Net Asset Value(s)

RNS Number : 5292E

CATCo Reinsurance Opps Fund Ltd

19 July 2016

 

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: [phone] Email: [e-mail]

Mark Way, Chief Operating Officer Telephone: [phone] Email: [e-mail]

Numis Securities Limited David Benda / Hugh Jonathan Telephone: [phone]

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