Montpelier Re Holdings in Hamilton, Bermuda, said it is investing $133 million in a new Bermuda reinsurer, Blue Ocean Reinsurance Ltd, which will offer retrocessional protection in the property catastrophe market.
Together with commitments from other investors, Montpelier said Blue Ocean has been capitalized with commitments for $300 million of common and preferred equity.
According to Montpelier, Blue Ocean will provide fully collateralized retrocessional protection to parties other than Montpelier. With the support of such collateral for its retrocessional contracts, Blue Ocean has no current plans to obtain a rating from any rating agency, Montpelier said.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
