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Blue Capital - NAV Announcement

21 January 2019

Net Asset Value, December 2018

As at the close of business on 31 December 2018, the unaudited net asset value of the Company's Ordinary Shares is as follows:

 

Unaudited NAV
31 December 2018

Three Month
Performance

Year-to-Date
Performance

Ordinary Shares

$0.537

-20.5%

-23.4%

The Company’s Ordinary Share performance in the quarter to 31 December reflects initial loss estimates established for Hurricane Michael and the California Wildfires which occurred in the fourth quarter of 2018. Additionally, increased estimated losses from Typhoon Jebi (which made landfall in the third quarter of 2018) and Hurricane Irma (which made landfall in September 2017) are reflected. The reinsurance treaties underlying the Company’s investments have been subject to increased reported ultimate losses which are broadly in line with published changes in industry loss estimates for these events.

Quarterly Distribution

In accordance with the Circular of the Company dated 27 June 2018 the Company’s Liquidators are pleased to announce that, on or before 31 January 2019, an amount equal to US$3,000,000 is expected to be distributed to shareholders of the Company. Such amount will be distributed to shareholders pro rata to their holdings based on total outstanding shares of 175,448,523 and reflects a partial liquidation of the Company, with future distributions occurring on a quarterly basis to the extent sufficient funds are redeemed from the Master Fund in a given quarter.

Enquiries:

Blue Capital Management Ltd.

+1 441 278 0988

Email: investorrelations@Sompo-Intl.com

KPMG Advisory Limited

+1 441 295 5063

Mark Allitt

 

Mike Morrison

 

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