1 May 2020ILS

Blue Capital assets decline by $55m as wind-down continues

Blue Capital Reinsurance Holdings reported net assets in liquidation declined $54.6 million in Q1, largely driven by the special distribution to shareholders of $52.8 million on March 30.

Blue Capital Re also saw a $1.4 million increase in losses related to prior year periods and a $0.2 million negative adjustment to premiums and acquisition expenses.

Its fully converted book value per common share was $1.45 at March 31, a 2.6 percent decrease for the quarter, including dividend payments.

Blue Capital previously offered collateralised reinsurance in the property catastrophe market through its operating subsidiaries and invested in various insurance-linked securities. It is currently winding down its operations.




More on this story

News
31 March 2020   Blue Capital Reinsurance Holdings has filed a Form 15 with the US Securities and Exchange Commission (SEC) to deregister its common stock and suspend its reporting obligations under the Securities Exchange Act of 1934.
News
20 March 2020   Blue Capital Reinsurance Holdings has filed notification with the Securities and Exchange Commission to be removed from listing on the New York Stock Exchange.
News
1 June 2020   Blue Capital Reinsurance Holdings has called a special general meeting of shareholders on July 28, 2020, to confirm Mike Morrison and Mark Allitt of KPMG Advisory as joint liquidators.

More on this story

News
31 March 2020   Blue Capital Reinsurance Holdings has filed a Form 15 with the US Securities and Exchange Commission (SEC) to deregister its common stock and suspend its reporting obligations under the Securities Exchange Act of 1934.
News
20 March 2020   Blue Capital Reinsurance Holdings has filed notification with the Securities and Exchange Commission to be removed from listing on the New York Stock Exchange.
News
1 June 2020   Blue Capital Reinsurance Holdings has called a special general meeting of shareholders on July 28, 2020, to confirm Mike Morrison and Mark Allitt of KPMG Advisory as joint liquidators.