Blue Capital Re Files for Proposed IPO

October 8, 2013

Montpelier Re Holdings Ltd. and its wholly owned subsidiary Blue Capital Reinsurance Holdings Ltd. announced Monday that Blue Capital Reinsurance has filed for an initial public offering of the common shares of Blue Capital Reinsurance.

The number of shares to be offered and the price for the proposed offering have not yet been determined, the companies said.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective, the companies said in a statement, adding that the registration statement had previously been submitted to SEC on a confidential basis under the Jumpstart Our Business Startups Act of 2012.

Deutsche Bank Securities Inc. will act as book-running manager for the offering.

Montpelier Re Holdings Ltd., through its operating subsidiaries, is a provider of global property and casualty reinsurance and insurance products.

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.

Sources: Montpelier Re Holdings Ltd., Blue Capital Reinsurance Holdings Ltd.