Net Asset Value(s) & Management Fee ReductionSource: RNS
FOR IMMEDIATE RELEASE
28 January 2021
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Net Asset Value and Management Fee Reduction
To: SFS, London Stock Exchange and Bermuda Stock Exchange
December 2020 Net Asset Values
Markel CATCo Investment Management Ltd., the Company's Investment Manager, announces the unaudited Net Asset Value ("NAV") of the Company's Ordinary Shares and C Shares of $0.2828 and $0.5071 respectively, as at the close of business on 31 December 2020.
The c.7% increase during December 2020 in the Company's Ordinary Share NAV reflects a reduction in claims associated with the 2017 California wildfires.
Management Fee Reduction
The Investment Manager has agreed to maintain the reduced Management Fee on Side Pocket Investments for the financial year 2021 by 50 per cent of the original fee of 1.5 per cent. This is equal to an annual Management Fee of 0.75 per cent. The Management Fee on Side Pocket Investments will be reviewed again at the end of the current financial year.
For further information:
Markel CATCo Investment Management Ltd.
Telephone: +1 441 493 9005
Chief of Investor Marketing
Telephone: +1 441 493 9001
Numis Securities Limited
David Benda / Hugh Jonathan
Telephone: +44 (0) 20 7260 1000