from Hurricane Michael which made landfall in the state of Florida on 10 October 2018. Due to the very recent nature of this event much uncertainty remains at this time with respect to the overall private insurance industry loss impact. Initial industry loss estimates published by catastrophe model vendors suggest a possible range of USD 2 billion to USD 10 billion. Based on this early information, the Manager expects a single digit impact to the NAV for industry insured losses below USD 10 billion. The impact of Hurricane Michael will be assessed further prior to setting the 31 October 2018 NAV.
In addition, the Company's Ordinary Shareholders and C Shareholders are exposed to potential losses arising from Typhoon Jebi which made landfall in Japan on 4 September 2018. Recent insurance market information suggests industry losses are increasing for this event. Based on early information, the Manager expects a low single digit impact to the NAV is possible. The Manager is currently monitoring this event and will determine if a specific loss reserve is required prior to setting the 31 October 2018 NAV.
Other than potential losses arising from Hurricane Michael and Typhoon Jebi, the attritional loss reserve is expected to be sufficient to cover all 2018 loss event occurrences to date (15 bps per month; year-to-date: 135 bps).
For further information: Markel CATCo Investment Management Ltd. Numis Securities Limited David Benda / Hugh Jonathan Judith Wynne Telephone: +44 (0) 20 7260 General Counsel 1000 Telephone: +1 441 493 9005 Email: judith.wynne@markelcatco.com Mark Way Chief of Investor Marketing Telephone: +1 441 493 9001 Email: mark.way@markelcatco.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
NAVBIBDGGSBBGIR
(END) Dow Jones Newswires
October 18, 2018 02:01 ET (06:01 GMT)
1 Year Catco Reinsurance Opport... Chart |
1 Month Catco Reinsurance Opport... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions