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

24 March 2018

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Markel Catco’s 2017 side pockets hit 66% of NAV

12 March 2018

Markel Catco said that it had to create larger side pockets for its 2017 portfolio than in any previous year, as two-thirds of its year-end asset base was tied up pending loss development.

The retro manager said it had created side pockets worth 65.9 percent of net asset value (NAV) at 31 December 2017 for its London-listed Reinsurance Opportunities Fund, compared to historic side pocket levels of 5 to 15 percent of NAV.

This appears to have deteriorated since its...

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