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Blue Capital Reinsurance Holdings Ltd. (BCRH) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Blue Capital Reinsurance Holdings Ltd.

CIK: 1582086 Ticker: BCRH


Exhibit 99.1
bluecapitallogoa08.jpg
Blue Capital Reinsurance Holdings Reports Fourth Quarter 2017 Financial Results
 
HAMILTON, Bermuda - January 30, 2018 - Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH) (the "Company"), a Bermuda holding company that, through its operating subsidiaries, offers collateralized reinsurance in the property catastrophe market and invests in various insurance-linked securities, today reported its financial results for the fourth quarter of 2017.
 
The Company recorded break-even results of $0.0 million ($0.00 per share) for the fourth quarter of 2017 and a net loss of $43.2 million ($4.94 per share) for the twelve months ended December 31, 2017. The Company’s fully converted book value per common share was $14.48 at December 31, 2017, reflecting no change during the current quarter and a 23.6% decrease over the past twelve months, each inclusive of dividends declared in such periods.
 
Reinsurance premiums written for the current quarter were $6.7 million decreasing by $2.0 million over the same period a year ago while reinsurance premiums written for the full year 2017 were $46.1 million, increasing by $2.9 million over the comparable period. The decrease in the current quarter's reinsurance premium was predominantly driven by the timing of premium recognition.
 
The combined ratios for the current quarter and year-to-date were 102.3% and 201.3% compared to 61.1% and 65.0% in the same periods a year ago. The increase in the current periods' combined ratios was due to significantly higher loss and loss adjustment expense ratios. The current quarter's loss and loss adjustment expenses of $7.3 million reflected fourth quarter losses related to the California wildfires and additional estimated losses related to the third quarter hurricanes. Reinsurance acquisition costs for the current quarter were $1.9 million compared to $2.4 million a year ago, reflecting lower profit commissions driven by the reduced profitability. General and administrative expenses for the current quarter of $0.9 million were modestly lower than a year ago due to lower management and performance fees.
 
Michael J. McGuire, Chairman and CEO, commented: "Our 2017 results were driven by the significant catastrophe losses which included a record setting three Category 4 hurricanes hitting the United States, earthquakes in Mexico and wildfires in California. Collectively, the 2017 events are estimated to have generated insurance industry losses in excess of $100 billion. Our portfolio performed in line with our modeled expectations and our teams are fully engaged in efficiently settling claims for our customers. Looking forward, pricing improvements are expected through 2018, particularly in loss affected areas. At January1st renewals, pricing reflected the impact of these events as our renewing business experienced an overall price increase of 12% -- a reversal of pricing declines experienced in recent years. We remain well positioned to participate in the improving market for the benefit of our shareholders."

About the Company
 
Blue Capital Reinsurance Holdings Ltd., through its operating subsidiaries, offers collateralized reinsurance in the property catastrophe market, leveraging underwriting expertise and infrastructure from established resources. Underwriting decisions,



The following information was filed by Blue Capital Reinsurance Holdings Ltd. (BCRH) on Tuesday, January 30, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of (loss) Income And Comprehensive (loss) Income
Consolidated Statement Of Cash Flows
Consolidated Statement Of Shareholders' Equity
Basic And Diluted Earnings (loss) Per Common Share
Basic And Diluted Earnings (loss) Per Common Share (details)
Basic And Diluted Earnings (loss) Per Common Share (tables)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (policies)
Basis Of Presentation And Summary Of Significant Accounting Policies - Accounting Policies (details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Basis Of Presentation (details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (details)
Credit Agreement
Credit Agreement (details)
Derivative Instruments
Derivative Instruments (details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (details)
Income Taxes
Loss And Lae Reserve Movements
Loss And Lae Reserve Movements (claims Development, Ibnr Reserves And Claims Frequency) (details)
Loss And Lae Reserve Movements (historical Claims Duration) (details)
Loss And Lae Reserve Movements (rollfoward) (details)
Loss And Lae Reserve Movements (tables)
Regulation And Capital Requirements
Regulation And Capital Requirements (details)
Related Party Transactions
Related Party Transactions (details)
Schedule Ii - Condensed Financial Information Of The Registrant
Schedule Ii - Condensed Financial Information Of The Registrant - Condensed Balance Sheets (details)
Schedule Ii - Condensed Financial Information Of The Registrant - Condensed Statements Of (loss) Income And Comprehensive (loss) Income (details)
Schedule Ii - Condensed Financial Information Of The Registrant - Condensed Statements Of Cash Flows (details)
Schedule Iii - Supplementary Insurance Information
Schedule Iii - Supplementary Insurance Information (details)
Schedule Iv - Reinsurance
Schedule Iv - Reinsurance (details)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (details)
Selected Quarterly Financial Data (unaudited) (tables)
Share-based Compensation
Share-based Compensation (details)
Shareholders' Equity
Shareholders' Equity (details)
Written And Earned Reinsurance Premiums
Written And Earned Reinsurance Premiums (details)
Written And Earned Reinsurance Premiums (tables)
Ticker: BCRH
CIK: 1582086
Form Type: 10-K Annual Report
Accession Number: 0001582086-18-000007
Submitted to the SEC: Fri Feb 23 2018 3:34:12 PM EST
Accepted by the SEC: Fri Feb 23 2018
Period: Sunday, December 31, 2017
Industry: Fire Marine And Casualty Insurance

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