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Blue Capital Global Reinsurance Fund Limited – Appointment of Independent Accounting Firm
Hamilton, Bermuda – 16 July, 2015 – In a filing with the Bermuda Stock Exchange (“BSX”), Blue Capital Global Reinsurance Fund Limited (the "Company" or "BCGR"; BSX Ticker: BCGR.BH) today announced the engagement of Ernst & Young Ltd. as its independent registered public accounting firm. The filing reads:
Further to the announcement on 3 July 2015, the Board of Directors of Blue Capital Global Reinsurance Fund Limited (the “Company”), upon recommendation of its Audit Committee, has approved the engagement of Ernst & Young Ltd. (“E&Y”) as its independent registered public accounting firm following the resignation of PricewaterhouseCoopers Ltd. (“PwC”) on 30 June 2015. As previously announced, PwC resigned due to an impending independence conflict arising out of the proposed acquisition (the “Merger”) of Montpelier Re Holdings Ltd. (“Montpelier”) by Endurance Specialty Holdings Ltd. (“Endurance”). The appointment of E&Y was effective 15 July 2015 and will be put to shareholders at the Company's 2016 annual general meeting.
The Merger remains subject to other customary closing conditions, including receipt of regulatory approvals. Endurance and Montpelier expect to complete the Merger in the third quarter of 2015.
For further information please contact:
William Pollett,
President and CEO, Blue Capital Management Ltd. +1 441-299-7576
bill.pollett@bluecapital.bm
Gary Gould/Alex Collins +44 20 7029 8000
Jefferies International Limited