Blue Capital Comments on Impact of Natural Catastrophes on Fourth Quarter Results
11 Décembre 2018 - 10:15PM
Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH); ("Blue
Capital") today announced that its fourth quarter results would be
impacted by catastrophe losses currently estimated at $17.0 million
dollars, which include losses related to Hurricane Michael, which
made landfall in Florida in October 2018, as well as the 2018
California wildfires. The estimated losses are net of
reinsurance and reinstatement premiums. Based on our current
estimates for these events, the year-end 2018 fully converted book
value per common share is expected to be between $11.25 and $12.00.
The Company’s loss estimates have been derived from the
utilization of proprietary catastrophe modeling, standard industry
models, an in-depth review of in-force contracts and initial
indications from clients and brokers. 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.
About Blue Capital
Blue Capital Reinsurance Holdings Ltd., through its operating
subsidiaries, offers collateralized 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 Ltd., a subsidiary of Sompo
International Holdings Ltd. (a wholly owned subsidiary of Sompo
Holdings, Inc.), a recognized global specialty provider of property
and casualty insurance and reinsurance and a leading property
catastrophe and short tail reinsurer since 2001.
ContactInvestor RelationsPhone: +1 441 278 0988Email:
investorrelations@Sompo-intl.com
Blue Capital Reinsurance (NYSE:BCRH)
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