Investment Trusts

CATCo Reinsurance Opportunities Fund Ltd


CATCo Reinsurance Opportunities Fund Ltd

  • Price (USD)0.265
  • Today's Change0.00 / 0.00%
  • Shares traded3.90k
  • 1 Year change+17.71%
  • Beta0.5623
Data delayed at least 20 minutes, as of Oct 12 2021 15:40 BST.
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About the company

CATCo Reinsurance Opportunities Fund Ltd. (the Fund) is a closed-ended fund. The Company is organized as a feeder fund and focuses on investing all of its investment proceeds directly in the CATCo Diversified Fund (the Master Fund). The investment objective of the Fund is to give its shareholders the opportunity to participate in the returns from investments linked to catastrophe reinsurance risks, principally by investing in fully collateralized reinsurance contracts but also through a range of insurance-based investments, including insurance-linked swaps and industry loss warranties, insurance-linked securities, as well as other financial instruments. It will target an internal rate of return in excess of LIBOR plus 12% to 15% per annum, including a distribution by way of dividend in respect of each fiscal year, of an amount equal to LIBOR plus 5% of the net asset value at the end of each fiscal year. Markel CATCo Investment Management Ltd. is the investment manager of the Fund.

  • Revenue in USD (TTM)14.25k
  • Net income in USD8.04m
  • Incorporated2010
  • Employees0.00
  • Location
    CATCo Reinsurance Opportunities Fund Ltd10th Floor East, 141 Front StreetHAMILTON HM19BermudaBMU
  • Phone+1 4 415312227
  • Website
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Management group(s)--
AIC sectorInsurance & Reinsurance Strategies
Launch date20 Dec 2010
Share typeOrdinary Share
Base currencyUSD


To provide investors with significant capital returns and long-term distributions by making investments linked to catastrophe reinsurance risks via a variety of insurance-based investments. The Master Fund spreads investment risk by seeking exposure to multiple non-correlated risk categories so as to endeavour to limit the amount of capital at risk with respect to a single catastrophic event.

Managed by

Tony Belisle, Michael Toyer, Ly Lam, Mark Way, Lindsay Watson

Management & contract fees

Management fee of 0.75% p.a. of NAV of the Master Fund and a performance fee of 10% of gains, subject to a high water mark methodology and provided that a certain level of performance is met.

Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
(YOY change %)
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
(5 yr growth rate)
Downing Four VCT PLC7.01m5.65m72.43m--2.160.1839--10.330.04170.04170.05180.48950.1093--8.14--8.80-4.858.92-4.9183.83--80.57----------144.223.24130.059.36----
Allied Minds PLC589.09k-37.58m74.35m31.00--1.21--126.21-0.1125-0.11250.00180.18650.0063--0.113513,773.10-44.98-19.81-50.86-34.4760.616.85-7,172.16-1,218.75---0.34470.0753---82.17-31.99-203.29---52.45--
Jupiter Green Investment Trust Plc25.73m24.57m74.52m0.002.760.9448--2.900.91350.91350.95382.670.4284------40.9212.5141.4712.5998.1694.4595.5187.30----0.006.341,135.89--819.22-----0.3096
Albion Venture Capital Trust PLC12.38m9.88m76.71m0.007.500.7453--6.190.07270.07270.09030.73130.124--9.90--9.896.469.996.5284.9979.1679.7571.49------108.63534.2010.54281.6312.26---6.52
Riverstone Credit Opprtnts Incm PLC9.77m7.57m79.42m--10.860.8383--8.130.07990.07990.10391.030.101--4.11--7.83--7.87--97.04--77.50----7.840.00--117.59--121.81------
Gulf Investment Fund PLC41.85m39.66m79.67m0.003.270.9799--1.900.52670.52670.56151.760.406--29.28--38.488.6438.728.8697.5291.0194.7882.36----0.0027.68806.38--587.20----6.42
Maven Income & Growth VCT PLC2.86m1.24m79.69m0.0043.310.9546--27.890.00980.00980.02250.44420.0495--5.46--
NB Distressed Debt Investment Fund Ltd5.45m25.40m82.64m0.003.980.8176--15.160.18720.18720.04030.91120.0428--3.04--19.93-2.1122.02-2.1576.7651.54465.86-64.90----0.00---40.17-25.69-302.99------
Jupiter Emerging&Frontier Income Tr PLC47.28m44.79m82.70m--2.670.9372--1.750.3750.3750.39521.070.377--24.57--35.71--40.79--98.16--94.74----186.700.00---165.58---198.83------
CATCo Reinsurance Opportunities Fund Ltd14.25k8.04m85.34m0.007.320.6768--5,988.960.03620.03620.000070.39160.00008--0.0018--4.59-22.914.60-22.93-17,846.60-422.8056,401.12-6,135.81----0.00---84.00114.62101.87-48.39----
Momentum Multi-Asset Value Trust PLC35.55m33.91m86.39m0.003.011.00--2.430.62870.62870.63161.890.3525--31.29--33.616.6137.777.3097.4788.7195.3781.01----0.095154.20242.5378.73226.23130.10--2.53
Gresham House Strategic PLC28.41m22.92m87.41m0.003.811.21--3.084.774.775.9215.080.4444--112.84--35.8515.5937.0916.0688.86--80.67101.29----0.0010.84540.6838.61369.06129.31----
Maven Income and Growth VCT 5 PLC14.11m12.06m88.44m0.005.770.9444--6.270.0630.0630.07580.38540.1827--29.76--15.623.8515.663.8988.5967.1385.5054.53----0.00--20.24-15.1226.40-28.41----
Aberdeen New Thai Investment Trust PLC2.73m749.17k90.21m0.00112.860.808--33.040.03620.03620.12095.060.0211--4.05--0.5783.250.64883.4762.6680.3327.4465.92----0.109273.11113.18--103.21----17.45
Geiger Counter Ltd30.89m29.93m92.51m0.002.731.88--2.990.23590.23590.24640.34241.01------97.800.6438106.070.79398.6064.3896.8815.01--868.720.02420.00128.73--110.81------
Tern PLC1.98m-78.71k94.60m7.00--2.77--47.840.000.000.00450.07050.0657--4.84204,734.30-0.26154.63-0.26414.70-----3.9837.29----0.00--412.2956.83202.98------
Data as of Oct 12 2021. Currency figures normalised to CATCo Reinsurance Opportunities Fund Ltd's reporting currency: US Dollar USD

Institutional shareholders

70.96%Per cent of shares held by top holders
HolderShares% Held
Almitas Capital LLCas of 08 Jun 202130.73m20.58%
Weiss Asset Management LPas of 07 Sep 202119.73m13.22%
Baillie Gifford & of 30 Jun 202116.27m10.89%
Quilter Investors of 03 Mar 202113.77m9.22%
Schroder & Co. of 14 Oct 20207.34m4.92%
Aberdeen Asset Managers of 31 May 20215.68m3.81%
Aberdeen Asset Investments of 30 Sep 20215.59m3.74%
Aberdeen Standard Investments (Asia) of 31 May 20213.88m2.60%
Premier Fund Managers of 31 Mar 20212.16m1.45%
CG Asset Management of 30 Sep 2021799.71k0.54%
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Data from 30 Jun 2021 - 04 Oct 2021Source: FactSet Research Systems Inc.
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