Press Release

Printer Friendly Version View printer-friendly version
<< Back
Blue Capital Announces Preliminary Third Quarter Catastrophe Losses
Download PDF Download PDF

HAMILTON, Bermuda, Oct. 18, 2017 (GLOBE NEWSWIRE) -- Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH); ("Blue Capital") today announced preliminary third quarter catastrophe losses of $57.5 million dollars, net of reinsurance and reinstatement premiums and expects September 30, 2017 book value per share to be approximately $14.48.  The estimated losses reflect the impact of three major hurricanes which made landfall and two earthquakes in Mexico.  On  August 25, 2017, Hurricane Harvey made landfall near Corpus Christi, Texas, on September 10, 2017, Hurricane Irma made initial U.S. landfall near the Florida Keys, Florida, and on September 20, 2017, Hurricane Maria made landfall in Puerto Rico.  Additionally, the Southern Coast of Mexico was impacted by an earthquake on September 8, 2017 while Central Mexico was impacted by an earthquake on September 19, 2017. 

The estimates for the Company’s incurred losses in 2017, net of reinsurance and reinstatement premiums, have driven the Company’s year-to-date change in book value including dividends paid to be (23.6%).  The Company’s loss estimates have been derived from the utilization of proprietary catastrophe modeling, standard industry models, an in-depth review of in-force contracts and initial indications from clients and brokers. The Company’s actual losses may ultimately differ materially from estimated losses due to the nature of the risks assumed, the complexity of the assessment of damages and the limited number of reported claims received to date.

About Blue Capital

Blue Capital Reinsurance Holdings Ltd., through its operating subsidiaries, offers collateralized reinsurance in the property catastrophe market, leveraging underwriting expertise and infrastructure from established resources. Underwriting decisions, operations and other management services are provided to Blue Capital by Blue Capital Management Ltd., a subsidiary of Sompo International Holdings Ltd. (a wholly owned subsidiary of Sompo Holdings, Inc.), a recognized global specialty provider of property and casualty insurance and reinsurance and a leading property catastrophe and short tail reinsurer since 2001.

Contact
Investor Relations
Phone: +1 441 278 0988
Email: investorrelations@Sompo-intl.com

Blue Capital Reinsurance Holdings

Print Page Print Page | E-mail Page Email Page | RSS Feeds RSS Feed | E-mail Alerts Email Notification | Financial Tear Sheet Financial Tear Sheet

IMPORTANT DISCLAIMER AND TERMS OF USE

ELECTRONIC VERSIONS OF THE MATERIALS RELATING TO BLUE CAPITAL GLOBAL REINSURANCE FUND LIMITED (THE "COMPANY") YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBSITE IN GOOD FAITH AND ARE FOR INFORMATION PURPOSES ONLY.

THESE MATERIALS ARE NOT, DIRECTLY OR INDIRECTLY, DIRECTED AT OR ACCESSIBLE BY PERSONS IN THE UNITED STATES OR PERSONS RESIDENT OR LOCATED IN THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA ("EEA") (OTHER THAN THE UNITED KINGDOM AND ANY SUCH OTHER MEMBER STATES WHERE MARKETING IS PERMITTED PURSUANT TO THE ALTERNATIVE INVESTMENT FUND MANAGERS DIRECTIVE (61/2011/EU) (TOGETHER, "ELIGIBLE MEMBER STATES")) OR ANY OTHER JURISDICTION WHERE THE EXTENSION OF AVAILABILITY OF SUCH MATERIALS WOULD BREACH ANY APPLICABLE LAW OR REGULATION.


By accessing this website you are representing to the Company and its advisers that you are not: (i) a US Person (within the meaning of Regulation S under the Securities Act of 1933 (as amended, the "Securities Act") (a "US Person")) and are not acting on behalf of a US Person, nor purchasing with a view to re-sale in the US or to or for the account of a US Person, and that you are not an employee benefit plan as defined in section 3(3) of the United States Employee Retirement Income Security Act of 1974 and the regulations promulgated thereunder (in each case as amended) ("ERISA") (whether or not subject to the provisions of Title 1 of ERISA) or similar US laws or an individual retirement account as defined in section 408 of the US Internal Revenue Code; (ii) a resident of Australia, Canada, Japan, the Republic of South Africa or a jurisdiction where the extension of availability of the materials to which you are seeking access would breach any applicable law or regulation; and that you will not: (x) offer, sell, renounce, transfer or deliver, directly or indirectly, Shares subscribed for by you in the United States, Australia, Canada, Japan, the Republic of South Africa or in any jurisdiction in which such offers or sales are unlawful ("Excluded Territories") or to any US Person or resident of Australia, Canada, Japan, the Republic of South Africa or any Excluded Territories, or: (y) release or otherwise forward, distribute or send any materials on this website in or into the United States, Australia, Canada, Japan, the Republic of South Africa or any Excluded Territories.

Shares ("Shares") in the capital of the Company have not been and will not be registered under the Securities Act, or with any securities regulatory authority of any state or other jurisdiction of the United States and, subject to certain exceptions, Shares may not be offered, sold, resold, pledged, delivered, distributed or otherwise transferred, directly or indirectly, into or within the United States, or to, or for the account or benefit of, US Persons. The Company has not been and will not be registered under the United States Investment Company Act of 1940, as amended, (the "Investment Company Act") and, as such, investors will not be entitled to the benefits of the Investment Company Act. A US Person that acquires Shares may be required to sell or transfer such Shares to a person qualified to hold Shares or forfeit the Shares if the transfer is not made in a timely manner.

Any person outside the United Kingdom wishing to acquire, subscribe for or purchase any Shares should satisfy himself that, in doing so, he complies with the laws of any relevant territory, and that he obtains any requisite governmental or other consents and observes any other applicable formalities.

In addition, relevant clearances have not been, and will not be, obtained from the securities commission (or equivalent) of any province of Australia, Canada, Japan, the Republic of South Africa or any other Excluded Territory and, accordingly, unless an exemption under any relevant legislation or regulations is applicable, none of the Shares may be offered, sold, renounced, transferred or delivered, directly or indirectly, in Australia, Canada, Japan, the Republic of South Africa or any other Excluded Territory.

These materials are only addressed to and directed at persons in Eligible Member States who are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the extent implemented in the Relevant Member State)) ("Qualified Investors"). If you are located in the EEA but outside the UK, by accessing this website, you warrant, represent, acknowledge and agree that: (i) you are a Qualified Investor; (ii) you are a recipient in an Eligible Member State; and (iii) you have read, agree to and will comply with the contents of this notice.

Access to electronic versions of these materials is being made available on the webpage in good faith and for information purposes only. Making press announcements and other documents relating to any offering of securities available in electronic format does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for securities, nor does it constitute a recommendation by any party to sell or buy securities.

The contents of this website are not a financial promotion and none of the contents of this website constitute an invitation or inducement to engage in investment activity. If and to the extent that this website or any of its contents are deemed to be a financial promotion, the Company is relying on the exemption provided by Article 69 of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005/1529 in respect of section 21 of the Financial Services and Markets Act 2000. In particular, any information in respect of past performance (including without limitation past performance of the Company, the Shares and/or the Company's portfolio) cannot be relied upon as a guide to future performance.

Any person accessing the website should carefully review the Terms of Use of the website. By using the website, you indicate that you accept the Terms of Use and that you agree to abide by them. If you do not agree to the Terms of Use, please refrain from using the website.

[By clicking on the "Accept" button/checking the box below], I confirm, represent, warrant and agree that:

  1. I am not a US Person or located in the United States, Australia, Canada, Japan or the Republic of South Africa or any other Excluded Territory, and I confirm that I am permitted to view electronic versions of these materials;
  2. I will not forward, transmit or show the materials contained in this webpage to any US Person or person located in, or a resident of, the United States, Australia, Canada, Japan or the Republic of South Africa or any other Excluded Territory;
  3. I am not investing or otherwise acting for the account or benefit of a us person or a resident of Australia, Canada, Japan, the Republic of South Africa or any Excluded Territory; and
  4. I have read and understood the disclaimer set out above and will read carefully any additional disclaimers or important notices attaching to or forming part of the materials or information on this website. I understand that this may affect my rights, and I agree to be bound by their terms.

[Click through, Yes - I have read and accept the above terms and conditions/No - I have read the above and do not wish to access the website]