1 December 2014 News

Blue Capital fund raises $21.2m

Blue Capital Global Reinsurance Fund, the reinsurance fund managed by Montpelier Re subsidiary Blue Capital Management, has raised $21.2 million in its latest share placement.

In November, the fund published a prospectus and provided the timetable for the first placing under a new programme.

The net proceeds from the first placing will be invested in “fully collateralised reinsurance-linked contracts and other investments carrying exposures to insured catastrophe event risks in accordance with the company's investment policy”.

It is expected that the majority of the net proceeds will be invested in the January 2015 reinsurance renewals.

In total, 19,487,560 new ordinary shares in the Company will be issued at a price of $1.09 per ordinary share.

The new shares will be admitted to trading on the London Stock Exchange’s Specialist Fund Market and on the Bermuda Stock Exchange.


More on this story

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28 July 2020   The Bermuda holding company is winding down its operations.
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31 March 2020   The company will also withdraw its listing with the Bermuda Stock Exchange prior to July 31.
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10 March 2020   The company expects the last trading day of its common stock on the NYSE to be March 30.

More on this story

Insurance
28 July 2020   The Bermuda holding company is winding down its operations.
Insurance
31 March 2020   The company will also withdraw its listing with the Bermuda Stock Exchange prior to July 31.
Insurance
10 March 2020   The company expects the last trading day of its common stock on the NYSE to be March 30.

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