Major cat events cause $57.5m losses for Blue Capital Re in Q3
Blue Capital Reinsurance Holdings expects catastrophe losses of $57.7 million in the third quarter of 2017, driven by the three major hurricanes which made landfall and the two earthquake in Mexico.
The figure is net of reinsurance and reinstatement premiums.
On August 25, 2017, Hurricane Harvey made landfall near Corpus Christi, Texas, on September 10, 2017, Hurricane Irma made initial US 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.
Blue Capital Reinsurance Holdings, through its operating subsidiaries, offers collateralised 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, a subsidiary of Sompo International Holdings (a wholly owned subsidiary of Sompo Holdings).
