17 March 2014ILS

CATCo launches fund focused on traditional reinsurance

Insurance investment manager, CATCo has launched Aquilo, a fund that will be the firm’s first pursuing a traditional reinsurance investment strategy.

The fund will offer investors exposure to global reinsurance risk, insurance-linked securities and other financial instruments and will have a short-term focus on returns, says CATCO. The fund will focus on the underserved small-to-medium-sized insurance market.

Aquillo will be working with an initial $110 million of capital, with plans to grow to $250 million by 2015. Aquilo is the sixth fund to have been launched by CATCo since the company’s inception.

The Bermuda-based fund will be managed by Tony Belisle, CEO of CATCo Investment Management and will be co-managed by Charlie Vaughan and Rick Montgomerie, who recently joined CATCo as directors of underwriting.

Commenting on the new fund, Belisle says:“Within the CATCo Group of Companies there is a growing suite of products individually tailored to meet the different investment criteria for both CATCo’s existing and potential investors.”

“CATCo has a reputation for developing innovative solutions for its clients and we look forward to bringing our increasingly diversified investment strategies to the traditional reinsurance sector.”

CATCo manages in excess of $2.5 billion of assets under management.