Most investors in Markel Catco are expected to take up an offer to redeem their shares, as the platform further increased its loss reserves for 2017 events and had its value written down to zero by parent company Markel.
Cat bond prices in the secondary market have begun recovering following a pre-Christmas sell-off, as investors sought to release capital ahead of the renewal, brokers said.
The Merion Square ILS fund launched by Rewire Securities and Vida Capital will have the flexibility to invest in a wide variety of insurance instruments covering risks ranging from natural catastrophe to mortality to cyber, CEO Stefano Sola said.
