Reinsurance fund raises $543m of equity in wake of hurricanes

Markel CatCo Reinsurance Opportunities Fund has raised $543m of equity capital to expand its offering, after a busy Atlantic hurricane season has increased demand for insurance-linked securities (ILS) products.

  • By Sam Kerr
  • 29 Nov 2017

Numis Securities was bookrunner on the deal, which more than doubled the fund's capital.

The London-listed fund recieved applications and commitments for 543m new 'C' shares at $1 a share. That is a 4% discount to the last trade before announcement, which had been $1.04.

According to Dealogic the ...

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