Posted on January 11th, 2011 by Prime
HAMILTON, BERMUDA – January 2011 - Prime Management announced today their appointment as administrator to the CATCo Reinsurance Fund Ltd. and the CATCo Reinsurance Opportunities Fund Ltd. (“Opportunities Fund”). Both funds are dedicated vehicles to allow participation by investors in the collateralized reinsurance market. The Opportunities Fund has the added distinction of being the first to be listed on the London Stock Exchange.
The Opportunities Fund, which initially raised $80 million in capital, is intended to offer investors the opportunity to participate in a diversified and fully collateralized portfolio of catastrophic risk with low correlation to traditional asset classes.
“Prime Management’s experience, capability and responsiveness have made Prime the leading provider of fund administration services to the collateralized reinsurance market and the natural choice for CATCo’s new investment companies” stated Jason Bibb, COO & CFO of CATCo Investment Management Ltd.
John Whiley, Head of Prime’s Risk-Linked Investment (RLI) Team, added, “Innovation is at the forefront of the RLI market and we are very pleased to be able to work with CATCo on the launch of this new and exciting product within the RLI market.”
CATCo Investment Management Ltd. is a specialist investment management business based in Bermuda. CATCo manages growing assets in various insurance-based instruments, including insurance-linked and other financial instruments, through collateralized reinsurance funds for clients across Europe, North America, Bermuda and around the world. As an investment boutique CATCo builds concentrated, diversified and fully collateralized portfolios designed to deliver meaningful outperformance with low correlation to traditional asset classes for clients. CATCo blends the best attributes of both large and small investment managers, and our vibrant, entrepreneurial culture means acting quickly to meet the needs of our growing number of clients. For information, visit www.catcoim.com.
Prime has been servicing the specialized requirements of the collateralized reinsurance and RLI market since 2002. The RLI Team is a dedicated, specialized service team within Prime’s main Administrative Services Group. Prime’s team is comprised of professionals focused on the evolving requirements of the industry, with the requisite expertise and training to service the most sophisticated portfolios of risk-linked investments. Prime is a true independent administrator, which is licensed and regulated by the Bermuda Monetary Authority under the Investment Funds Act 2006. For information, visit www.primebermuda.com.
Contact: Fred T Busk III
Phone: (203) 987-5062