Blue Capital Re (BCRH) Misses Q2 EPS by 17c, Revenues Miss

Blue Capital Re (NYSE: BCRH) reported Q2 EPS of $0.28, $0.17 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $7.7 million versus the consensus estimate of $13.5 million.

Michael J. McGuire, Chairman and CEO, commented: "While the second quarter and year to date results have been impacted by an increase in estimated losses related to Hurricane Irma, the Company generated an attractive combined ratio of 73.5% in the quarter and successfully deployed capital during the mid year renewal period. During the June 1st renewals this year, Blue Capital was able to achieve an overall rate increase of 4.5% on its renewed portfolio. The mid-year renewal period was characterized by an abundance of capital and strong appetite for Florida business. Early renewals achieved higher rate increases than those completed later in the period as there was an increasing urgency from a number of markets to deploy capital as the renewals progressed.

"The market improvements experienced so far during 2018 coupled with our strategic alignment with Sompo International Holdings Ltd., have enabled us to construct an improved portfolio year over year with increased expected returns and a lower risk profile."

For earnings history and earnings-related data on Blue Capital Re (BCRH) click here.

You May Also Be Interested In

• Outlook Therapeutics (OTLK) Misses Q3 EPS by 9c
• Rein Therapeutics Inc. (RNTX) Tops Q2 EPS by 39c
• Tenon Medical (TNON) Misses Q2 EPS by 395c