REG - CATCo Re-ins Opps Fd - Net Asset Value(s)

CATCo Reinsurance Opportunities FundAnnouncement

07/06/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220607:nRSG9092Na&default-theme=true

RNS Number : 9092N  CATCo Reinsurance Opps Fund Ltd  07 June 2022

7 June 2022

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

Net Asset Value and Portfolio Update

 

 

To: SFS, London Stock Exchange and Bermuda Stock Exchange

February 2022 Net Asset Values

Markel CATCo Investment Management Ltd., the Company's Investment Manager,
announces the following unaudited Net Asset Value ("NAV") of the Company's
Ordinary Shares and C Shares as at the close of business on 28 February 2022.

 

Ordinary Shares

 

·    Total NAV (USD): $53,534,038

·    NAV per Share of $0.3586 (based on the number of Ordinary Shares in
issue as at 28 February 2022)

·   Adjusted NAV per Share of $1.2097 (based on the number of Ordinary
Shares in issue post the partial compulsory redemption of shares, as announced
on 7(th) April 2022)

 

The c. 6% increase in the February NAV per Share was due to (i) contributions
related to the buyout transaction representing c. 4.7% and (ii) favourable
loss reserve development of c. 1.3% in relation to the Side Pocket Investment
from the 2019 underwriting year.

 

The adjusted Ordinary Share NAV (after taking into account the April 2022
partial compulsory redemption) consists of approximately $1.1m of cash on hand
and approximately $0.7m of investments held in Side Pocket Investments.

 

C Shares

 

·    Total NAV (USD): $60,876,593

·    NAV per Share of $0.7314 (based on the number of C Shares in issue as
at 28 February 2022)

·    Adjusted NAV per Share of $8.4335 (based on the number of C Shares in
issue post the partial compulsory redemption of shares as announced on 7(th)
April 2022)

 

The c. 8.6% increase in the February NAV per Share was due to (i)
contributions related to the buyout transaction representing c. 3.6% and (ii)
favourable loss reserve development of c. 5% in relation to the Side Pocket
Investment from the 2019 underwriting year.

 

The adjusted C Share NAV (after taking into account the April 2022 partial
compulsory redemption) consists of approximately $4.2m of cash on hand and
approximately $2.8m of investments held in Side Pocket Investments.

 

 

 

 

 For further information:
 Markel CATCo Investment Management Ltd.  Numis Securities Limited

 Judith Wynne                             David Benda / Hugh Jonathan

 General Counsel                          Telephone: +44 (0) 20 7260 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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NAVUPURWQUPPGBQ