Markel
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The retro manager said the ordinary shares in its London-listed Reinsurance Opportunities Fund had gained 0.5 percent in June, trailing the 1.1 percent return from its new share class launched for 2018.
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The retro manager had previously said rising Irma claims would lead to a write-down in the month.
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The retro manager's Irma loss deterioration is on a higher scale than that reported by peers.
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Ever heard the underwriting joke about how to spot the actuary driving a car?
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Shares in the Catco Reinsurance Opportunities fund dropped almost 20 percent in trading on the day it revealed a steep deterioration in 2017 loss estimates.
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Markel has reported that its investment management fees from its unconsolidated funds, which include Markel Catco, increased 84 percent year-on-year in the first quarter of 2018.