Blue Capital Reinsurance schedules first dividend payment

by Artemis on April 2, 2014

Blue Capital Reinsurance Holdings, the third-party capital backed collateralized reinsurance subsidiary of Bermuda-based Montpelier Re, has announced and scheduled its first quarterly dividend to shareholders of $0.30 per common share.

Blue Capital Re (BCRH) operates almost like a sidecar reinsurance vehicle, underwriting reinsurance business on a fully-collateralized basis and providing its investors with returns through its share price and also through dividends. Blue Capital Re said that it intends to distribute a minimum of 90% of its distributable income to common shareholders in the form of cash dividends.

Blue Capital Re is an interesting development to watch in the third-party reinsurance capital space, being a New York Stock Exchange reinsurer, operating on a fully-collateralized basis. It’s a unique model in the sector and it will be interesting to see how it delivers its returns over time.

Three regular dividend payments will be made throughout the year with the final fourth payment being a ‘special dividend’ at the end of the fiscal year to meet its dividend payout target.

Blue Capital Re expects to make the dividend payment of $0.30 per common share on or before 30th April 2014 to shareholders of record as of 15th April 2014.

Other recent articles on Blue Capital Re:

Blue Capital Re explains 2014 reinsurance portfolio diversification.

Blue Capital Reinsurance Holdings deploys $143m at Jan renewals.

Blue Capital Re establishes retrocession agreement with Blue Water Re.

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