TIDMCAT

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.  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 of Investor Marketing 
 Telephone: +1 441 493 9001 
 Email: mark.way@markelcatco.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NAVUPUWPPUPPPWC

(END) Dow Jones Newswires

February 07, 2022 01:59 ET (06:59 GMT)

Catco Reinsurance Opport... (LSE:CAT)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Catco Reinsurance Opport... Charts.
Catco Reinsurance Opport... (LSE:CAT)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Catco Reinsurance Opport... Charts.