CATCo ready to return $35m to investors

Reinsurance and retrocessional reinsurance fund CATCo Reinsurance Opportunities Fund will return $35 million to investors, following a successful year.

This represents approximately 10 percent of the company’s market capitalisation.

CATCo said that the company concluded a successful year with no significant insured losses and saw its net asset value benefitting from approximately $0.14 per share of net insurance premiums earned over the full year.

The fund deployed collateralised retrocession reinsurance capacity at rates in excess of the company's target returns.