Blue Capital Re, a Bermuda-based provider of collateralised reinsurance in the property-catastrophe market, saw a strong third quarter.
Its net income and operating income for the quarter hit $3.2 million. The company’s fully converted book value per common share was $20.09 at September 30, 2014, reflecting a 1.8 percent increase for the quarter and a 6 percent increase for the first nine months.
During the first nine months of 2014, the reinsurer earned $32.7 million of reinsurance premiums, representing approximately 72 percent of the expected total annual premium associated with its in-force reinsurance contracts at September 30, 2014.
William Pollett, president and chief executive officer, said: “We had another solid quarter in Q3. We have successfully deployed our available capital and are pleased with the diversified portfolio of risks that we have constructed.”
Blue Capital Re, Bermuda, Third Quarter 2014 Results