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Bermuda : MONTPELIER RE HOLDINGS unveils asset management platform.

Montpelier Re Holdings Ltd. has unveiled an asset management platform named Blue Capital.

According to the firm, this asset management platform will provide various innovative catastrophe reinsurance-linked investment products to institutional and retail investors.

Montpelier has been successfully managing third-party capital since 2004, and Blue Capital represents the latest step in the expansion of our underwriting partnership business. Blue Capital broadens the product mix we can offer clients, and investors benefit from Montpelier s long-established underwriting expertise and relationships, said Chris Harris, President and CEO of Montpelier Re Holdings.

William Pollett, Chief Corporate Strategy and Development Officer of Montpelier, has been appointed as President of Blue Capital Management Ltd. (BCML). Jason Pratt, CIO of Montpelier, has been appointed as President of Blue Capital Advisors Ltd., the US based investor marketing division of Blue Capital. Both Pollett and Pratt will continue existing positions with Montpelier. Adam Szakmary, former VP of Underwriting and Risk Management and underwriter at Montpelier since 2004, has become Portfolio Manager of BCML. This appointment is subject to the approval of Bermuda Department of Immigration.

Montpelier has also closed its initial public offering of Blue Capital Global Reinsurance Fund Ltd., a closed-ended feeder fund, which is likely to trade on Specialist Fund Market of London Stock Exchange and list on Bermuda Stock Exchange on December 6, 2012.

This fund will mainly invest in a diversified portfolio of completely collateralised reinsurance-linked contracts and other investments with exposures to insured catastrophe event risks through a segregated account. It will be supported by Montpelier s dedicated analytics, risk management, claims and actuarial teams.

Blue Capital is delighted to launch this listed fund which will provide targeted exposure to the reinsurance market via a partnership with Montpelier s global property catastrophe franchise. We believe Montpelier s reach and expertise will allow Blue Capital to construct a diversified portfolio with attractive risk-adjusted return characteristics, said Pollett.

BCML has selected Prime Management Ltd. to carry out fund administration services, such as keeping the books and records for the platform s Master Fund, analyzing the net asset value of Master Fund s shares and offering certain other administration services.

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Publication:Mena Report
Date:Dec 11, 2012
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