CATCo Reinsurance Opps Fund Ltd CATCo launches traditional reinsurance fund
17 March 2014 - 11:32PM
RNS Non-Regulatory
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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