Blue Capital Global Reinsurance Fund Limited Receives BSX Approval for the Secondary Listing of 100,100,000 Ordinary Shares
HAMILTON, BERMUDA--(Marketwire - Dec 11, 2012) - The Listing Committee of the Bermuda Stock Exchange (BSX) announced the approval of the Secondary Listing of 100,100,000 Ordinary Shares of Blue Capital Global Reinsurance Fund Limited (the "Company") effective December 6, 2012. The Primary listing is on the London Stock Exchange's Specialist Fund Market.
The Company is a limited liability closed-ended fund, registered and incorporated as an exempted mutual fund company in Bermuda. The Company is managed by Blue Capital Management Ltd, a wholly owned subsidiary of Montpelier Re Holdings Ltd. (NYSE: MRH) ("Montpelier"), a leading global provider of property catastrophe and short tail reinsurance solutions with over US$3.5 billion of assets. The Company will invest in a diversified portfolio of fully collateralised reinsurance-linked contracts and other investments carrying exposures to insured catastrophe event risks via a segregated account and will be backed by Montpelier's dedicated analytics, risk management, claims and actuarial teams.
The listing of the Ordinary Shares of the Company was sponsored by Prime Management Limited which is licensed as a fund administrator by the Bermuda Monetary Authority under the Investment Funds Act 2006.
Greg Wojciechowski, President & CEO of the BSX stated, "I am delighted to welcome Blue Capital Global Reinsurance Fund Limited to secondary listing on the BSX. At the BSX, we have successfully operated a state of the art internationally recognized listing and trading platform in Bermuda for many years. As the insurance and capital market industries continue to converge, it is very apparent that Bermuda and the BSX has a role to play in assisting the continued development of the ILS asset class. The BSX is in the position to provide full and immediate exchange support to the ILS space... I look forward to working with the insurance industry to bring to market new and exciting products that are listed and traded on the BSX in Bermuda."
William Pollett, President of Blue Capital Management Ltd., added: "We are delighted to launch this listed fund which will provide targeted exposure to the reinsurance market via a partnership with Montpelier's global property catastrophe franchise. We believe a secondary listing on the BSX brings significant value for our institutional and private client investors and highlights our support for the continued development of the local marketplace."
John Whiley, representing Prime Management Limited stated: "We are pleased to have been able to assist Blue Capital Global Reinsurance Fund Limited with their listing on the BSX. As an independent fund administrator and listing sponsor which is active in servicing the insurance-linked security investment community, we are very excited to see the continued growth and innovation in risk-linked investments".
For further information on Blue Capital Management Ltd. please contact:
William Pollett, President, Blue Capital Management Ltd., bill.pollett@bluecapital.bm, +1 441-299-7576 Or Jeannine Menzies, Montpelier, Jeannine.menzies@montpelierre.bm +1-441-299-7570
For further information on Prime Management Limited please contact:
John Whiley, Head of ILS Fund Administration, Prime Management Limited, johnwhiley@primebermuda.com, +1 441-295-0329
For more information on the Bermuda Stock Exchange (BSX), contact Bruce McMartin at 1-441-292-7212 or bmcmartin@bsx.com. Information is also available at www.bsx.com on Bloomberg at BSX < GO > .
Established in 1971 the Bermuda Stock Exchange (BSX) is now the leading fully electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and Insurance Linked Securities.
The BSX, recognised by the US SEC as a Designated Offshore Securities Market, is a member of the World Federation of Exchanges and is located in an O.E.C.D. member nation. The BSX has Approved Stock Exchange status under Australia's Foreign Investment Fund (FIF) taxation rules; Designated Investment Exchange status by the UK's Financial Services Authority; Recognised Stock Exchange by the UK HM Revenue and Customs; and is a member of America's Central Securities Depository Association.
