Catco Reinsurance Opport... Share Discussion Threads

[deepvalueinvestor] 09/3/2014 17:58

True but low correlation and performance over last year has been fine. Polar cap global insurance is probably the one I would buy now but happy with long term hold of these.

[topvest] 09/3/2014 16:18

CATCo's return of capital was a real pain for me. The $ receipt wasn't accepted into my CREST account and I had to ring up to get a cheque issued. After banking costs and the $ movement this capital return was actually at a loss of approaching 10% of cost. Getting really painful on the £/$ rate at the moment!

[jaws6] 15/1/2014 14:48

jonwig
Good link.Thanks.
NAV not sure why up.

[jonwig] 15/1/2014 14:29

This article confirms earlier ones, that returns are weakening in the CAT sphere, hence the return of capital:



If anyone can't access it, I'll summarise.

I'm a bit puzzled by the 2013 NAV increases just announced, but won't say more until I've checked.

[jaws6] 15/1/2014 14:18

RNS out on portfolio update

[topvest] 03/1/2014 20:53

Anyone like to estimate what the Dec NAV is likely to be?

[jaws6] 03/1/2014 10:11

plus same 20 c back next year would be extra bonus if comes in 2015.

[jonwig] 03/1/2014 09:57

topvest - agreed, and LIBOR plus 5% could look good in a few years' time.

[topvest] 03/1/2014 08:42

I was thinking of selling my shares, given the surplus capital issues, but I will re-think now. Impressed with their capital discipline, rather than just growing their AUM they are doing the right thing which is to be commended.

[jaws6] 03/1/2014 08:35

ok.Mine is in ISA.
could not buy more today

[jonwig] 03/1/2014 08:19

jaws - won't matter if it's in an ISA. Mine aren't so I'll need to ponder!

[jaws6] 03/1/2014 07:42

jonwig
is it ok in isa ,not expert on that.
Thanks ,will check later with broker.

[jonwig] 03/1/2014 07:25

Return of value, 20c per share:



The income alternative is the simplest to grasp, I think. (Though it doesn't suit HR taxpayers.)

And of course there will be a 'normal' dividend to be announced next week, between 5c and 6c.

[topvest] 06/12/2013 21:08

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.

[jaws6] 06/12/2013 08:08

jonwig
Thanks, will wait for capital distribution in Jan then.

[jonwig] 06/12/2013 07:34

Today:

In the event that there are no significant insured losses in respect of the 2013 investment portfolio, the Board of Directors would like to highlight that they are considering the viability, and the associated mechanics, for an opportunity for Shareholders to receive an additional distribution over and above the annual target dividend equivalent to LIBOR + 5% of net asset value. The exact nature of any such additional distribution, should it be made, has not yet been determined but it may take the form of either an income and/or a capital distribution to existing Shareholders. The Directors will seek to provide further information to Shareholders in early January 2014.

The industry has warned that CAT bonds (and presumably other contracts) are getting over-priced, so it may be a case of returning money to shareholders rather than chase a bubble.

Link to this assertion:

[jonwig] 03/10/2013 18:28

Nope, dan ... lots of storms = NAV attrition = higher rates further down.

Twice I've managed to sell and buy back on the price action. Hence my monitoring - from a safe distance!

It's actually interesting that IRIS and BCGR are quite becalmed. IRIS understandably, but BCGR promises a higher return than CAT.

[danieldruff2] 03/10/2013 18:19

Are you going to worry about every storm this year? This is a share for climate change deniers. There will be no hurricanes and the weather will remain stable forever :-)

[jonwig] 03/10/2013 17:50

Strong-ish today - a quiet season so far, maybe the reason?

But watch Karen - she will if she wants to:

[danieldruff2] 22/9/2013 11:43

The recent weakness of the dollar has been more significant... it's eaten up my profit here...

[jonwig] 22/9/2013 09:01

Typhoon Usagi:



Insured losses "not expected to be significant". But that's dated 20 Sept: things could have changed by now.

[deepvalueinvestor] 31/8/2013 13:58

Lets hope for boring...I remain a buyer

[jonwig] 31/8/2013 07:09

BBC video -

...the recent rainfall in Mali could lead to increased Tropical storm activity across North America and the Caribbean.



Key term; Inter-Tropical Convergence Zone. Can't find any corroborating links as yet.