Blue Capital Reinsurance Holdings Ltd. Comments on Endurance Acquisition
October 06 2016 - 8:00AM
HAMILTON, Bermuda - October 6, 2016 - Blue Capital
Reinsurance Holdings Ltd. (NYSE:BCRH); ("Company")
The Company's Board of Directors reports that
Endurance Specialty Holdings Ltd. ("Endurance"), the parent company
of Blue Capital Management Ltd. ("Blue Capital"), the Company's
investment manager, announced on October 5, 2016 that it has
entered into a definitive merger agreement pursuant to which it
will be acquired by Sompo Holdings, Inc. (subject to the
satisfaction of certain conditions). The Company does not
anticipate any changes in the management of Blue Capital and all
members of the Endurance Executive Team have agreed to continue in
their current roles following the acquisition for at least five
years.
About Blue Capital
The Company, through its operating subsidiaries,
offers collateralized reinsurance in the property catastrophe
market, leveraging underwriting expertise and infrastructure from
established resources. Underwriting decisions and operations and
other management services are provided to Blue Capital by
subsidiaries of Endurance Specialty Holdings Ltd. (NYSE:ENH), a
recognized global specialty provider of property and casualty
insurance and reinsurance and a leading property catastrophe and
short tail reinsurer since 2001. Additional information can be
found in Blue Capital's public filings with the Securities and
Exchange Commission or at www.bcapre.bm.
Contact
Investor Relations
Phone: +1 441 278 0988
Email: investorrelations@endurance.bm
# # #
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Endurance Specialty Holdings Ltd via
Globenewswire
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