Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

24 February 2018

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‘Floating’ pillars add to Markel Catco fire hit

9 February 2018

Markel Catco's "eye-catching" hike to its wildfire loss reserves in its December monthly report implies that the Californian disasters triggered the firm's "floating back-up" pillars, according to a Numis analyst's note.

The analyst explained that Markel Catco had stated its maximum exposure to US wildfires would be 14 percent of net asset value (NAV), but ultimately the retro manager recorded a 4.4 percent write-down in its November monthly result before adding another 14.4 percent markdown in December due to the...

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