Blue Capital Management

Blue Capital Management Ltd., the now Sompo Holdings owned specialist insurance and reinsurance investment manager, has had a motion approved by its shareholders which will see its stock exchange listed ILS fund renamed from the Blue Capital Global Reinsurance Fund Limited to the Blue Capital Alternative Income Fund Limited.

Michael J. McGuire has been appointed Chief Executive Officer of insurance-linked securities (ILS) and third-party reinsurance capital manager Blue Capital Management Ltd. after Adam Szakmary resigned from all his executive positions and directorships with the company.

Sompo Holdings has now completed its acquisition of Bermudian insurance and reinsurance group Endurance and as a result becomes the owner of specialist catastrophe insurance and reinsurance linked investment manager Blue Capital Management Ltd.

The third-party reinsurance capital and ILS fund management operations of Blue Capital are a “nice benefit” of the acquisition of Montpelier Re for insurance and reinsurance group Endurance, according to Mike McGuire, CFO.

Bermuda-based specialty property and casualty insurance and reinsurance firm Endurance Specialty Holdings Ltd. has now received all the required regulatory approvals for its purchase of fellow Bermudian re/insurer Montpelier Re and the transaction completes today.

Bermudian reinsurance firm Montpelier Re, in the midst of being acquired by Endurance, has maintained its collateralized reinsurance underwriting activities through Q1 as the contribution from its Blue Capital unit grew as a percentage of premiums written.

Rating agency opinions on the recently announced acquisition of Montpelier Re by Endurance Specialty Holdings make it clear that the addition of third-party reinsurance and ILS capital manager Blue Capital is considered positive for Endurance.

For Endurance Specialty Holdings, the addition of an established third-party reinsurance capital and ILS investments business in Blue Capital Management, thanks to the acquisition of Montpelier Re, will add capital flexibility and provide a stable source of income.

Endurance Specialty Holdings Ltd. has just announced that it is to acquire Bermudian reinsurance specialists Montpelier Re Holdings Ltd., giving the company a ready-made third-party capital and ILS investments unit in Blue Capital Management.

Blue Capital Management Ltd., the third-party reinsurance capital investment manager of Bermudian reinsurer Montpelier Re, has grown its assets under management to $790m as the collateralized reinsurance segment increased its contribution.