Blue Capital Updates On Reinsurance Renewals
Bermuda-based Blue Capital Global Reinsurance Fund Limited, whose shares are admitted to trading on the London Stock Exchange’s Specialist Fund Market and the Bermuda Stock Exchange, provided an update on the January 2015 reinsurance renewals.
William Pollett, President and CEO of Blue Capital Management Ltd, commented, “We are pleased with our 2014 results in spite of the challenging market conditions, posting a total NAV return [including dividends] of 8.8 per cent.
“Overall, we witnessed a competitive underwriting environment with healthy competition from traditional and alternative markets over the important January 2015 renewal period. Blue Capital’s differentiated product focus on collateralized reinsurance transactions with smaller, regional insurance companies enabled it to sidestep the most competitive market segments.
“Overall, the January trades were executed with an average risk adjusted rate decrease of approximately 13 per cent. compared to last year. Despite these rate decreases, we remain confident that we can deliver attractive returns for our Shareholders.”
