In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH) reported that Sompo Holdings, Inc. has picked up 2,911,518 of common stock as of 2017-03-29.
The acquisition brings the aggregate amount owned by Sompo Holdings, Inc. to a total of 2,911,518 representing a 33.3% stake in the company.
For those not familiar with the company, Blue Capital Reinsurance Holdings Ltd. provides collateralized reinsurance in the property catastrophe market and invests in various insurance-linked securities. The Company conducts its operations through its subsidiaries, including Blue Capital Re Ltd. (Blue Capital Re), which provides collateralized reinsurance, and Blue Capital Re ILS Ltd. (Blue Capital Re ILS), which conducts hedging and other investment activities. Blue Capital Re provides reinsurance to third-party insurance and reinsurance companies through reinsurance contracts, either directly with the cedant or on a fronted basis. Blue Capital Re ILS may purchase catastrophe bonds to access certain risks. Blue Capital Re or Blue Capital Re ILS may buy and sell industry loss warranties as a way to access certain risks. Blue Capital Re ILS’ portfolio may include over-the-counter or exchange-traded futures or options listed on catastrophe indexes, such as catastrophe or weather derivatives.
A glance at Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH)’s key stats reveals a current market capitalization of 163.74 Million based on 8.76 Million shares outstanding and a price at last close of $18.65 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-02-08, Weale picked up 2,800 at a purchase price of $17.78. This brings their total holding to 3,267 as of the date of the filing.
On the sell side, the most recent transaction saw Montpelier unload 51,000 shares at a sale price of $20.00. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH) as things move forward to see if its progress aligns with these transactions.
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