CATCo Reinsurance Opps Fund Ltd Net Asset Value(s) (5251L)
20 July 2017 - 4:00PM
UK Regulatory
TIDMCAT
RNS Number : 5251L
CATCo Reinsurance Opps Fund Ltd
20 July 2017
20 July 2017
To: SFM, London Stock Exchange and Bermuda Stock Exchange
NET ASSET VALUE ("NAV")
Markel CATCo Investment Management Ltd., as Investment Manager,
announces the unaudited net asset value of the Company's Ordinary
Shares of $1.2797, as at the close of business on 30 June 2017.
The NAV is inclusive of an attritional loss reserve of
approximately 15bps per month (year-to-date: 90bps).
During the month of June, the Investment Manager commuted part
of the 2016 Side Pocket Investment exposure associated with the
offshore energy loss event at Ghana's Jubilee oil field. The cost
of this commutation, which amounted to approximately 1 percent, was
mainly offset by favourable developments on loss reserves related
to other 2016 events. As a result there was no material impact to
the Company's NAV.
The value of the remaining Jubilee Side Pocket Investment is
equivalent to approximately 3 percent of NAV. There is no Industry
Loss Warranty ("ILW") remaining investment exposure below a $1.75
billion industry loss for the Jubilee event.
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 Operating Officer
Telephone: +1 441 493 9001
Email: http://mark.way@markelcatco.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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