![](/cdn/assets/images/search/clock.png)
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 | 47 | 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 | 6.59 | 35.84M |
TIDMCAT
RNS Number : 3024U
CATCo Reinsurance Opps Fund Ltd
22 November 2019
FOR IMMEDIATE RELEASE
22 November 2019
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Net Asset Value ("NAV") and Portfolio Update
To: SFS, London Stock Exchange and Bermuda Stock Exchange
Markel CATCo Investment Management Ltd., as the Company's Investment Manager (the "Investment Manager"), announces the unaudited Net Asset Value of the Company's Ordinary Shares and C Shares of $0.2737 and $0.5023 respectively, as at the close of business on 31 October 2019. This includes the dividend announced on 4(th) October 2019.
The NAVs are inclusive of an attritional loss reserve of approximately 15bps per month (year-to-date: 150bps).
The Company previously advised Ordinary Shareholders and C Shareholders about exposure to potential losses arising from Typhoon Hagibis which made landfall in Shizuoka's Izu Peninsula just south-west of Tokyo, Japan on 12 October 2019 as a category 2 storm.
Despite Typhoon Hagibis occurring relatively recently in October 2019 the Investment Manager has implemented a specific loss reserve for this event. The loss reserve recorded for the Ordinary and C Shares represents -6.0 per cent and -9.0 per cent of NAV respectively, as of 31 October 2019.
Information pertaining to the private insurance industry loss impact for Typhoon Hagibis and also for Hurricane Dorian and Typhoon Faxai, which both occurred in September 2019 and were reserved for in the September NAV, is still developing. The loss reserves for these events have been established based on early industry loss estimates and without cedant loss notifications. It is therefore possible that as loss information is received by the Investment Manager the loss reserves may change materially.
The impact to the capital deployed in the 2019 portfolio from the combined loss reserves recorded year to date for Hurricane Dorian, Typhoon Faxai and Typhoon Hagibis is estimated to be approximately 25 per cent.
The Investment Manager will continue to assess the possible need to change the loss reserves for any of the events mentioned in forthcoming NAV calculations as more industry and cedant loss information becomes available.
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
NAVEAFFAAFKNFEF
(END) Dow Jones Newswires
November 22, 2019 02:00 ET (07:00 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