Blue Capital Reinsurance revises Q4 cat losses upwards

Bermuda-based Blue Capital Reinsurance Holdings has raised its fourth quarter catastrophe loss estimates to $30.0 million net of reinsurance and reinstatement premiums from $17.0 million as of Dec. 11, 2018.

The increase was driven by higher client specific and industry-wide loss reports received after the prior announcement, which primarily related to typhoon Jebi and the California wildfires (which occurred in the third and fourth quarters of 2018) and hurricane Irma (which made landfall in the third quarter of 2017), the company explained.

Blue Capital Reinsurance Holdings offers collateralized reinsurance in the property catastrophe market through its operating subsidiaries.

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