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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.

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