18th Feb 2014 16:18
LONDON (Alliance News) - CATCo Reinsurance Opportunities Fund Ltd Tuesday reported an increase in its net asset value and share price total return for 2013.
For the financial year ended December 31, the company reported net asset value growth of 21.9%, and share price total return of 24.34%, driven by a strong financial performance from its investment portfolio.
The fund said it was a relatively benign year for catastrophe insurance, with the largest insured catastrophe losses in 2013 from events outside of the US. At approximately USD45 billion, property catastrophe reinsurance industry losses for the year were well below average in comparison with the previous decade, it said.
In 2013, the company paid an annual dividend of USD0.05737 per share to shareholders.
Shares in CATCo last traded at USD1.05 per share Tuesday afternoon, down 0.4%.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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