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Blue Capital Reinsurance Holdings Ltd. (BCRH)

NYSE - Nasdaq Real Time Price. Currency in USD
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6.720.00 (0.00%)
As of 4:02PM EDT. Market open.
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Chart Events
Neutralpattern detected
Previous Close6.59
Open6.71
Bid0.00 x 1100
Ask6.75 x 800
Day's Range6.66 - 6.90
52 Week Range0.81 - 9.11
Volume383,142
Avg. Volume30,051
Market Cap58.967M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateApr 30, 2020 - May 04, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Blue Capital Reinsurance Holdings Announces Special General Meeting Results

    HAMILTON, Bermuda, July 28, 2020 (GLOBE NEWSWIRE) -- Blue Capital Reinsurance Holdings Ltd. (OTC:BCRHF) (the "Company"), a Bermuda holding company, reported the results of its Special General Meeting of Shareholders (“Special General Meeting”), that was held on July 28, 2020. The Company, through its operating subsidiaries, previously offered collateralized reinsurance in the property catastrophe market and invested in various insurance-linked securities. The Company is currently winding down its operations. During the Special General Meeting both proposals submitted to shareholders were approved.Shareholders approved that the Company will be wound up voluntarily pursuant to the provisions of the Companies Act 1981, as amended (the “Companies Act”) and that Mike Morrison and Mark Allitt of KPMG Advisory Limited will be appointed as “Joint Liquidators” of the Company. Shareholders also approved that the Joint Liquidators are authorized to: (a) divide among the Shareholders in specie or in kind the whole or any part of the assets of the Company; and (b) vest the whole or any part of the assets of the Company in trust for the benefit of the Shareholders.Following the Special General Meeting, the directors and officers of the Company resigned with immediate effect. The Company delisted from the Bermuda Stock Exchange effective at the end of trading on July 28, 2020. The Company will continue trading on the OTC Pink during the winding up. Future notices and financial updates regarding the Company will be posted to the Company’s website, www.BCRH.bm.About the CompanyBlue Capital Reinsurance Holdings Ltd., is currently winding down its operations. The Company, through its operating subsidiaries, previously offered 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 the Company 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. Additional information can be found at www.bcapre.bm.Contacts Investor Relations Phone: +1 441 278 0988 Email: investorrelations@Sompo-Intl.comForward-Looking StatementsSome of the statements in this press release may include, and the Company may make related oral forward-looking statements which reflect our current views with respect to future events and financial performance. Such statements may include forward-looking statements both with respect to us in general and the insurance and reinsurance sectors specifically, both as to underwriting and investment matters. Statements that include the words "should," "would," "expect," "estimates", "intend," "plan," "believe," "project," "target," "anticipate," "seek," "will," "deliver," and similar statements of a future or forward-looking nature identify forward-looking statements in this press release.All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or may be important factors that could cause the Company's run-off performance and the timing and amount of special distributions to differ materially from those indicated in the forward-looking statements. These factors include, but are not limited to, greater frequency or severity of claims and loss activity, uncertainties in our reserving process, changes to our tax status, credit risk related to our broker counterparties, assessments for high risk or otherwise uninsured individuals, possible terrorism or the outbreak of war, a loss of key personnel, political conditions, changes in insurance regulation, operational risk, including the risk of fraud and errors and omissions, as well as technology breaches or failure, changes in accounting policies, our investment performance, the valuation of our invested assets, a breach of our investment guidelines, potential treatment of us as an investment company or a passive foreign investment company for purposes of U.S. securities laws or U.S. federal taxation, respectively, our dependence as a holding company upon dividends or distributions from our operating subsidiaries, the unavailability of capital in the future, developments in the world’s financial and capital markets, government intervention in the insurance and reinsurance industry, illiquidity in the credit markets, changes in general economic conditions and other factors.The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere, including the risk factors included in the Company's most recent annual financial statements posted on the Company's website. Any forward-looking statements made in this material are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company or its business or operations. Except as required by law, the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.   The contents of any website referenced in this press release are not incorporated by reference herein.

  • GlobeNewswire

    Blue Capital Reinsurance Holdings Reports Second Quarter 2020 Financial Position

    HAMILTON, Bermuda, July 27, 2020 (GLOBE NEWSWIRE) -- Blue Capital Reinsurance Holdings Ltd. (OTC:BCRHF) (the "Company"), a Bermuda holding company, today reported its financial position for the second quarter of 2020. The Company, through its operating subsidiaries, previously offered collateralized reinsurance in the property catastrophe market and invested in various insurance-linked securities.  The Company is currently winding down its operations. Net assets in liquidation declined $6.1 million in the current quarter largely driven by the special distribution to shareholders of $6.5 million ($0.74 per share) that was declared on June 30, 2020 and will be paid on July 30, 2020.  Favorably impacting net assets in liquidation during the second quarter was a $0.2 million decrease in losses related to prior year periods and a $0.2 million positive adjustment to reinsurance premiums receivable.The Company’s fully converted book value per common share was $0.75 at June 30, 2020, reflecting a 2.8% increase for the quarter, inclusive of dividends declared in the period.About the CompanyBlue Capital Reinsurance Holdings Ltd., is currently winding down its operations.  The Company, through its operating subsidiaries, previously offered 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 the Company 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. Additional information can be found at www.bcapre.bm.Contacts Investor Relations Phone: +1 441 278 0988 Email: investorrelations@Sompo-Intl.comForward-Looking StatementsSome of the statements in this press release may include, and the Company may make related oral forward-looking statements which reflect our current views with respect to future events and financial performance. Such statements may include forward-looking statements both with respect to us in general and the insurance and reinsurance sectors specifically, both as to underwriting and investment matters. Statements that include the words "should," "would," "expect," "estimates", "intend," "plan," "believe," "project," "target," "anticipate," "seek," "will," "deliver," and similar statements of a future or forward-looking nature identify forward-looking statements in this press release.All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or may be important factors that could cause the Company's run-off performance and the timing and amount of special distributions to differ materially from those indicated in the forward-looking statements. These factors include, but are not limited to, greater frequency or severity of claims and loss activity, uncertainties in our reserving process, changes to our tax status, credit risk related to our broker counterparties, assessments for high risk or otherwise uninsured individuals, possible terrorism or the outbreak of war, a loss of key personnel, political conditions, changes in insurance regulation, operational risk, including the risk of fraud and errors and omissions, as well as technology breaches or failure, changes in accounting policies, our investment performance, the valuation of our invested assets, a breach of our investment guidelines, potential treatment of us as an investment company or a passive foreign investment company for purposes of U.S. securities laws or U.S. federal taxation, respectively, our dependence as a holding company upon dividends or distributions from our operating subsidiaries, the unavailability of capital in the future, developments in the world’s financial and capital markets, government intervention in the insurance and reinsurance industry, illiquidity in the credit markets, changes in general economic conditions and other factors.The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere, including the risk factors included in the Company's most recent annual financial statements posted on the Company's website.  Any forward-looking statements made in this material are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company or its business or operations. Except as required by law, the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.   The contents of any website referenced in this press release are not incorporated by reference herein.    BLUE CAPITAL REINSURANCE HOLDINGS LTD. CONSOLIDATED STATEMENT OF NET ASSETS IN LIQUIDATION (Liquidation Basis) Unaudited     June 30, (In millions of U.S. dollars) 2020 Assets   Cash and cash equivalents $7.4  Reinsurance premiums receivable 0.4  Funds held by ceding companies 42.3  Other assets —  Total Assets $50.1  Liabilities   Loss and loss adjustment expense reserves $32.7  Reinsurance balances payable 2.0  Other liabilities 7.0  Liability for estimated costs in excess of estimated receipts during liquidation  1.8  Total Liabilities 43.5  Net Assets in Liquidation $6.6    BLUE CAPITAL REINSURANCE HOLDINGS LTD. CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS IN LIQUIDATION (Liquidation Basis) Unaudited       (In millions of U.S. dollars) Three Months Ended June 30, 2020     Net Assets in Liquidation at beginning of period $12.7  Changes in net assets in liquidation:   Changes in liquidation value of reinsurance premiums receivable 0.2  Changes in liquidation value of loss and loss adjustment expense reserves 0.2  Remeasurement of assets and liabilities —  Liquidating distributions to shareholders (6.5) Net Assets in Liquidation at end of period $6.6                     BOOK VALUE AND FULLY CONVERTED BOOK VALUE PER COMMON SHARE Unaudited      June 30, 2020 March 31, 2020 December 31, 2019 September 30, 2019 Book value per share numerator (in millions of U.S. dollars):         [A]Shareholders’ Equity (in millions of U.S. dollars) $6.6  $12.7  $67.3  $71.9  Book value per share denominators (in thousands of shares):         [B]Common Shares outstanding 8,786  8,775  8,775  8,775   Restricted Share Units outstanding 16  27  27  27  [C]Fully converted book value per common share denominator 8,802  8,802  8,802  8,802  Book value per common share [A]/[B] $0.75  $1.45  $7.67  $8.19  Fully converted book value per common share [A]/[C] $0.75  $1.45  $7.65  $8.17  Change in fully converted book value per common share:(1)          From March 31, 2020 2.8%        From December 31, 2019 (2.1)%        From June 30, 2019 (7.4)%       (1)  Computed as the change in fully converted book value per common share plus common dividends/special distributions declared of $0.74, $6.74 and $8.82 during the three, six and twelve month periods ended June 30, 2020, respectively.

  • GlobeNewswire

    Blue Capital Files Securities and Exchange Commission Form 15

    As a result of the Form 15 filing, the Company will no longer be required to file certain reports under the Exchange Act, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and current reports on Form 8-K. On March 19, 2020, the Company filed a Form 25 (Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934) with the SEC in order to voluntarily delist its common shares from the New York Stock Exchange (“NYSE”).