INVESTORS SUPPORT SWEETENED MARKEL CATCO BUY-OUT PLAN

Retro investment manager Markel CatCo is to proceed with its proposed buy-out scheme after the terms of the transaction were improved and it obtained “substantial” support from most of its investors. Support for the buy-out scheme has been received from investors representing over 90% of the Markel CatCo Reinsurance Fund and from investors representing over 95% of the Markel CatCo Reinsurance Opportunities Fund, parent company Markel Corp said.