REG - CATCo Re-ins Opps Fd - Net Asset Value(s) <Origin Href="QuoteRef">CATC.L</Origin>

CATCo Reinsurance Opportunities FundAnnouncement

20/07/2017 07:06

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 ofJune, the Investment Managercommutedpart ofthe2016 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 mainlyoffset by favourable developmentson loss reservesrelated toother 2016events. As a result there was no material impact to the Company's NAV.
Thevalue of the remaining JubileeSide Pocket Investment is equivalent to approximately 3 percentof 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.
Judith Wynne
General Counsel
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
Numis Securities Limited
David Benda / Hugh Jonathan
Telephone: +44 (0) 20 7260 1000

This information is provided by RNS
The company news service from the London Stock Exchange
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