Markel receives court approval for CATCo buy-out; to distribute capital to fund investors

MARKEL GROUP INC.

Bermuda and US bankruptcy courts approve buy-out of Markel CATCo Reinsurance Fund Ltd. and CATCo Reinsurance Opportunities Fund.
Markel affiliates to fund up to $50M to buy out retrocessional accounts and provide tail risk cover for Aquilo Fund.
Markel to make ~$100M in payments net of insurance proceeds to fund investors.
Mutual releases will be granted; two investor lawsuits against former CEO to be dismissed.
Closing expected in late March 2022.

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