CatCo sees no Irene impact – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

CatCo sees no Irene impact

Bermuda-based reinsurance opportunities fund CatCo Investment Management Ltd does not expect to incur any impact from Hurricane Irene if total losses from the storm are within the range of catastrophe modellers’ preliminary estimates.

In a statement issued through the stock exchanges in London and Bermuda yesterday, CatCo said: “Whilst it is too early for the industry, and indeed CatCo Investment Management Ltd, to confirm a definitive magnitude of retrocessional insured loss, early estimates from risk modelling firms Eqecat, Kinetic Analysis and AIR Worldwide suggest that maximum insured losses range from $1.5 billion to $6 billion.

“Assuming actual insurance losses achieved the upper level of this range, there would be no expected impact to the company’s portfolio.”

You must be Registered or to post comment or to vote.

Published August 31, 2011 at 10:46 am (Updated August 31, 2011 at 10:46 am)

CatCo sees no Irene impact

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon