Hurricane

Montpelier launches asset management platform for institutional and retail investors

Montpelier Re has launched Blue Capital, an asset management platform offering a range of catastrophe reinsurance-linked investment products to institutional and retail investors.

Chris Harris, president and chief executive of Montpelier, says: “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.”

William Pollett, Montpelier’s chief corporate strategy and development officer, has been named president of Blue Capital Management (BCML). Jason Pratt, Montpelier’s chief investment officer, has been named president of Blue Capital Advisors, the US-based investor marketing arm of Blue Capital. Both individuals will retain their existing Montpelier roles in addition to jointly leading Blue Capital.

Adam Szakmary, previously vice president, underwriting and risk management and an underwriter with Montpelier since 2004, has been appointed portfolio manager of BCML, subject to the approval of the Bermuda Department of Immigration.

The company has also completed its initial public offering of the Blue Capital Global Reinsurance Fund, a closed-ended feeder fund which is expected to be admitted to trading on the Specialist Fund Market of the London Stock Exchange and listed on the Bermuda Stock Exchange on 6 December 2012. The fund will invest in a diversified portfolio of fully collateralised reinsurance-linked contracts and other investments carrying exposures to insured catastrophe event risks via a segregated account and will be backed by Montpelier’s analytics, risk management, claims and actuarial teams. Montpelier received final allocations to the fund of just over USD100m pursuant to the offering, of which USD50m was provided by the company.

Pollett says: “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.”

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