Net Asset Value(s)

RNS Number : 8074A

CATCo Reinsurance Opps Fund Ltd

07 February 2022

 

FOR IMMEDIATE RELEASE

7 February 2022

CATCo Reinsurance Opportunities Fund Ltd. (the "Company")

Net Asset Value

To: SFS, London Stock Exchange and Bermuda Stock Exchange
 

December 2021 Net Asset Values

Markel CATCo Investment Management Ltd., the Company's Investment Manager, announces the unaudited Net Asset Value ("NAV") of the Company's Ordinary Shares and C Shares of $0.3389 and $0.6750 respectively, as at the close of business on 31 December 2021.

The monthly improvement in the Ordinary and C Shares (5% and 7% respectively) is due to favourable development on the loss reserves related to the 2017 and 2018 catastrophe events, marginally offset by some additional costs associated with the Scheme of Arrangement which was announced to investors on Friday, 4 February 2022.

Investors are reminded that under the new terms of the Scheme of Arrangement, if the necessary approvals are obtained then the additional costs will be covered by a further contribution from Markel Corporation at the closing of the Scheme of Arrangement.

For further information:
Markel CATCo Investment Management Ltd. Judith Wynne General Counsel Telephone: [phone] Email: [e-mail] Mark Way Chief of Investor Marketing Telephone: [phone] Email: [e-mail]	Numis Securities Limited David Benda / Hugh Jonathan Telephone: [phone]

 

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