Markel CATCo To Wind Down Markel CATCo Reinsurance Fund

HAMILTON, Bermuda, July 25, 2019 /PRNewswire/ -- Markel CATCo Investment Management Ltd. ("Markel CATCo") today announced it will cease accepting new investments in Markel CATCo Reinsurance Fund Ltd. ("MCRF") and will not write any new business going forward through Markel CATCo Re Ltd ("MCRe").  Markel CATCo will commence the orderly run-off of MCRe's existing portfolio, which is expected to take approximately three years. As part of this run-off, MCRF will return capital to its investors, including the CATCo Reinsurance Opportunities Fund, as such capital becomes available, which will continue to be subject to side pockets.

Markel Corporation, Markel CATCo's parent corporation, also announced today that it intends to launch a new retrocessional Insurance Linked Securities (ILS) fund platform ahead of the 2020 renewal period, with more information available in a separate press release issued today.

About Markel CATCo
Markel CATCo creates and manages a series of innovative insurance-linked investment funds which provide its investors the opportunity to participate in a selected mix of catastrophe reinsurance risks accessed through its reinsurance company, MCRe.  The funds are diversified across a number of risk categories to limit the capital exposed to a single event, and are uncorrelated to traditional asset classes. The structure of the funds provides its reinsurance purchasers significant underwriting capacity and claims paying capabilities. Markel CATCo is headquartered in Hamilton, Bermuda and is authorized and regulated by the Bermuda Monetary Authority.

Disclaimer
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Markel CATCo's beliefs, plans or expectations, are forward-looking statements. These statements are based on Markel CATCo's current plans, estimates and expectations. There are risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by such statements.  Markel CATCo assumes no obligation to update this release (including any forward-looking statements herein) as a result of new information, developments, or otherwise. This release speaks only as of the date issued.

For investor inquiries contact:
Mark Way
Markel CATCo Investment Management Ltd.
441-493-9001

For media inquiries contact:
Gladstone Place Partners
Lauren Odell / Patricia Figueroa
212-230-5930

SOURCE Markel CATCo Investment Management Ltd.

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