Bermuda-based CATCo Reinsurance Opportunities Fund grew modestly over 2012, recording a net asset value of $353.8 million at year end.The firm, a Class 3 Bermuda reinsurance company launched in 2010, grew their portfolio up from $339.8m in 2011.Shareholders without exposure to the 2011 New Zealand and Japan earthquakes (previously C Share investors) achieved a total return of 7.06 percent for the year.So far in 2013, CATCo has deployed more than $2 billion of collateralised retrocession reinsurance capacity. Additionally the CATCo Diversified Fund and other segregated accounts received new investments of approximately $330 million, which was deployed at the first of year.“This is a significant milestone for the group after two years of operation and demonstrates the demand the industry already has for the type of products the group offers in a relatively short period of time,” said chairman Nigel Barton.On January 9, CATCo’s Board of Directors indicated their intention to pay an annual dividend of $0.05006 in respect of the ordinary shares.