Progress in the buyout of investors in the Markel CATCo Investment Management retrocessional reinsurance investment funds is unlikely to be made until next year now, as the investment manager said a court decision is unlikely to come until January 22nd 2022.The investment manager said that a convening hearing in respect of the proposed buyout schemes of arrangement for the Markel CATCo Reinsurance Fund Ltd.and the CATCo Reinsurance Opportunities Fund Ltd.ended this Wednesday.

After the hearing, the court will now consider the arguments heard and give a decision on how the buyout process should proceed, it seems.At the moment, no date for a judgement to be delivered has been fixed for the court, which does leave the process open to potentially dragging on.But Markel CATCo said that it anticipates that the judgement will not be delivered until January 22nd 2022, so pushing the process into next year.

The retro reinsurance investment manager said further updates will be made as information becomes available.that the buy-out process for Markel CATCo’s retrocessional reinsurance investment funds was likely to drag on, after a court appearance in Bermuda ended with Markel agreeing to provide additional information to creditors.The expected Scheme Convening Hearing was held on this week and it’s unclear at this time what ramifications that may have, as at this hearing it was expected some investors would raise challenges to the proposed process.

Markel CATCo said it intended to vigorously defend the Schemes, but we won’t know the outcome until a judgement is delivered.– – .– .

– .– .– .

– .– .———————————————————————.All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.

Our can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.