Markel CATCo Investment Management Ltd. will cease accepting new investments in Markel CATCo Reinsurance Fund Ltd. (“MCRF”) and will not write any new business going forward through Markel CATCo Re Ltd (“MCRe”).
Markel CATCo said that it will commence an orderly run-off of MCRe's existing portfolio, which is expected to take approximately three years. Markel CATCo added that, as part of this run-off, MCRF will return capital to its investors, including the CATCo Reinsurance Opportunities Fund, as such capital becomes available, which will continue to be subject to side pockets.
Markel CATCo creates and manages a series of insurance-linked investment funds that provide investors the opportunity to participate in a selected mix of catastrophe reinsurance risks accessed through its reinsurance company, MCRe. The funds are diversified across a number of risk categories and are uncorrelated to traditional asset classes.
Markel CATCo is headquartered in Hamilton, Bermuda and is authorized and regulated by the Bermuda Monetary Authority.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].