Belisle extends contract at Markel CATCo

Bermuda-based Markel CATCo, which manages the CATCo Reinsurance Opportunities Fund, has announced that Tony Belisle, the CEO of Markel CATCo Investment Management, is to extend his contract with the company until 31 December 2020.

According to the company, from 2020 onwards his contract with Markel CATCo will continue indefinitely on a rolling annual basis. Belisle’s original contract was due to end on 31 December 2018.

Belisle founded CATCo Investment Management in 2010 and launched CATCo’s “pillared” approach to writing collateralised reinsurance protections. The majority of the assets of the business were subsequently sold to Markel Corporation in December 2015. According to the company under its new ownership Markel CATCo has maintained its reputation as an innovator in the reinsurance sector, and assets under management have grown significantly since the acquisition to approximately $4.5 billion.

“Markel CATCo has been a great addition to the Markel family of companies,” said Richie Whitt, co-CEO of Markel Corporation. “We are committed to the ILS space, growing our presence in Bermuda, helping Markel CATCo expand their product and talent portfolios, and supporting Tony and his team as they continue to deliver for the investors in the CATCo managed funds and for Markel’s shareholders.”

“I have strong confidence in the team in place at Markel CATCo, which has clearly demonstrated its ability to be successful in the current market,” said Belisle. “I am proud of what we have achieved to date and am excited about the further opportunities that lie ahead for the company.”