News
- Home
- Investment Company News
- CatCo updates on 2018 portfolio and aftermath of 2017
CatCo updates on 2018 portfolio and aftermath of 2017 – CatCo Reinsurance Opportunities has published its forecasts for 2018 and updated investors on the outcome for 2017 where just 35% of ordinary shareholders’ capital is available for reinvestment in the new portfolio (the rest having been distributed, paid in reinsurance claims or tied up in side pockets).
2017 NAV return for the ordinary shares was -27.6 percent.
Loss reserves were implemented in an amount as a percent of 1 January 2017 NAV as follows:
The total Side Pocket Investments held at 31 December 2017 by calendar year of underwriting are as follows as a percentage of the company’s 1 January 2017 NAV:
The 2017 annual dividend was announced on 31 January 2018. Annual dividends of $0.05476 in respect of each of the Ordinary shares will go ex-dividend on 8 February 2018. It is expected that this dividend will be paid to Ordinary shareholders on 26 February 2018.
After reflecting 2017 side pockets and loss reserves, the ordinary shares, post dividend, will have just c. 35 percent of NAV available for reinvestment in the 2018 portfolio.
Since inception (incl. the aforementioned dividend), the company has returned capital of $234m to ordinary and C share investors by way of dividends and return of value distributions. The original ordinary shareholders from December 2010 have received approximately 75% of their original investment through such distributions.
CAT / CATC : CatCo updates on 2018 portfolio and aftermath of 2017
Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.
Due to data protection policies, USA residents can not access our data.
Your content has been curated