Informa Insurance News 24
WINDING-DOWN BLUE CAPITAL PAYS $5M TO SHAREHOLDERS
Insurance-linked securities fund Blue Capital paid out $5m to shareholders in the fourth quarter as it continued to wind down its operations. Partially offsetting the distribution was a benefit of approximately $400,000 related to positive adjustments to premiums and acquisition expenses, coupled with losses that were lower than anticipated. At the end of the period, net assets in liquidation stood at $67.3m, down $4.6m. “We continue to efficiently manage the run-off of the business and anticipate delisting from the New York Stock Exchange in March to reduce our operating expenses,” Michael McGuire, chairman and chief executive, said.