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
TheStreet Open House

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:  prospectus.cpdg@db.com, Telephone: (800) 503-4611; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Email:  Barclaysprospectus@broadridge.com, 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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,291.30 +25.31 0.15%
S&P 500 2,009.04 -2.32 -0.12%
NASDAQ 4,572.4930 -20.9320 -0.46%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs