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26 Jul 2019 | 10:02

Catco to return proceeds from wind down of reinsurance fund to shareholders

CATCo Reinsurance Opportunities Fund said would return proceeds to shareholders from the wind down of its reinsurance fund.

The update comes after Markel CATCo Investment Management announced it would cease accepting new investments in Markel CATCo Reinsurance Fund and would not write any new business going forward through the fund

Markel CATCo said it would commence the orderly run-off of MCRe's existing portfolio, which is expected to take approximately three years.

As part of this run-off, the reinsurance fund would return capital to its investors, including the CATCo Reinsurance Opportunities Fund.

At 10:02am: (LON:CAT) CATCo Reinsurance Opps Fund Ltd share price was +0.01p at 0.15p

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