CATCo records 14% NAV growth

Insurance investment manager CATCo has posted net asset value (NAV) growth of 14 percent for 2014.

This is despite reserving small aggregate loss reserves amounting to 1 percent of NAV as a result of severe US storm activity in 2014. The NAV appreciation for the period was 14.1 percent ahead of the Eurekahedge Insurance Linked Securities Advisors Index of around 5 percent.

The manager said that it expects a net return of 19 percent in 2015, while its 2015 average risk per pillar decreased to 3.3 percent, helped by the reduced cost of hedging the portfolio.

It added that increased demand for CATCo Re products has led to 100 percent of available capital deployed at January 1, 2015.