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Blue Capital Reinsurance raises cat loss forecast for Q4'18

Blue Capital Reinsurance Holdings Ltd. now anticipates $30 million in catastrophe losses, net of reinsurance and reinstatement premiums, for the fourth quarter of 2018.

The company previously said it expected $17 million of catastrophe losses, net of reinsurance and reinstatement premiums, in the quarter.

The increase is down to increased client-specific and industrywide loss reports received after the previous estimates. The losses were primarily related to Typhoon Jebi, the California wildfires and Hurricane Irma.

Based on the updated estimates, the company's year-end 2018 fully converted book value per common share is now expected to be between $10.00 and $10.50.