This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Blue Capital Reinsurance Holdings Ltd. Announces Closing Of Its Initial Public Offering

Montpelier Re Holdings Ltd. (“Montpelier”) (NYSE: MRH) and Blue Capital Reinsurance Holdings Ltd. (“Blue Capital Reinsurance”) (NYSE:BCRH) today announced that Blue Capital Reinsurance has closed the previously announced initial public offering of Blue Capital Reinsurance’s common shares. Blue Capital Reinsurance sold 6,250,000 common shares at a price of $20.00 per share in the initial public offering for gross proceeds of $125 million. The underwriters have a 30-day option to purchase up to 937,500 additional common shares from Blue Capital Reinsurance at the public offering price, less the underwriting discount. Concurrently with the completion of the initial public offering of Blue Capital Reinsurance, Montpelier Reinsurance Ltd., a wholly owned subsidiary of Montpelier, purchased 2,500,000 common shares at a price of $20.00 per share in a private placement for gross proceeds of $50 million.

The common shares of Blue Capital Reinsurance began trading on the New York Stock Exchange on November 6, 2013, under the symbol “BCRH”.

Deutsche Bank Securities Inc., Barclays Capital Inc., Keefe, Bruyette & Woods, Inc., Raymond James & Associates, Inc., UBS Securities LLC and RBC Capital Markets, LLC acted as joint bookrunners and Sterne, Agee & Leach, Inc. acted as co-manager for the offering.

A registration statement relating to the initial public offering of the common shares of Blue Capital Reinsurance was declared effective by the U.S. Securities and Exchange Commission on November 5, 2013. This press release shall not constitute an offer to sell or the solicitation of an offer to purchase nor shall there be any sale of common shares of Blue Capital Reinsurance in any state in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities law in any such state.

Copies of the final prospectus may be obtained from: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, Email:, Telephone: (800) 503-4611; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Email:, Telephone: (888) 603-5847; or UBS Securities LLC, Attention: Prospectus Dept., 299 Park Avenue, New York, NY 10171, Telephone: (888) 827-7275.

About Blue Capital Reinsurance Holdings Ltd.

Blue Capital Reinsurance Holdings Ltd. is a newly formed Bermuda reinsurance holding company seeking primarily to offer collateralized reinsurance in the property catastrophe market, by underwriting a diversified portfolio of short-tail reinsurance contracts and investing in insurance-linked securities.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs