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Blue Capital - NAV Announcement

18 April 2019

Net Asset Value, March 2019

As at the close of business on 31 March 2019, the unaudited net asset value of the Company's Ordinary Shares is as follows:

 

Unaudited NAV
31 March 2019

Three Month
Performance

Year-to-Date
Performance 

Ordinary Shares

$0.524

0.7%

0.7% 

The Company’s Ordinary Share performance in the quarter to 31 March reflects net favorable development on loss reserves established for 2017 loss events as reported losses decreased on certain treaties, partially offset by an increase in loss estimates related to 2018 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 30 April 2019, an amount equal to US$56,000,000 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.  On a per Ordinary Share basis, this partial distribution represents approximately $0.319 of NAV which will be reflected as a reduction in the valuation to be reported as at 30 June 2019.
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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