Blue Capital takes $6.8m hurricane hit

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  • After the storm: an abandoned truck lies in submerged waters after Hurricane Matthew hit Lumberton, North Carolina, last month. Blue Capital Global Reinsurance Fund has reported a $6.8 million loss in October, primarily related to the hurricane

    After the storm: an abandoned truck lies in submerged waters after Hurricane Matthew hit Lumberton, North Carolina, last month. Blue Capital Global Reinsurance Fund has reported a $6.8 million loss in October, primarily related to the hurricane
    (Photograph by Jonathan Drake)


Blue Capital Global Reinsurance Fund Limited recorded a $6.8 million loss in October, primarily related to Hurricane Matthew.

Ordinary shares of the company had an unaudited net asset value of $1.1216 at the end of October, which was 0.2 per cent down for the month. The year-to-date performance, as of October 31, is reported as 6.2 per cent.

Regarding the October losses, led by Matthew, the company said in a statement: “The investment manager continues its normal post-event procedures to estimate any loss to the company, and continues to monitor these events for any further impact to the company.”

Matthew, which at its peak was a Category 5 hurricane, affected parts of Cuba, Haiti, Dominican Republic and the southeastern US last month.

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Published Nov 22, 2016 at 8:00 am (Updated Nov 21, 2016 at 6:40 pm)

Blue Capital takes $6.8m hurricane hit

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