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Blue Capital Global Reinsurance Fund Limited - Annual Financial Report – 31 December 2016
Hamilton, Bermuda – April 3, 2017 – In a filing with the Bermuda Stock Exchange (“BSX”), Blue Capital Global Reinsurance Fund Limited (the "Company", Ticker: BCGR.BH) released their annual financial report to 31 December 2016. The full filing stated:
Blue Capital Global Reinsurance Fund Limited (the "Company") announces that its Final results for period ended 31 December 2016
The Company has today, in accordance with DTR 6.3.5, released its Annual Report for the year ended 31 December 2016. The Annual Report will shortly be available from the Company's website www.bcgr.bm.
Highlights and Corporate Summary1
As at December 31, 2016
|
$171.6 million |
$204.3 million |
$1.1434 |
|
Market Capitalisation |
Total Net Assets |
Net Asset Value per Ordinary Share |
|
$1.1351 |
44.2%2 |
|
|
Net Asset Value per Redemption Share |
Total Net Asset Value Return for the year |
Total Net Asset Value Return since Inception |
|
$0.96 |
$0.066 |
|
|
Mid-market Ordinary Share price |
Dividends per Ordinary Share declared for the year |
Number of Positions invested in |
Company Highlights2
· Historic portfolio outperformance versus other insurance linked securities (“ILS”)4
· Increase in net assets of $3.6 million to $226.9 million (2015: $223.3 million)
· Increaseinnet asset value (“NAV”)of8.3 percent. for the year and 44.2 per cent. since inception, representing an annualized return of 9.6 per cent. per annum
· Positive NAV return in 94 per cent. of months since inception
· Consistently in top quartile in non-life ILS funds4
· Achieved distribution target of $0.066 per ordinary share, representing a dividend yield of LIBOR plus 6 per cent. for the period ending 31 December 2016
· Entered into a new $20 million revolving credit facility with Endurance Investment Holdings Ltd. a wholly-owned subsidiary of Endurance Specialty Holdings Ltd.
The full report can be viewed using the following link:
3 Shareholders who invest in a single Ordinary Share enjoy the benefit of investing in a share that is diversified by underlying instruments of greater than 1,500 positions in catastrophe related reinsurance contracts.
4 As reported by Eurekahedge ILS Advisors Index “Eurekahedge.” Eurekahedge tracks the performance of participating Insurance Linked Investment funds. It is the first benchmark that allows a comparison between different insurance-linked securities fund managers in the insurance-linked securities, reinsurance and catastrophe bond investment space. The index is calculated and maintained by Eurekahedge. The index includes funds that allocate at least 70 per cent. of their assets in non-life risk.