Blue Capital Q3 Loss Estimate: $57.5 Million
Bermuda-based Blue Capital Reinsurance Holdings announced preliminary third quarter catastrophe losses of $57.5 million dollars, net of reinsurance and reinstatement premiums and expects September 30, 2017 book value per share to be approximately $14.48.
The estimated losses reflect the impact of three major hurricanes which made landfall and two earthquakes in Mexico.
On August 25, 2017, Hurricane Harvey made landfall near Corpus Christi, Texas, on September 10, 2017, Hurricane Irma made initial U.S. 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.
The Company’s actual losses may ultimately differ materially from estimated losses due to the nature of the risks assumed, the complexity of the assessment of damages and the limited number of reported claims received to date.
