Blue Capital Global Reinsurance Fund : Scrip Dividend Announcement

10 March 2016

Blue Capital Global Reinsurance Fund Limited

The Board of Blue Capital Global Reinsurance Fund Limited (the 'Company') wishes to confirm the following in respect of the scrip dividend:

Dividend period:	1 July 2015 to 31 December 2015
Dividend amount per ordinary share:	US$0.033
Scrip dividend price per ordinary share:	US$1.0935
Payment date/allotment of scrip:	15 March 2016
Number of new ordinary shares issued:	3,588
Total number of ordinary shares in issue as at 15 March 2016:	199,108,914

Application has been made for 3,588 ordinary shares of US$0.00001 each fully paid in the capital of the Company ('Ordinary Shares') to be admitted to trading on the London Stock Exchange's Specialist Fund Market and on the Bermuda Stock Exchange. The Company expects that the Ordinary Shares will be admitted to trading at 8.00 a.m. on 15 March 2016. Following Admission, the total number of Ordinary Shares in issue will be 199,108,914.

The application is being made pursuant to the scrip dividend alternative in lieu of cash for the dividend in respect of the period from 1 July 2015 to 31 December 2015. Elections for a scrip dividend were received in respect of c.0.06% of the Ordinary Shares in issue as at the record date of 29 January 2016. When issued, these shares will rank pari passu with the existing Ordinary Shares.

A copy of the document relating to the scrip dividend alternative dated 12 February 2016 is available to view on the Company's website at http://ir-bcgr.bluecapital.bm/phoenix.zhtml?c=254067&p=irol-reportsother.

For further information please contact:

Adam Szakmary, Chief Executive Officer [phone]

Blue Capital Management Ltd

[e-mail]