Blue Capital Still Pays For The Sins Of The Past [Seeking Alpha]
BLUE CAPITAL REINSURANCE HOLDINGS (BCRH)
Last blue capital reinsurance holdings earnings: 5/2 04:30 pm
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US:NYSE Investor Relations:
ir-bcrh.bluecapital.bm/blue-capital-reinsurance-holdings-ltd
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Source: Seeking Alpha
Summary Executive Summary On the first of August, Blue Capital Reinsurance ( BCRH ) released its Q2 results. The $2.5 million reported net income was lower than in Q2 2017. Nevertheless, the adverse impact of the hurricane Irma was lower than in Q1 2018. On the other hand, the dividend was still uncovered by the profit of the company, which continued to pay the price of its past sins, the underestimation of the reserves. Paying For The Sins Of The Past In spite of the improvement in the quarterly profitability compared to the prior quarter, the year-to-date combined ratio remained higher compared to 2017. The combined ratio for the first six months of 2018 amounted to 86.2%, or a 29.9 percentage point deterioration. Blue Capital’s Q2 2018 Report Combined effects drove the worsening in the combined ratio: the decrease in the premiums, due to the greater cessions to third-party reinsurers and the continuous burden of Irma. During the three and six months
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