Blue Capital Global Reinsurance Fund Limited – Scrip Dividend Announcement

Hamilton, Bermuda – 21 February, 2014 – Blue Capital Global Reinsurance Fund Limited (the "Company" or "BCGR") today filed a statement relating to the scrip dividend. The filing read:

“The Board of Blue Capital Global Reinsurance Fund Limited (the "Company") wishes to confirm the following in respect of the scrip dividend:

Dividend period:                                              30 June 2013 to 31 December 2013

Dividend amount per ordinary share:                         US$0.044

Scrip dividend price per ordinary share:                     US$1.0816

Payment date/allotment of scrip:                                28 February 2014

Number of new ordinary shares issued:                     677,123

Total number of ordinary shares in issue as at 28 February 2014:    173,128,151

Application has been made for 677,123 ordinary shares of US$0.00001 each fully paid in the capital of the Company ("Ordinary Shares") to be admitted to trading on the London Stock Exchange's Specialist Fund Market and on the Bermuda Stock Exchange. The Company expects that the Ordinary Shares will be admitted to trading at 8.00 a.m. on 28 February 2014. Following Admission, the total number of Ordinary Shares in issue will be 173,128,151.

The application is being made pursuant to the scrip dividend alternative in lieu of cash for the dividend in respect of the period from 30 June 2013 to 31 December 2013. Elections for a scrip dividend were received in respect of c.9.7% of the Ordinary Shares in issue as at the record date of 17 January 2014. When issued, these shares will rank pari passu with the existing Ordinary Shares.

A copy of the document relating to the scrip dividend alternative dated 29 January 2014 is available to view on the Company's website at http://www.bluecapital.bm ”

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For further information please contact:

William Pollett,

President and CEO, Blue Capital Management Ltd.  +1 441-299-7576