Blue Capital takes $6.8m hurricane hit
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.