Blue Capital Re reports Q2 2020 results

Blue Capital Reinsurance has seen its net assets in liquidation decline by $6.1 million in the current quarter, largely driven by a special distribution to shareholders of $6.5 million that will be paid on July 30, 2020.

The Bermuda holding company, which is winding down its operations, has reported its financial position for Q2 2020. It revealed a $0.2 million decrease in losses related to prior year periods, and a $0.2 million positive adjustment to reinsurance premiums receivable.

Its fully converted book value per common share was $0.75 at June 30, 2020, reflecting a 2.8 percent increase for the quarter, inclusive of dividends declared in the period.

The company, through its operating subsidiaries, previously offered collateralised reinsurance in the property-catastrophe market and invested in various insurance-linked securities.