Blue Capital merges operations
Blue Capital Global Reinsurance Fund has announced that Blue Capital Insurance Managers Ltd has merged with Blue Capital Management Ltd (BCML), the company's investment manager, and BCML has continued as the surviving company.
BCML is a subsidiary of Bermuda-based reinsurer Montpelier Re and acts as the insurance manager and insurance agent to Blue Water Re Ltd, through which the company indirectly invests a significant proportion of its assets.
The merger has been effected by way of a short form merger under section 107 of the Bermuda Companies Act 1981, StockMarketWire.com reported yesterday.
All undertaking, property and liabilities of BCIML shall vest in BCML as the surviving company by operation of statute. Following the merger, in addition to continuing to act as the company's investment manager, BCML will act as the reinsurer's insurance manager and insurance agent in place of, and on the same terms as, BCIML.
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