29 Aug 2017 12:49
FOR IMMEDIATE RELEASE
29 August 2017
To: SFS, London Stock Exchange and Bermuda Stock Exchange
Hurricane Harvey
Markel CATCo Investment Management Ltd., as Investment Manager, would like to express their deep concern for the affected residents of Texas as they continue to experience one of the worst storms in US history. Whilst it is still very early to comment on the level of potential impact to the investment portfolio, the early estimates provided by the catastrophe risk modeling firms suggest insured wind losses of low single digit billions (USD).
Of course, the remaining question which cannot be answered at this time is with respect to the potential insured flood loss amounts. If the total wind and flood insured losses remain below $10 billion the impact on the investment portfolio is not expected to be significant.
For further information: |
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Markel CATCo Investment Management Ltd.
Judith Wynne General Counsel Telephone: +1 441 493 9005 Email: judith.wynne@markelcatco.com
Mark Way Chief Operating Officer Telephone: +1 441 493 9001 Email: mark.way@markelcatco.com | Numis Securities Limited
David Benda / Hugh Jonathan Telephone: +44 (0) 20 7260 1000 |
CATCo (CAT)