CATCo commutes Costa Concordia reinsurance losses

Artemis.bm (blog)
CATCo Investment Management, the specialist Bermuda based reinsurance-linked investment business that manages around $2 billion of retrocessional reinsurance portfolios for its clients, has commuted a portion of its losses from the Costa Concordia marine disaster according to a stock exchange announcement. Commuting the losses early allows them to be accounted for now and reduces the chance for loss creep affecting the CATCo Reinsurance Opportunities Fund investors.
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