ILS fund managers count cost of hurricanes

Insurance-linked securities (ILS) fund manager Markel Catco has
warned that combined losses from hurricanes Harvey and Irma have
the potential to fully erode its annual returns "or more"
for 2017.
The manager has reserved for a 6 percent reduction in net asset
value following Harvey, but has not factored in Irma claims
yet.
It said it was monitoring Harvey and would reassess whether it
needed to alter the reserve for this event in its September
month-end valuation.
Markel Catco had...