Markel CATCo Investment Management News

Markel Internal Review Finds ‘No Bad Faith’ Related to Loss Reserves Under Investigation

Markel Corp. said that an internal review conducted by outside counsel found “no evidence that personnel of its CATCo unit acted in bad faith in exercising business judgment in the setting of reserves and making related disclosures during late 2017 …

2 CATCo Executives Sue Markel Over Firing; Claim They Are Owed $77 Million

Two fired executives of Markel’s Bermuda reinsurance operations are suing Markel claiming the company created a false narrative alleging they violated corporate policy by having a personal relationship in order to escape having to pay them bonuses worth millions of …

2 Markel CATCo Execs Leave After Reserves Inquiry Unveils ‘Personal Relationship’

Markel Corp. has reported that Anthony Belisle, Markel CATCo chief executive officer, and Alissa Fredricks, Markel CATCo chief executive officer for Bermuda, are no longer with the company following the disclosure of a “personal relationship” that the insurer said violated …

Markel Faces Investor Lawsuit Over CATCo Loss Reserves

Markel Corp. is facing is class action shareholder lawsuit over reserve statements by its investment management unit that are being investigated by U.S. and Bermuda authorities New York law firm Bragar Eagel & Squire said it filed the class action …

Markel CATCo Reports U.S., Bermuda Inquiries into Reserves

On Friday Dec .7, Markel Corp. said it was fully cooperating with inquiries by U.S. and Bermuda authorities into loss reserves recorded in late 2017 and early 2018 at Markel CATCo Investment Management Ltd., the company’s investment manager, and its …

Natural Disasters Begin to Hit Profits of Global Reinsurers

A profit warning from one of the world’s largest reinsurers is the latest sign that the death and destruction from a spate of hurricanes and earthquakes in North America are now taking a toll on the titans of global finance. …