19th Jul 2016 07:00
CATCo Reinsurance Opportunities Fund Ltd. ("the Company")
Net Asset Value and Portfolio Update
To: SFM, London Stock Exchange and Bermuda Stock Exchange | Date: 19 July 2016 |
Markel CATCo Investment Management Ltd., as Investment Manager, announces the unaudited net asset value of the Company's Ordinary Shares and C Shares of $1.2631 and $1.0173 respectively, as at the close of business on 30 June 2016.
Following recent discussions with the Company's reinsurance clients regarding losses associated with the Canadian wildfires, the Investment Manager has recorded a specific loss reserve for this event of c.1% of NAV (included in the June NAV).
The Investment Manager will continue to monitor the impact of the Canadian wildfires as information is released but expects any further development to be absorbed by the monthly attritional loss reserve of c.15bps per month.
Markel CATCo Investment Management Ltd. |
Judith Wynne, General Counsel Telephone: +1 441 493 9005 Email: [email protected] |
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Mark Way, Chief Operating Officer Telephone: +1 441 493 9001 Email: [email protected]
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Numis Securities Limited David Benda / Hugh Jonathan Telephone: +44 (0) 20 7260 1000 |
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