Markel Catco

The return of capital in May will largely go to investors in the class C post-2017 class of shares.

Class C investors who entered the retro fund after the 2017 hurricane season made a 1.3% loss for the year, although wildfire subrogation meant a gain for ordinary shares.

Simon Moore has joined Lockton Re as a senior broker in the company’s non-marine retro and property specialty team, based in London.

The manager has extended a fee discount to side-pocketed capital.

Following the sixth compulsory redemption the fund will have returned $271.3mn to shareholders.