Markel CATCo chief Tony Belisle extends contract until 2020

Bermuda-based Markel CATCo Investment Management’s CEO Tony Belisle has renewed his contract with the company extending it for another two years.

The contract was originally due to expire on Dec. 31, 2018.

Belisle is now set to remain at the helm of Markel CATCo, which manages the CATCo Reinsurance Opportunities Fund, until Dec. 31, 2020. Afterwards, his contract will continue indefinitely on a rolling annual basis, according to a company statement.

Belisle founded CATCo Investment Management in 2010 and launched CATCo’s “pillared” approach to writing collateralised reinsurance protections.

The majority of the assets of the business were subsequently sold to Markel Corporation in December 2015. Under its new ownership, Markel CATCo’s assets under management have grown significantly to approximately $4.5 billion, the company said.

“Markel CATCo has been a great addition to the Markel family of companies, said Richie Whitt, co-chief executive officer of Markel Corporation. “We are committed to the ILS space, growing our presence in Bermuda, helping Markel CATCo expand their product and talent portfolios, and supporting Tony and his team as they continue to deliver for the investors in the CATCo managed funds and for Markel’s shareholders.”

Belisle added: “I have strong confidence in the team in place at Markel CATCo, which has clearly demonstrated its ability to be successful in the current market. I am proud of what we have achieved to date and am excited about the further opportunities that lie ahead for the Company.”

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