Markel Catco posts 27.6% loss after reserve boost

The Catco Reinsurance Opportunities Fund missed its expected
result for 2017 after posting a 27.6 percent loss for the year
following claims deterioration from the October wildfires in
California.
The loss comes after fund manager Markel Catco increased its
wildfire reserves by 14.4 percent of net asset value (NAV) in
December, after previously
reserving for just a 4.4 percent impact to NAV.
Markel Catco also increased reserves related to hurricanes
Harvey, Irma and Maria by 3.6 percent of NAV,