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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% | 25.00 | 14.00 | 36.00 | 25.00 | 25.00 | 25.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Unit Inv Tr, Closed-end Mgmt | 6.33M | 5.44M | 3.6440 | 6.86 | 37.33M |
TIDMCAT
CATCo Reinsurance Opps Fund Ltd
17 March 2014
17 March 2014
PRESS RELEASE
CATCo launches its first traditional reinsurance strategy
CATCo Investment Management Ltd ("CATCo" or "the Company"), the Bermuda-based specialist insurance linked securities manager and advisors to the CATCo Group of Companies, announces the expansion of its investment product range to include the firm's first dedicated traditional reinsurance investment strategy, the Aquilo Fund ("Aquilo").
Managed by Tony Belisle, and co-managed by Charlie Vaughan and Rick Montgomerie, who recently joined CATCo as Directors of Underwriting, Aquilo will seek capital return over the short term, with an emphasis on the traditional reinsurance sector. The Fund will be exposed to traditional global reinsurance risk, insurance-linked securities (such as notes, swaps and other derivatives), and other financial instruments.
Aquilo, approved by the Bermuda Monetary Authority, will launch with initial capital of $110 million, with planned growth for 2015 to $250 million, and is CATCo's sixth fund launch since inception. The Aquilo focus will be on providing catastrophic protections to the underserved small to mid-sized global insurance community.
CATCo manages in excess of $2.5 billion, and in just three years has generated a market share of approximately 20 percent of the retrocessional market and built a strong brand presence.
Tony Belisle, Chief Executive Officer of CATCo Investment Management Ltd., said:
"Within the CATCo Group of Companies there is a growing suite of products individually tailored to meet the different investment criteria for both CATCo's existing and potential investors."
"CATCo has a reputation for developing innovative solutions for its clients and we look forward to bringing our increasingly diversified investment strategies to the traditional reinsurance sector."
'Ends'
For further information, please contact:
Mark Way
Corporate Communications Director
CATCo Investment Management Ltd
Telephone: +44 7786 116991
mark.way@catcoim.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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