Catco seeks more funds for mid-year renewals
Start-up collateralised reinsurer Catco is raising more money to invest in the upcoming mid-year renewal season and says it does not expect any losses on 2011 catastrophes to date.
Claims reserves on the Australian, New Zealand and Japanese catastrophe losses are below deductibles that would trigger a payout by Catco at present, the firm said in a statement.
Catco recently raised $7.4mn from a new share issue and is planning another share issue to bring in extra capital. It is...
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