CATCo Reinsurance Opps Fund Ltd Net Asset Value(s) (3640Y)

TIDMCAT

RNS Number : 3640Y

CATCo Reinsurance Opps Fund Ltd

16 May 2016

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

Net Asset Value and Portfolio Update

 
 To: SFM, London Stock   Date: 16 May 2016 
  Exchange and Bermuda 
  Stock Exchange

Markel CATCo Investment Management Ltd., as Investment Manager, announces the unaudited net asset value of the Company's Ordinary Shares and C Shares of $1.2540 and $1.0107 respectively, as at the close of business on 30 April 2016.

The Investment Manager is monitoring the ongoing Canadian wildfires and believes any possible negative impact on the portfolio will be absorbed by the attritional loss reserve (equal to 15bps per month).

As no separate loss reserve provision is currently believed to be necessary the Investment Manager does not expect any further negative NAV impact.

The monthly attritional loss reserve of c.15bps was first included in the January 2016 NAV to offset a possible concentration of losses impacting the NAV towards the end of the year resulting from a loss reporting lag. Any excess attritional loss reserve will be reversed in December.

 
 
 
   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: mark.way@markelcatco.com 
 Numis Securities Limited 
  David Benda / Hugh Jonathan 
  Telephone: +44 (0) 20 7260 1000

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This information is provided by RNS

The company news service from the London Stock Exchange

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