Blue Capital merges insurance manager, investment manager entities


Insurance and reinsurance linked investment manager Blue Capital Management, a subsidiary of Bermudian reinsurer Montpelier Re, has merged its insurance manager and investment manager entities into a single company.

With effect from the 15th December 2014, Blue Capital Insurance Managers Ltd. (BCIML) (the insurance manager) has merged with Blue Capital Management Ltd. (the investment manager), creating a single combined entity.

Blue Capital Management Ltd. (BCML) continues as the surviving company and in addition to continuing to act as the investment manager for the Blue Capital Global Reinsurance Fund and other initiatives, BCML will also act as the insurance manager and insurance agent to Blue Water Re Ltd. instead of, and on the same terms as, BCIML.

BCIML acted as the insurance manager and insurance agent to Blue Water Re Ltd., the reinsurer through which Blue Capital Management indirectly invests a significant proportion of its third-party reinsurance assets under management.

Upon the merger becoming effective, BCML will be registered as an insurance manager and insurance agent under the Bermuda Insurance Act 1978, in addition to being licensed to conduct investment business by the Bermuda Monetary Authority and registered as an investment adviser with the US Securities and Exchange Commission.

Blue Capital Management is rationalising the need for multiple management companies, which should simplify the insurance and reinsurance linked investment operations going forwards.

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