Blue Capital Global Reinsurance Fund Limited - SHARE BUY-BACK ENGAGEMENT

Hamilton, Bermuda – May 25, 2017 – In a filing with the Bermuda Stock Exchange (“BSX”), Blue Capital Global Reinsurance Fund Limited (the "Company", Ticker: BCGR.BH) announced a share buy-back engagement.  The full filing stated:

The Board is pleased to announce that it has engaged Stifel Nicolaus Europe Limited ("Stifel") to effect  buy backs of ordinary shares ("Shares") on behalf of the Company (the "Engagement"). Any repurchases pursuant to the Engagement will be accretive to NAV per Share.

Under the Engagement, Stifel may effect on-market purchases of the Shares from time to time at its absolute discretion (and during any Closed Period will do so independently of, and without influence by, the Company) provided that the maximum price payable for a Share on the specialist fund segment of the Main Market of the London Stock Exchange is an amount equal to the higher of:

(a) an amount equal to 105 per cent. of the average closing price for a Share of the relevant class on the London Stock Exchange for the five Business Days immediately preceding the day on which the Shares are purchased; and

(b) the higher of (A) the price of the last independent trade; and (B) the highest current independent bid, for a Share of the relevant class on the London Stock Exchange at the time the purchase is carried out, as stipulated by Article 3(2) of Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the “Buy-Back and Stabilisation Regulation”).

Share buy-backs under the Engagement will be conducted in accordance with the authority granted to the Company at its annual general meeting held on 9 May 2017, but the Board advises shareholders there can be no certainty that the Company will acquire any Shares under this Engagement. The Engagement will commence with effect from today and will, unless extended or terminated earlier, end on 30 November 2017.

A buy-back of Shares pursuant to the Engagement on any trading day may represent a significant proportion of the daily trading volume in the Shares on the Trading Venue (and could exceed the 25% limit of the average daily trading volume limits as referred to in Article 3(3) of the Buy-Back and Stabilisation Regulation).

The Company will announce any market repurchase of Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. Shares bought back under the Engagement may be cancelled or held in treasury.

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