Cat Bond fund chairman resigns

The CATCo Reinsurance Opportunites fund has announced the resignation of chairman and non-executive director Anthony Taylor, to avoid a conflict of interest.

Taylor has stepped down after informing the board of a potential conflict of interest, related to his business interests in a “small but growing” portfolio of collateralised reinsurance businesses.

The portfolio had the potential to clash with the reinsurance portfolio of the investment trust.

The former chairman says: “I am pleased to have played a role in the launch and evolution of the company, and I wish continued success to the CATCo directors and management team.”

The resignation of Taylor has seen Nigel Barton named as chairman and non-executive director of the investment trust. Barton was founder and chief executive of insurance broker Oxygen Holdings.