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Blue Capital Global Reinsurance Fund Limited – Market Announcement
Hamilton, Bermuda – 24 December, 2014 – Blue Capital Global Reinsurance Fund Limited (the "Company" or "BCGR") has filed notice of a related company merger for the information of the market. The filing states:
“Merger of Blue Capital Management Ltd. and Blue Capital Insurance Managers Ltd.
Blue Capital Global Reinsurance Fund Limited (the "Company") wishes to announce that, with effect from 15 December 2014, Blue Capital Insurance Managers Ltd. ("BCIML") has merged with Blue Capital Management Ltd. ("BCML"), the Company's investment manager, and BCML has continued as the surviving company. Among other things, BCIML acts as the insurance manager and insurance agent to Blue Water Re Ltd., (the "Reinsurer") through which the Company indirectly invests a significant proportion of its assets.
The merger has been effected by way of a short form merger under section 107 of the Bermuda Companies Act 1981, as amended. All undertaking, property and liabilities of BCIML shall vest in BCML as the surviving company by operation of statute. Following the merger, in addition to continuing to act as the Company's investment manager, BCML will act as the Reinsurer's insurance manager and insurance agent in place of, and on the same terms as, BCIML.
BCML is licensed to conduct investment business by the Bermuda Monetary Authority and is registered as an investment adviser with the US Securities and Exchange Commission and, upon the merger becoming effective, shall be registered as an insurance manager and insurance agent under the Bermuda Insurance Act 1978, as amended.”
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For further information please contact:
William Pollett
President and CEO, Blue Capital Management Ltd.
+1 441-299-7576