Blue Capital Global Reinsurance Fund, backed by Bermuda-based, Montpelier Re and listed on the London and Bermuda stock exchanges, announced this week that it has deployed 58 percent of its fund capacity, to the tune of $57 million.
The capital has been deployed across 28 contracts to ensure diversity of geography, peril and occurrence. The majority of Blue Capital’s investments are in the traditional reinsurance market.
According to Blue Capital Management, the fund’s investment manager, Blue Capital is on track to have its funds fully invested in by July of this year. The initial deployment is in line with longer term targets, said Blue Capital.
William Pollett, president of Blue Capital Management, commented: "we are very encouraged by the market reception to the launch of the company and are pleased to report that we are on track to construct a diversified portfolio with attractive risk-adjusted return characteristics, consistent with the launch prospectus."