CATCo considers raising capital for January 2016 portfolio

Bermuda-based CATCo Investment Management has announced it may seek to raise new capital for its listed Reinsurance Opportunities Fund.

The firm said it is “considering fundraising options for investment into the January 2016 portfolio” as a result of consultations with certain existing shareholders.

CatCo believes it is “appropriately positioned” to continue to deliver attractive returns through its focused strategy.

It said that following meetings held by the managing with “a number of existing and potentially new clients of CatCo-Re” (through which the company indirectly invests in fully collateralised reinsurance contracts), interest levels in the reinsurers retrocessional protections have been “seen to be much greater than that experienced in prior years”.

CATCo will make a further announcement about the reinsurance fund in due course.