BLUE CAPITAL RE SWINGS TO $24.9M LOSS ON CAT LOSSES

Blue Capital Reinsurance unit swung to a fourth-quarter net loss of $24.9m from breakeven quarter a year. Losses were tied to the current period’s Hurricane Michael and California wildfires and additional losses from the previously reported typhoon Jebi and Hurricane Irma. The combined ratio rose to 308.8% in the quarter from 102.3%. For the full year, the Sompo International unit’s net loss narrowed to $28.6m from $43.2m. The Bermudian company said expected annual premiums arising from January renewals fell to $15.1m from $27.8m owing to lower available collateral and nonrenewal of several underperforming accounts.