Blue Capital Reinsurance (BCRHF) 10-K 1 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 25, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	BLUE CAPITAL REINSURANCE HOLDINGS LTD.
Entity Central Index Key	1,582,086
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Public Float			$ 64,674,500
Entity Common Stock, Shares Outstanding		8,767,165
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 2.2	$ 6
Reinsurance premiums receivable	8.9	11.1
Deferred reinsurance acquisition costs	0.1	0.1
Funds held by ceding companies	150.4	164.8
Other assets	1.7	0.2
Total Assets	163.3	182.2
Liabilities
Loss and loss adjustment expense reserves	49.9	43.4
Unearned reinsurance premiums	0.8	1
Short-term Debt	4
Reinsurance balances payable	16.4	10.1
Other liabilities (See Note 11)	1.5	0.6
Total Liabilities	72.6	55.1
Shareholders’ Equity
Common Shares at $1.00 par value per share - 100,000,000 shares authorized; 8,767,165 (2017: 8,761,229) shares issued and outstanding	8.8	8.8
Additional paid-in capital	157.8	165.6
Retained deficit	(75.9)	(47.3)
Total Shareholders’ Equity	90.7	127.1
Total Liabilities and Shareholders’ Equity	$ 163.3	$ 182.2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common shares, par value (in dollars per share)	$ 1	$ 1
Common shares authorized (in shares)	100,000,000	100,000,000
Common shares issued (in shares)	8,767,165	8,761,229
Common shares outstanding (in shares)	8,767,165	8,761,229

CONSOLIDATED STATEMENT OF (LOSS

CONSOLIDATED STATEMENT OF (LOSS) INCOME AND COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenues
Reinsurance premiums written	$ 33.2	$ 46.1
Change in net unearned reinsurance premiums	0.2	(0.1)
Net reinsurance premiums earned	33.4	46
Net gain from derivative instruments	0	2.3
Net investment income	2	1.1
Total revenues	35.4	49.4
Underwriting expenses:
Loss and loss adjustment expenses	50.5	79
Reinsurance acquisition costs	9	8.7
General and administrative expenses	4.5	4.9
Non-underwriting expenses:
Total expenses	64	92.6
Net (loss) income	(28.6)	(43.2)
Comprehensive (loss) income	$ (28.6)	$ (43.2)
Per share data:
Basic and diluted (loss) earnings per Common Share (in dollars per share)	$ (3.27)	$ (4.94)
Dividends declared per Common Share and RSU (in dollars per share)	$ 0.9	$ 1.49

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Shares at par value	Additional paid-in capital	Retained (deficit) earnings
Balance at the start of the period at Dec. 31, 2016	$ 183.3	$ 8.8	$ 165.5	$ 9
Increase Decrease in Shareholders' Equity
Net loss	(43.2)	0	0	(43.2)
Expense recognized for RSUs	0.1	0	0.1	0
Dividends declared - Common Shares and RSUs	(13.1)	0	0	(13.1)
Balance at the end of the period at Dec. 31, 2017	127.1	8.8	165.6	(47.3)
Increase Decrease in Shareholders' Equity
Net loss	(28.6)	0	0	(28.6)
Expense recognized for RSUs	0.1	0	0.1	0
Dividends declared - Common Shares and RSUs	(7.9)	0	(7.9)	0
Balance at the end of the period at Dec. 31, 2018	$ 90.7	$ 8.8	$ 157.8	$ (75.9)

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows provided by operations:
Net loss	$ (28.6)	$ (43.2)
Charges to reconcile net loss to net cash provided by operations:
Expense recognized for RSUs	0.1	0.1
Net change in:
Loss and loss adjustment expense reserves	6.5	32.3
Unearned reinsurance premiums	(0.2)	0.1
Reinsurance balances payable	6.3	3
Reinsurance premiums receivable	2.2	(3.4)
Funds held by ceding companies	14.4	26.6
Other liabilities	0.9	(1.7)
Other assets	1.5	(0.6)
Net cash and cash equivalents provided by operations	0.1	14.4
Net cash and cash equivalents used in investing activities	0	0
Cash flows used in financing activities:
Dividends paid - Common Shares and RSUs	(7.9)	(13.1)
Borrowings under the Credit Agreement	4	0
Repayment of borrowings under the Credit Agreement	0	0
Net cash and cash equivalents used in financing activities	(3.9)	(13.1)
Net (decrease) increase in cash and cash equivalents during the period	(3.8)	1.3
Cash and cash equivalents - beginning of period	6	4.7
Cash and cash equivalents - end of period	$ 2.2	$ 6

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	NOTE 1. Summary of Significant Accounting Policies Basis of Presentation and Overview Blue Capital Reinsurance Holdings Ltd. (the "Company" or the "Registrant") is a Bermuda exempted limited liability company that, through its subsidiaries (collectively "Blue Capital"), provides collateralized reinsurance in the property catastrophe market and invests in various insurance-linked securities. The Company was incorporated under the laws of Bermuda on June 24, 2013, commenced operations on November 12, 2013. The Company’s headquarters and principal executive offices are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda, which is also our registered office. The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP"). All significant intercompany accounts and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues earned and expenses incurred during the period. Actual results could differ materially from those estimates. The significant estimates reflected in the Company’s consolidated financial statements include, but are not limited to, loss and loss adjustment expense ("LAE") reserves and written and earned reinsurance premiums. The Company’s Common Shares trade on the New York Stock Exchange under the symbol "BCRH" and on the Bermuda Stock Exchange under the symbol "BCRH.BH." At December 31, 2018 , Sompo International together with its wholly owned subsidiary, Endurance Specialty Insurance Ltd. ("Endurance Bermuda"), owned 33.2% of the Company's outstanding Common Shares. Sompo Holdings, Inc. is the ultimate beneficial owner of 33.2% of the Company's outstanding Common Shares through its ownership of Sompo International. The Company operates as a single business segment through its wholly-owned subsidiaries: (i) Blue Capital Re Ltd. ("Blue Capital Re"), a Bermuda Class 3A insurer, which provides collateralized reinsurance; and (ii) Blue Capital Re ILS Ltd. ("Blue Capital Re ILS"), a Bermuda exempted limited liability company, which conducts hedging and other investment activities, including entering into industry loss warranties and related instruments, in support of Blue Capital Re’s operations. The Company’s business strategy is to build and maintain a diversified portfolio of reinsurance risks that are intended to generate underwriting profits, which it intends principally to distribute to its shareholders through the payment of dividends, with returns commensurate with the amount of risk assumed. The Company seeks to provide its shareholders with the opportunity to own an alternative asset class whose returns are believed to have historically been largely uncorrelated to those of other asset classes, such as global equities and bonds. Subject to the discretion of the Company’s board of directors (the "Board"), the Company intends to distribute through dividends or repurchases of Common Shares a minimum of 90% of its annual Distributable Income to its holders of Common Shares and RSUs. "Distributable Income," a non-GAAP measure, means GAAP net income plus (minus) non-cash expenses (revenues) recorded in net income for the period. Subject to the discretion of the Board, the Company intends to make regular quarterly dividend payments for each of the first three quarters of each year, followed by Common Share repurchases or a fourth special dividend after the end of the year to meet its income distribution target for each calendar year. Through each of the following roles and relationships, Blue Capital leverages Sompo International’s reinsurance underwriting expertise and infrastructure to conduct its business: (i) Blue Capital Management Ltd. (the "Manager"), a wholly-owned subsidiary of Sompo International, manages Blue Capital Re’s and Blue Capital Re ILS’ reinsurance underwriting decisions; (ii) Blue Water Re Ltd., Sompo International’s wholly-owned special purpose insurance and reinsurance vehicle, is a significant source of reinsurance business for Blue Capital Re; and (iii) certain employees of Sompo International also serve as the Company’s Chief Executive Officer (the "CEO"), the Company’s Chief Financial Officer (the "CFO"), and as two of the Company’s five directors, including the role of Chairman of the Board. NOTE 1. Summary of Significant Accounting Policies, cont'd The Company qualifies as a "smaller reporting company" as defined in Rule 405 of the Securities Act of 1933; Item 10(f) of Regulation S-K; and Rule 12b-2 under the Securities Exchange Act of 1934. As a result, the Company is allowed to provide scaled disclosures under Regulations S-K and Regulation S-X. Cash and Cash Equivalents Blue Capital’s cash and cash equivalents of $2.2 million and $6.0 million at December 31, 2018 and 2017 , respectively, consist of cash and fixed income investments with maturities of less than three months, as measured from the date of purchase. For all periods presented, the amortized cost of each of Blue Capital’s cash equivalents approximated their fair value. Amounts Held in Trust for the Benefit of Ceding Companies Blue Capital Re does not operate with a financial strength rating and, instead, fully collateralizes its reinsurance obligations through cash and cash equivalents held in various trust funds established for the benefit of ceding companies. As of December 31, 2018 and 2017 , Blue Capital had pledged none of its cash and cash equivalents to trust accounts established for the benefit of third parties. As of December 31, 2018 and 2017 , Blue Capital had transferred $150.4 million and $164.8 million of its cash and cash equivalents to a trust account established by Blue Water Re for its benefit pursuant to the BW Retrocessional Agreement (see below). These amounts are presented on the Company’s Consolidated Balance Sheets as "funds held by ceding companies." Reinsurance Premiums and Acquisition Costs Blue Capital Re writes reinsurance contracts on both an excess-of-loss and a pro-rata basis. For excess-of-loss contracts, written premiums are typically based on the deposit or minimum premium specified in the reinsurance contract. For pro-rata contracts, written premiums are recognized based on estimates of ultimate premiums provided by either the ceding companies or the Manager. All of Blue Capital Re’s reinsurance contracts are currently being written on a losses-occurring basis, which means that all loss events occurring during the period of the contract are covered, regardless of the inception dates of the underlying policies. Any loss events occurring after the expiration of a losses-occurring contract are not covered. For reinsurance contracts which incorporate minimum premium amounts, Blue Capital Re typically writes the entire ultimate premium at inception, and earns the associated premium after the premium is written over the term of the contract. For reinsurance contracts which do not incorporate minimum premium amounts, Blue Capital Re typically writes the premium over the term of the contract, and earns the associated premium in the same periods that the premium is written. Subsequent adjustments of written premium, based on reports of actual premium by the ceding companies, or revisions in estimates of ultimate premium, are recorded in the period in which they are determined. Such adjustments are generally determined after the associated risk periods have expired, in which case the premium adjustments are fully earned when written. Unearned reinsurance premiums represent the portion of premiums written that are applicable to future reinsurance coverage provided by in-force contracts. Reinsurance premiums receivable are recorded at amounts due less any provision for doubtful accounts. As of December 31, 2018 and 2017 , Blue Capital Re did not require a provision for doubtful accounts. NOTE 1. Summary of Significant Accounting Policies, cont'd When a reinsurance contract provides for a reinstatement of coverage following a covered loss, the associated reinstatement premiums are recorded as both written and earned when Blue Capital Re determines that such a loss event has occurred. Deferred reinsurance acquisition costs are comprised of commissions, brokerage costs, premium taxes and excise taxes, each of which relates directly to the writing of reinsurance contracts. Deferred reinsurance acquisition costs are typically amortized over the underlying risk period of the related contracts. However, if the sum of a contract’s expected losses and LAE and deferred reinsurance acquisition costs exceeds related unearned premiums and any projected investment income, a premium deficiency is determined to exist. In this event, deferred reinsurance acquisition costs are immediately expensed to the extent necessary to eliminate the premium deficiency. If the premium deficiency exceeds deferred reinsurance acquisition costs, a liability is accrued for the excess deficiency. There were no premium deficiency adjustments recognized during the periods presented. Profit commissions incurred are included in reinsurance acquisition costs within the Company’s Consolidated Statement of Loss and Comprehensive Loss. Accrued profit commissions payable are included in reinsurance balances payable within the Company’s Consolidated Balance Sheets. Reinsurance Balances Payable Reinsurance balances payable consist of: (i) losses and LAE that have been approved for payment; and (ii) profit commissions payable. As of December 31, 2018 and 2017 , Blue Capital Re had reinsurance balances payable of $16.4 million and $10.1 million , respectively. Ceded Reinsurance In the normal course of business, Blue Capital Re may purchase reinsurance directly or elect to participate in inuring reinsurance or retrocessional protection made available by its ceding companies. The amount of reinsurance that Blue Capital Re may buy or participate in will vary from year to year depending on its risk appetite, as well as the availability and cost of the reinsurance coverage. Ceded reinsurance premiums will be accounted for on a basis consistent with those used in accounting for the underlying reinsurance premiums assumed and will be reported as a reduction of net reinsurance premiums written and earned. Under Blue Capital Re’s reinsurance security policy, its reinsurers are typically required to be rated "A-" (Excellent) or better by A.M. Best (or an equivalent rating with another recognized rating agency) at the time the policy is written. Blue Capital Re also considers reinsurers that are not rated or do not fall within this threshold on a case-by-case basis if collateralized up to policy limits, net of any premiums owed. The Manager will monitor the financial condition and ratings of Blue Capital’s reinsurers on an ongoing basis. As of December 31, 2018 , Blue Capital Re has never purchased any reinsurance. For all periods presented, all of the ceded reinsurance protection underlying Blue Capital Re's results was originated pursuant to the BW Retrocessional Agreement. Derivative Instruments Current accounting guidance requires the recognition of all derivative financial instruments including embedded derivative instruments, as either assets or liabilities in the Consolidated Balance Sheets at fair value. The Company participates in derivative instruments in the form of industry loss warranty swaps as a way to access or hedge certain risks. Derivatives are recorded at fair value with changes in fair value and any gains or losses recognized in net gain (loss) from derivative instruments in the Consolidated Statements of Loss and Comprehensive Loss. NOTE 1. Summary of Significant Accounting Policies, cont'd Fair Value Hierarchy GAAP establishes a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value of certain assets and liabilities into the three broad levels described below. The level in the hierarchy within which a given fair value measurement falls is determined based on the lowest level input that is significant to the measurement. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date, Level 2 inputs are inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly, and Level 3 inputs are unobservable inputs (i.e., on the basis of pricing models with significant unobservable inputs or non-binding broker quotes) for the asset or liability.

Loss and LAE Reserve Movements

Loss and LAE Reserve Movements	12 Months Ended
	Dec. 31, 2018
Insurance Loss Reserves [Abstract]
Loss and LAE Reserve Movements	NOTE 2. Loss and LAE Reserve Movements The following table summarizes Blue Capital Re’s loss and LAE reserve movements for the years ended December 31, 2018 and 2017 : Year Ended Year Ended ($ in millions) December 31, 2018 December 31, 2017 Gross and net unpaid loss and LAE reserves - beginning $ 43.4 $ 11.1 Losses and LAE incurred: Current year losses 31.5 77.9 Prior year losses 19.0 1.1 Total incurred losses and LAE 50.5 79.0 Losses and LAE paid and approved for payment: Current year losses (13.6 ) (40.4 ) Prior year losses (30.4 ) (6.3 ) Total losses and LAE paid and approved for payment (44.0 ) (46.7 ) Gross and net unpaid loss and LAE reserves - ending $ 49.9 $ 43.4 Loss and LAE reserves are comprised of case reserves (which are based on claims that have been reported) and incurred but not reported ("IBNR") reserves (which are based on losses that are believed to have occurred but for which claims have not yet been reported and may include a provision for expected future development on existing case reserves). Case reserves are set on the basis of loss reports received from third parties. IBNR reserves are estimated by management using various actuarial methods as well as a combination of the Manager’s own loss experience, historical industry loss experience and management and the Manager’s professional judgment. The uncertainties inherent in the reserving process and potential delays by cedants and brokers in the reporting of loss information, together with the potential for unforeseen adverse developments, may result in loss and LAE reserves ultimately being significantly greater or less than the reserve provided at the end of any given reporting period. The degree of uncertainty is further increased when a significant loss event takes place near the end of a reporting period. Estimated ultimate losses for Hurricane Michael, Hurricane Florence, Typhoon Jebi, and the California fires which occurred in the latter half of 2018 are subject to particularly high uncertainty, as the large magnitude and recent occurrence of these events make damages particularly difficult to assess. In addition, there is a great deal of uncertainty regarding the extent to which judicial and regulatory rulings will cause uncovered perils, such as flood, to be covered by the ceding companies, which further increases the uncertainty around the ultimate loss estimates. Loss and LAE reserve estimates are regularly reviewed and updated as new information becomes known. Any resulting adjustments are reflected in income in the period in which they become known. Blue Capital Re’s reserving process is highly dependent on loss information received from its cedants and the Manager. NOTE 2. Loss and LAE Reserve Movements, cont'd During 2018 , Blue Capital Re’s estimated ultimate loss for prior period accident years was increased by $19.0 million due to the emergence of claims exceeding previous estimates of losses and LAE related to 2017 catastrophe events, primarily Hurricane Irma, which made landfall in the U.S. in September 2017. During 2017 , Blue Capital Re’s estimated ultimate loss for prior period accident years was increased by $1.1 million due to the emergence of claims in excess of amounts previously estimated on a number of events occurring in 2016, partially offset by a reduction in loss estimates for 2014 and 2015 accident years. The Company’s loss and LAE reserves are generally derived from property catastrophe reinsurance contracts which provide protection to the ceding company against losses from earthquakes and hurricanes, as well as other natural and man-made catastrophes such as floods, tornadoes, storms and fires ("covered perils"). The predominant exposures covered by these contracts are losses stemming from property damage and business interruption resulting from a covered peril. The reinsurance contracts that the Company participates in have broadly similar characteristics including the type of coverage, market and claim duration and we operate as a single business segment. As such, the following information is not disaggregated beyond the segment level and is not obscured by either the inclusion of a large amount of insignificant detail or the aggregation of items that have significantly different characteristics. Claims Development Tables The following tables show the development of the reserve for losses and LAE by accident year at December 31, 2018 . Information presented for the years ended December 31, 2017 , 2016 , 2015 and 2014 is required supplementary information and is unaudited. Cumulative incurred losses and allocated LAE For the years ended December 31, Accident year 2014 2015 2016 2017 2018 2014 $ 17.1 $ 16.5 $ 16.5 $ 16.0 $ 15.9 2015 — 3.2 3.2 2.9 2.9 2016 — — 13.7 15.6 14.5 2017 — — — 77.9 98.1 2018 — — — — 31.5 Total $ 162.9 Cumulative paid losses and allocated LAE For the years ended December 31, Accident year 2014 2015 2016 2017 2018 2014 $ 9.2 $ 14.5 $ 15.5 $ 15.7 $ 15.8 2015 — 1.2 2.1 2.7 2.8 2016 — — 4.7 10.2 12.1 2017 — — — 40.4 68.7 2018 — — — — 13.6 Total $ 113.0 Total loss and LAE reserves at December 31, 2018 $ 49.9 NOTE 2. Loss and LAE Reserve Movements, cont'd IBNR Reserves and Claims Frequency The following table shows Blue Capital Re's incurred losses and LAE, IBNR reserves and cumulative number of reported claims by accident year as of December 31, 2018 . A claim is defined as a reported loss from a cedant on an excess-of-loss reinsurance contract arising from a loss event for which the Company records a paid loss or case reserve. The claim frequency data excludes reported claim activity from pro-rata reinsurance contracts where losses are reported to the Company through periodic accounts and it is therefore impracticable to determine the frequency of reported claims. As of December 31, 2018 Accident Year Incurred losses and allocated loss adjustment expenses Total IBNR plus expected development on reported claims Cumulative number of reported claims (U.S dollars in millions) 2014 $ 15.9 $ — 6 2015 2.9 — 4 2016 14.5 1.0 10 2017 98.1 10.7 55 2018 31.5 13.4 5 Significant Changes in Methodologies and Assumptions The Company incorporates a variety of actuarial methods and judgments in its reserving process. Two key inputs in the various actuarial methods employed by the Company are initial expected loss ratios and expected loss reporting patterns. These key inputs impact the potential variability in the estimate of the reserve for losses and LAE. The Company's loss and LAE reserves consider and reflect, in part, deviations resulting from differences between expected loss and actual loss reporting as well as judgments relating to the weights applied to the reserve levels indicated by the actuarial methods. Expected loss reporting patterns are based upon internal and external historical data and assumptions regarding claims reporting trends over a period of time that extends beyond the Company's own operating history. Differences between actual reported losses and expected losses are anticipated to occur in any individual period and such deviations may influence future initial expected loss ratios and/or expected loss reporting patterns as recent actual experience becomes part of the historical data utilized as part of the ongoing reserve estimation process. For the year ended December 31, 2018 , as part of the Company's periodic review of key inputs and parameters it uses to establish its reserve for losses and LAE and in order to recognize accumulated historical experience and other relevant industry information, the Company made minor adjustments to the loss reporting patterns used. For the year ended December 31, 2018 , the Company did not materially alter initial expected loss ratios for the relevant reinsurance reserve categories. There have been no other significant changes to methodologies and assumptions. Claims Duration The following table shows the historical average annual percentage payout of incurred claims for Blue Capital Re, by age as of December 31, 2018 . This information is presented as required supplemental information and is unaudited. Average annual percentage payout of incurred claims by age Year 1 Year 2 Year 3 Year 4 Year 5 44.9 % 34.2 % 11.3 % 2.9 % 0.8 %

Written and Earned Reinsurance

Written and Earned Reinsurance Premiums	12 Months Ended
	Dec. 31, 2018
Reinsurance Disclosures [Abstract]
Written and Earned Reinsurance Premiums	NOTE 3. Written and Earned Reinsurance Premiums Written premiums represent business bound from ceding companies and net earned premiums represent the portion of net premiums written (gross premiums written less any ceded reinsurance) which is recognized as revenue over the period of time that coverage is provided. See Note 1. Blue Capital seeks to diversify its exposure across geographic zones around the world in order to obtain a prudent spread of risk. The spread of these exposures is also a function of market conditions and opportunities. The following table sets forth a breakdown of Blue Capital’s gross reinsurance premiums written by geographic area of risks insured for the years ended December 31, 2018 and 2017 : Year Ended Year Ended ($ in millions) December 31, 2018 December 31, 2017 Worldwide (1) $ 28.9 87 % $ 36.3 78 % USA: Nationwide 0.8 2 % 2.1 4 % Florida 1.9 6 % 4.9 10 % Gulf region 0.5 1 % 0.7 2 % California — — % 0.3 1 % Midwest region and other 0.5 2 % 0.3 1 % Northeast — — % 0.3 1 % Mid-Atlantic region — — % 0.3 1 % Worldwide, excluding U.S. (2) 0.6 2 % 0.9 2 % Total gross premiums written $ 33.2 100 % $ 46.1 100 % (1) "Worldwide" comprises reinsurance contracts that cover risks in more than one geographic area and do not specifically exclude the U.S. (2) "Worldwide, excluding U.S." comprises reinsurance contracts that cover risks in more than one geographic area but specifically exclude the U.S. The following table sets forth a breakdown of Blue Capital’s net reinsurance premiums earned by geographic area of risks insured for the years ended December 31, 2018 and 2017 : Year Ended Year Ended ($ in millions) December 31, 2018 December 31, 2017 Worldwide (1) $ 28.9 86 % $ 35.8 77 % USA: Nationwide 0.8 2 % 2.1 4 % Florida 2.0 6 % 5.4 11 % Gulf region 0.5 2 % 0.7 2 % California — — % 0.3 1 % Midwest region and other 0.5 2 % 0.3 1 % Northeast 0.1 — % 0.2 1 % Mid-Atlantic region — — % 0.3 1 % Worldwide, excluding U.S. (2) 0.6 2 % 0.9 2 % Total net premiums earned $ 33.4 100 % $ 46.0 100 % (1) "Worldwide" comprises reinsurance contracts that cover risks in more than one geographic area and do not specifically exclude the U.S. (2) "Worldwide, excluding U.S." comprises reinsurance contracts that cover risks in more than one geographic area but specifically exclude the U.S.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	NOTE 4. Derivative Instruments Outward ILW Swap s In March 2017 and June 2017 , Blue Capital Re ILS entered into various ILW swaps (the "2017 Outward ILW Swaps") with third-parties in order to purchase protection against natural catastrophes across multiple geographic zones from March 2017 to March 2018 . In return for fixed payments totaling $2.0 million , Blue Capital Re ILS is entitled to receive floating payments in the event of certain losses incurred by the insurance industry as a whole. The maximum aggregate potential recovery to Blue Capital Re ILS from the 2017 Outward ILW Swaps is $9.0 million . As a result of catastrophe events occurring during 2017, a recovery was triggered on the 2017 Outward ILW Swaps resulting in the settlement of $4.7 million to Blue Capital Re ILS. The 2017 Outward ILW Swaps are valued on the basis of modeling developed by the Manager, which represents unobservable (Level 3) inputs. At expiry, there were no additional industry loss events occurring which would have triggered a recovery under the 2017 Outward ILW Swaps. In April 2016 , Blue Capital Re ILS entered into various outward ILW swaps (the “2016 Outward ILW Swaps”) with third parties in order to purchase protection against natural catastrophes across multiple geographic zones from April 2016 to April 2017 . In return for fixed payments totaling $2.0 million , Blue Capital Re ILS was entitled to receive floating payments in the event of certain losses incurred by the insurance industry as a whole. The maximum aggregate recovery to Blue Capital Re ILS from the 2016 Outward ILW Swaps was $9.0 million . At expiry, there were no industry loss events occurring which would have triggered a recovery under the 2016 Outward ILW Swaps. During the year ended December 31, 2018 , Blue Capital Re ILS recognized a loss from derivative instruments of less than $0.1 million pursuant to the Outward ILW Swaps. During the year ended December 31, 2017 , Blue Capital Re ILS recognized a gain from derivative instruments of $2.3 million pursuant to the Outward ILW Swaps.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Shareholders' Equity	NOTE 5. Shareholders’ Equity Common Shares The Company’s share capital consists of Common Shares with a $1.00 par value per share. Holders of Common Shares are entitled to one vote for each share held . As of December 31, 2018 and 2017 , the Company had 8,767,165 and 8,761,229 Common Shares outstanding, respectively. During 2018 and 2017 , the Company issued a total of 5,936 and 5,158 Common Shares, respectively, in satisfaction of vested restricted share unit ("RSU") obligations. See Note 8. Dividends to Holders of Common Shares and RSUs The Company declared and paid quarterly cash dividends of $0.30 per Common Share and RSU during each of the first three quarters of the years ended December 31, 2018 and 2017 . In addition, in February 2017 , the Company declared a special dividend with respect to its 2016 Distributable Income of $0.59 per Common Share and RSU. The total amount of such dividends declared and paid during 2018 and 2017 was $7.9 million and $13.1 million , respectively. Dividends declared in 2018 are recorded as a deduction to additional paid-in capital within total shareholders' equity due to the Company maintaining a retained deficit throughout the period. There are restrictions on the payment of dividends by the Company, Blue Capital Re and Blue Capital Re ILS. See Note 10. Any future determination to pay dividends to holders of Common Shares and RSUs will be at the discretion of the Board and will be dependent upon many factors, including the Company’s results of operations, cash flows, financial position, capital requirements, general business opportunities, and legal, regulatory and contractual restrictions. NOTE 5. Shareholders’ Equity, cont'd Common Share Repurchase Authorization As of December 31, 2018 , the Board of Directors of the Company have authorized the repurchase of up to a total of 500,000 ordinary shares in open market or privately negotiated transactions, from time to time, depending on market conditions. The new share repurchase authorization continues through July 31, 2019. The Company did not purchase any shares or share equivalents during the year ended December 31, 2018 .

Basic and Diluted Earnings (Los

Basic and Diluted Earnings (Loss) Per Common Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Basic and Diluted Earnings (Loss) Per Common Share	NOTE 6. Basic and Diluted Earnings Per Common Share The Company applies the two-class method of calculating its earnings per Common Share. In applying the two-class method, any outstanding RSUs are considered to be participating securities. See Note 8. For all periods presented in which RSUs were outstanding, the two-class method was used to determine basic and diluted earnings per Common Share since this method yielded a more dilutive result than the treasury stock method. For purposes of determining basic and diluted earnings per Common Share, a portion of net income is allocated to outstanding RSUs, which serves to reduce the Company’s earnings per Common Share numerators. Net losses are not allocated to outstanding RSUs and, therefore, do not impact the Company’s loss per Common Share numerators. The following table outlines the Company’s computation of its basic and diluted loss per Common Share for the years ended December 31, 2018 and 2017 : ($ in millions) Year Ended December 31, 2018 Year Ended December 31, 2017 Net loss $ (28.6 ) $ (43.2 ) Less: net loss allocated to participating securities (1) — — Net loss per Common Share numerator $ (28.6 ) $ (43.2 ) Average Common Shares outstanding (in thousands of shares) 8,764 8,759 Basic and diluted loss per Common Share $ (3.27 ) $ (4.94 ) (1) For all periods presented, there were no earnings allocated to participating securities since the Company incurred a net loss.

Credit Agreement

Credit Agreement	12 Months Ended
	Dec. 31, 2018
Line of Credit Facility [Abstract]
Credit Agreement	NOTE 7. Credit Facility On May 6, 2016, the Company entered into a credit facility (the "2016 Credit Facility") with Endurance Investment Holdings Ltd. (the "Lender"), a wholly-owned subsidiary of Sompo International. The 2016 Credit Facility provides the Company with an unsecured $20.0 million revolving credit facility for working capital and general corporate purpose. Borrowings under the 2016 Credit Facility bear interest, set at the time of the borrowing, at a rate equal to the applicable LIBOR rate plus 150 basis points. A one-time fee of $20,000 was due to the Lender in connection with establishing the 2016 Credit Facility. The 2016 Credit Facility was amended on July 31, 2018 to extend its expiry to September 30, 2020 under identical terms. On December 31, 2018, Endurance Investment Holdings Ltd. was merged into its parent, Endurance Bermuda, and the obligations of the Lender were assumed by Endurance Bermuda. The 2016 Credit Facility contains covenants that limit the Company’s ability, among other things, to grant liens on its assets, sell assets, merge or consolidate, or incur debt. If the Company fails to comply with any of these covenants, the Lender could revoke the facility and exercise remedies against the Company. In addition, in the event of a default in the performance of any of the agreements or covenants under certain management agreements with the Manager by the Company, the Lender has the right to terminate the 2016 Credit Facility. As of December 31, 2018 , the Company was in compliance with all of its respective covenants associated with the 2016 Credit Facility. NOTE 7. Credit Facility, cont'd On October 8, 2018, the Company borrowed $3.0 million under the 2016 Credit Facility. On December 21, 2018, the Company borrowed a further $1.0 million under the 2016 Credit Facility to support general corporate expense obligations for the period. As of December 31, 2018 , the Company had $4.0 million outstanding borrowings under the Credit Facilities. At December 31, 2017 , the Company had no outstanding borrowings under the Credit Facilities. During the year ended December 31, 2018 and 2017 , the Company paid interest on its borrowings under the Credit Facilities of less than $0.1 million and nil , respectively. During the years ended December 31, 2018 and 2017 , the Company did not incur any facility or structuring fees in connection with the 2016 Credit Facility.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	NOTE 8. Share-Based Compensation The Company’s 2013 Long-Term Incentive Plan (the "2013 LTIP"), which was adopted by the Board in September 2013, permits the issuance of up to one percent of the aggregate Common Shares outstanding to participants. Incentive awards that may be granted under the 2013 LTIP include RSUs, restricted Common Shares, incentive share options (on a limited basis), non-qualified share options, share appreciation rights, deferred share units, performance compensation awards, performance units, cash incentive awards and other equity-based and equity-related awards. At the discretion of the Board’s Compensation and Nominating Committee, incentive awards, the value of which are based on Common Shares, may be made to the Company’s directors, future employees and consultants pursuant to the 2013 LTIP. For all periods presented, the Company’s outstanding share-based incentive awards consisted solely of RSUs. RSUs are phantom (as opposed to actual) Common Shares which, depending on the individual award, vest in equal tranches over a one to five -year period, subject to the recipient maintaining a continuous relationship with the Company through the applicable vesting date. RSUs are payable in Common Shares upon vesting (the amount of which may be reduced by applicable statutory income tax withholdings at the recipient’s option). RSUs do not require the payment of an exercise price and are not entitled to voting rights, but they are entitled to receive payments equivalent to any dividends and distributions declared on the Common Shares underlying the RSUs. During 2018 , the Company awarded a total of 10,640 RSUs ( 2017 : 6,540 ) to its directors. The RSUs earn ratably each year based on continued service as a director over a three -year vesting period. The grant date fair value of the RSUs was $0.1 million ( 2017 : $0.1 million ). In determining the grant date fair value associated with the RSUs, the Company assumed a forfeiture rate of zero . The forfeiture assumption associated with the RSUs may be adjusted, if necessary, based on future experience. During 2018 , 5,936 ( 2017 - 5,158 ) of the RSUs vested. The fair value of the vesting RSUs was $0.1 million ( 2017 - $0.1 million ). See Note 5. During 2018 , no RSUs were forfeited ( 2017 - 2,352 ). During the years ended December 31, 2018 and 2017 , the Company recognized $0.1 million and $0.1 million of RSU expense, respectively. The Company expects to incur future RSU expense associated with its currently outstanding RSUs of less than $0.1 million during each of 2019 , 2020 and 2021 . As of December 31, 2018 and 2017 , there were 16,892 and 12,188 RSUs outstanding under the 2013 LTIP, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 9. Income Taxes The Company and its subsidiaries are domiciled in Bermuda and each have received an assurance from the Bermuda government exempting them from all local income, withholding and capital gains taxes until March 31, 2035. At the present time, no such taxes are levied in Bermuda. NOTE 9. Income Taxes, cont'd The Company and its subsidiaries intend to conduct substantially all of their operations in Bermuda in a manner such that they will not be engaged in a trade or business in the U.S. However, because there is no definitive authority regarding activities that constitute being engaged in a trade or business in the U.S. for federal income tax purposes, the Company cannot assure that the U.S. Internal Revenue Service will not contend, perhaps successfully, that the Company or any of its subsidiaries is engaged in a trade or business in the U.S. A foreign corporation deemed to be so engaged would be subject to U.S. federal income tax, as well as branch profits tax, on its income that is treated as effectively connected with the conduct of that trade or business unless the corporation is entitled to relief under an applicable tax treaty.

Regulation and Capital Requirem

Regulation and Capital Requirements	12 Months Ended
	Dec. 31, 2018
Regulatory Capital Requirements [Abstract]
Regulation and Capital Requirements	NOTE 10. Regulation and Capital Requirements Blue Capital Re is registered under the Insurance Act 1978 of Bermuda and related regulations, as amended (the "Insurance Act"), as a Class 3A insurer. Class 3A insurers benefit from an expedited application process, less regulatory stringency and minimal capital and surplus requirements. As a result of the approvals received from the Bermuda Monetary Authority (the "BMA") and the terms of Blue Capital Re’s business plan, Blue Capital Re’s reinsurance contracts must be fully-collateralized. The Insurance Act limits the maximum amount of annual dividends and distributions that may be paid by Blue Capital Re and provides that the value of the assets of an insurer must exceed the value of its liabilities by an amount greater than its prescribed minimum solvency margin. If Blue Capital Re were to fail to meet its minimum solvency margin on the last day of any financial year, it would be prohibited from declaring or paying any dividends during the next financial year without the approval of the BMA. Blue Capital Re’s minimum solvency margin has been set by the BMA to be $1.0 million at all times, so long as: (i) Blue Capital Re only enters into contracts of reinsurance that are fully collateralized; and (ii) each transaction represents no material deviation from the original business plan filed with BMA at the time of Blue Capital Re’s registration. The Insurance Act also limits the maximum amount of annual dividends and distributions that may be paid by Blue Capital Re. As a result of the net losses recorded in 2018 and 2017, until such time as Blue Capital Re extinguishes its retained deficit position, the payment of dividends are subject to return of capital restrictions. Blue Capital Re may not reduce its total statutory capital by 15% or more, as set out in its previous year’s financial statements, unless it has received the prior approval of the BMA. Total statutory capital consists of Blue Capital Re’s paid in share capital, its contributed surplus (sometimes called additional paid in capital) and any other fixed capital designated by the BMA as statutory capital. Annual distributions that would result in a reduction of Blue Capital Re’s prior year-end balance of combined statutory capital and surplus by more than 25% requires the approval of the BMA. With respect to the years ended December 31, 2018 and 2017 , Blue Capital Re had the ability to pay dividends of up to $22.6 million and $23.9 million to its parent without BMA approval. The Insurance Act further provides a minimum liquidity ratio and requires general business insurers and reinsurers to maintain the value of their relevant assets at not less than 75% of the amount of their relevant liabilities. Blue Capital Re exceeded its minimum liquidity requirements at December 31, 2018 and 2017 by $112.0 million and $141.9 million , respectively. Blue Capital Re’s 2018 and 2017 statutory net loss was $25.0 million and $38.5 million , respectively. Blue Capital Re's statutory capital and surplus at December 31, 2018 and 2017 was $92.6 million and $126.7 million , respectively. The Bermuda Companies Act 1981, as amended, also limits the Company’s, Blue Capital Re’s and Blue Capital Re ILS’ ability to pay dividends and make distributions to its shareholders. None of the Company, Blue Capital Re or Blue Capital Re ILS is permitted to declare or pay a dividend, or make a distribution out of contributed surplus, if it is, or would after the payment be, unable to pay its liabilities as they become due, or if the realizable value of its assets would be less than its liabilities.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 11. Related Party Transactions Through each of the following roles and relationships, Blue Capital leverages Sompo International's reinsurance underwriting expertise and infrastructure to conduct its business: (i) the Manager, a wholly-owned subsidiary of Sompo International, manages Blue Capital Re’s and Blue Capital Re ILS’ reinsurance underwriting decisions; (ii) Blue Water Re is a significant source of reinsurance business for Blue Capital Re; (iii) Sompo International's Chief Financial Officer is the Manager’s Chief Executive Officer and serves as the Company's Chairman of the Board and CEO; (iv) the Manager's Treasurer serves as the Company’s CFO; and (v) Sompo International's General Counsel and director of the Manager serves as the Company's Secretary and a director. All of the compensation that employees of Sompo International are entitled to as directors of the Company is assigned directly to Sompo International. As of December 31, 2018 , Sompo International owned 33.2% of the Company’s outstanding Common Shares. Services Provided to Blue Capital by Sompo International Sompo International provides services to Blue Capital through the following arrangements: BW Retrocessional Agreement . Through a retrocessional contract dated December 31, 2013 (the "BW Retrocessional Agreement"), between Blue Capital Re and Blue Water Re, Blue Water Re has the option to cede to Blue Capital Re up to 100% of its participation in the reinsurance business it writes, provided that such business is in accordance with the Company’s underwriting guidelines. Pursuant to the BW Retrocessional Agreement, Blue Capital Re may participate in: (i) retrocessional, quota share or other agreements between Blue Water Re and Sompo International or other third-party reinsurers, which provides it with the opportunity to participate in a diversified portfolio of risks on a proportional basis; (ii) fronting agreements between Blue Water Re and Endurance or other well capitalized third-party rated reinsurers, which allows Blue Capital Re to transact business with counterparties who prefer to enter into contracts with rated reinsurers; and (iii) ceded reinsurance or retrocessional protection. For all periods presented, all of the reinsurance business of Blue Capital Re was originated pursuant to the BW Retrocessional Agreement. Investment Management Agreement . The Company has entered into an Investment Management Agreement with the Manager. Pursuant to the terms of the Investment Management Agreement, the Manager has full discretionary authority, including the delegation of the provision of its services, to manage the Company’s assets, subject to the Company’s underwriting guidelines, the terms of the Investment Management Agreement and the oversight of the Board. Underwriting and Insurance Management Agreement . The Company, Blue Capital Re and the Manager have entered into an Underwriting and Insurance Management Agreement (the "Underwriting and Insurance Management Agreement"). Pursuant to the Underwriting and Insurance Management Agreement, the Manager provides underwriting, risk management, claims management, ceded retrocession agreements management and actuarial and reinsurance accounting services to Blue Capital Re. The Manager has full discretionary authority to manage the underwriting decisions of Blue Capital Re, subject to the Company’s underwriting guidelines, the terms of the Underwriting and Insurance Management Agreement and the oversight of the Company’s and Blue Capital Re’s boards of directors. Administrative Services Agreement. The Company has entered into an Administrative Services Agreement with the Manager, as amended on November 13, 2014 (the "Administrative Services Agreement"). Pursuant to the terms of the Administrative Services Agreement, the Manager provides Blue Capital with support services, including the services of our CFO, as well as finance and accounting, internal audit, claims management and policy wording, modeling software licenses, office space, information technology, human resources and administrative support. NOTE 11. Related Party Transactions, cont'd Fees Incurred Pursuant to the Aforementioned Agreements During the year ended December 31, 2018 , the Company incurred general and administrative expenses of $1.8 million pursuant to the Investment Management Agreement, $0.6 million pursuant to the Administrative Services Agreement and nil pursuant to the Underwriting and Insurance Management Agreement. During the year ended December 31, 2017 , the Company incurred general and administrative expenses of $2.4 million pursuant to the Investment Management Agreement, $0.6 million pursuant to the Administrative Services Agreement and $0.4 million pursuant to the Underwriting and Insurance Management Agreement. As of December 31, 2018 and 2017 , the Company owed Sompo International $1.0 million and $0.7 million for the services performed pursuant to the aforementioned agreements, respectively.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	NOTE 12. Commitments and Contingent Liabilities Commitments As of December 31, 2018 and 2017 , Blue Capital had no commitments for operating leases or capital expenditures and does not expect any material expenditures of this type during the foreseeable future. The Company and its subsidiaries may not terminate the Investment Management Agreement, the Underwriting and Insurance Management Agreement or the Administrative Services Agreement other than at three year intervals, whether or not the Manager’s performance results are satisfactory. Upon any termination or non-renewal of either of the Investment Management Agreement or the Underwriting and Insurance Management Agreement (other than for a material breach by, or the insolvency of, the Manager), the Company must pay a one-time termination fee to the Manager equal to 5% of its GAAP shareholders’ equity (approximately $4.5 million as of December 31, 2018 ). Litigation Blue Capital Re, pursuant to the BW Retrocessional Agreement, previously provided for a reinsurance recovery through its participation in an Industry Loss Warranty protection purchased by Blue Water Re. The counterparty to the Industry Loss Warranty disputed the claim for the recovery, which was based upon the size of an insured industry loss calculated based upon third-party data. In June 2018, Blue Capital Re ILS, together with two other vehicles managed by the Manager, commenced legal proceedings against certain parties relating to the purchase by Blue Capital Re ILS of a parametric insurance product called an Industry Parametric Protection that provided coverage if the sustained wind speed during a hurricane or tropical storm exceeded a pre-selected trigger. In February 2019, the parties involved in the disputes described above reached an agreement to resolve all matters and withdraw the pending claims. The impact of the settlement has been considered in the determination of recording the Company's best estimate of loss and LAE reserves as of December 31, 2018. In addition to the disputes described above, Blue Capital Re, as a reinsurer, is subject to litigation and arbitration proceedings in the normal course of its business. Such proceedings often involve reinsurance contract disputes which are typical for the reinsurance industry. Blue Capital Re's estimates of possible losses incurred in connection with such legal proceedings are provided for as "loss and loss adjustment expenses" on its Unaudited Consolidated Statements of Loss and Comprehensive Loss and are included within "loss and loss adjustment expense reserves" on its Consolidated Balance Sheets. We determine whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. We assess our potential liability by analyzing our litigation and regulatory matters using available information. We develop our views on estimated losses in consultation with outside counsel handling our defense in these matters, which involves an analysis of potential results, assuming a combination of litigation and settlement strategies. NOTE 12. Commitments and Contingent Liabilities, Cont'd Should developments in any of these matters cause a change in our determination as to an unfavorable outcome and result in the need to recognize a material accrual, or should any of these matters result in a final adverse judgment or be settled for significant amounts, they could have a material adverse effect on our results of operations, cash flows and financial position in the period or periods in which such change in determination, judgment or settlement occurs. Concentrations of Credit and Counterparty Risk Blue Capital Re ILS’ derivative instruments are subject to counterparty risk. The Company and the Manager routinely monitor this risk. Blue Water Re markets retrocessional and reinsurance policies worldwide through brokers. Credit risk exists at Blue Capital Re, pursuant to the BW Retrocessional Agreement, to the extent that any of these brokers is unable to fulfill its contractual obligations to Blue Water Re. For example, Blue Water Re is required to pay amounts owed on claims under policies to brokers, and these brokers, in turn, pay these amounts to the ceding companies that have reinsured a portion of their liabilities with Blue Water Re. In some jurisdictions, if a broker fails to make such a payment, Blue Water Re and Blue Capital Re might remain liable to the ceding company for the deficiency. In addition, in certain jurisdictions, when the ceding company pays premiums for these policies to brokers, these premiums are considered to have been paid and the ceding insurer is no longer liable to Blue Water Re for those amounts, whether or not the premiums have actually been received. Blue Capital Re remains liable for losses it incurs to the extent that any third-party reinsurer is unable or unwilling to make timely payments under reinsurance agreements. Blue Capital Re would also be liable in the event that its ceding companies were unable to collect amounts due from underlying third-party reinsurers.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 13. Fair Value of Financial Instruments GAAP requires disclosure of fair value information for certain financial instruments. For those financial instruments in which quoted market prices are not available, fair values are estimated by discounting future cash flows using current market rates or quoted market prices for similar obligations. These estimates are not necessarily indicative of amounts that could be realized in a current market exchange. Blue Capital carries its assets and liabilities that constitute financial instruments on its Consolidated Balance Sheets at fair value with the exception of its debt. See Note 4. At December 31, 2018 , the fair value of the Company's outstanding borrowings under the 2016 Credit Facility, which must be repaid in early 2019, approximated their carrying value of $4.0 million . See Note 7.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Blue Capital Reinsurance Holdings Ltd. (the "Company" or the "Registrant") is a Bermuda exempted limited liability company that, through its subsidiaries (collectively "Blue Capital"), provides collateralized reinsurance in the property catastrophe market and invests in various insurance-linked securities. The Company was incorporated under the laws of Bermuda on June 24, 2013, commenced operations on November 12, 2013. The Company’s headquarters and principal executive offices are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda, which is also our registered office. The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP"). All significant intercompany accounts and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues earned and expenses incurred during the period. Actual results could differ materially from those estimates. The significant estimates reflected in the Company’s consolidated financial statements include, but are not limited to, loss and loss adjustment expense ("LAE") reserves and written and earned reinsurance premiums.
Cash and Cash Equivalents	Cash and Cash Equivalents Blue Capital’s cash and cash equivalents of $2.2 million and $6.0 million at December 31, 2018 and 2017 , respectively, consist of cash and fixed income investments with maturities of less than three months, as measured from the date of purchase. For all periods presented, the amortized cost of each of Blue Capital’s cash equivalents approximated their fair value.
Amounts Held in Trust for the Benefit of Ceding Companies	Amounts Held in Trust for the Benefit of Ceding Companies Blue Capital Re does not operate with a financial strength rating and, instead, fully collateralizes its reinsurance obligations through cash and cash equivalents held in various trust funds established for the benefit of ceding companies. As of December 31, 2018 and 2017 , Blue Capital had pledged none of its cash and cash equivalents to trust accounts established for the benefit of third parties. As of December 31, 2018 and 2017 , Blue Capital had transferred $150.4 million and $164.8 million of its cash and cash equivalents to a trust account established by Blue Water Re for its benefit pursuant to the BW Retrocessional Agreement (see below). These amounts are presented on the Company’s Consolidated Balance Sheets as "funds held by ceding companies."
Reinsurance Premiums and Acquisition Costs	Reinsurance Premiums and Acquisition Costs Blue Capital Re writes reinsurance contracts on both an excess-of-loss and a pro-rata basis. For excess-of-loss contracts, written premiums are typically based on the deposit or minimum premium specified in the reinsurance contract. For pro-rata contracts, written premiums are recognized based on estimates of ultimate premiums provided by either the ceding companies or the Manager. All of Blue Capital Re’s reinsurance contracts are currently being written on a losses-occurring basis, which means that all loss events occurring during the period of the contract are covered, regardless of the inception dates of the underlying policies. Any loss events occurring after the expiration of a losses-occurring contract are not covered. For reinsurance contracts which incorporate minimum premium amounts, Blue Capital Re typically writes the entire ultimate premium at inception, and earns the associated premium after the premium is written over the term of the contract. For reinsurance contracts which do not incorporate minimum premium amounts, Blue Capital Re typically writes the premium over the term of the contract, and earns the associated premium in the same periods that the premium is written. Subsequent adjustments of written premium, based on reports of actual premium by the ceding companies, or revisions in estimates of ultimate premium, are recorded in the period in which they are determined. Such adjustments are generally determined after the associated risk periods have expired, in which case the premium adjustments are fully earned when written. Unearned reinsurance premiums represent the portion of premiums written that are applicable to future reinsurance coverage provided by in-force contracts. Reinsurance premiums receivable are recorded at amounts due less any provision for doubtful accounts. As of December 31, 2018 and 2017 , Blue Capital Re did not require a provision for doubtful accounts. NOTE 1. Summary of Significant Accounting Policies, cont'd When a reinsurance contract provides for a reinstatement of coverage following a covered loss, the associated reinstatement premiums are recorded as both written and earned when Blue Capital Re determines that such a loss event has occurred. Deferred reinsurance acquisition costs are comprised of commissions, brokerage costs, premium taxes and excise taxes, each of which relates directly to the writing of reinsurance contracts. Deferred reinsurance acquisition costs are typically amortized over the underlying risk period of the related contracts. However, if the sum of a contract’s expected losses and LAE and deferred reinsurance acquisition costs exceeds related unearned premiums and any projected investment income, a premium deficiency is determined to exist. In this event, deferred reinsurance acquisition costs are immediately expensed to the extent necessary to eliminate the premium deficiency. If the premium deficiency exceeds deferred reinsurance acquisition costs, a liability is accrued for the excess deficiency. There were no premium deficiency adjustments recognized during the periods presented. Profit commissions incurred are included in reinsurance acquisition costs within the Company’s Consolidated Statement of Loss and Comprehensive Loss. Accrued profit commissions payable are included in reinsurance balances payable within the Company’s Consolidated Balance Sheets.
Ceded Reinsurance	Reinsurance Balances Payable Reinsurance balances payable consist of: (i) losses and LAE that have been approved for payment; and (ii) profit commissions payable. As of December 31, 2018 and 2017 , Blue Capital Re had reinsurance balances payable of $16.4 million and $10.1 million , respectively. Ceded Reinsurance In the normal course of business, Blue Capital Re may purchase reinsurance directly or elect to participate in inuring reinsurance or retrocessional protection made available by its ceding companies. The amount of reinsurance that Blue Capital Re may buy or participate in will vary from year to year depending on its risk appetite, as well as the availability and cost of the reinsurance coverage. Ceded reinsurance premiums will be accounted for on a basis consistent with those used in accounting for the underlying reinsurance premiums assumed and will be reported as a reduction of net reinsurance premiums written and earned. Under Blue Capital Re’s reinsurance security policy, its reinsurers are typically required to be rated "A-" (Excellent) or better by A.M. Best (or an equivalent rating with another recognized rating agency) at the time the policy is written. Blue Capital Re also considers reinsurers that are not rated or do not fall within this threshold on a case-by-case basis if collateralized up to policy limits, net of any premiums owed. The Manager will monitor the financial condition and ratings of Blue Capital’s reinsurers on an ongoing basis. As of December 31, 2018 , Blue Capital Re has never purchased any reinsurance. For all periods presented, all of the ceded reinsurance protection underlying Blue Capital Re's results was originated pursuant to the BW Retrocessional Agreement.
Derivative Instruments	Derivative Instruments Current accounting guidance requires the recognition of all derivative financial instruments including embedded derivative instruments, as either assets or liabilities in the Consolidated Balance Sheets at fair value. The Company participates in derivative instruments in the form of industry loss warranty swaps as a way to access or hedge certain risks. Derivatives are recorded at fair value with changes in fair value and any gains or losses recognized in net gain (loss) from derivative instruments in the Consolidated Statements of Loss and Comprehensive Loss.
Fair Value Hierarchy	Fair Value Hierarchy GAAP establishes a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value of certain assets and liabilities into the three broad levels described below. The level in the hierarchy within which a given fair value measurement falls is determined based on the lowest level input that is significant to the measurement. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date, Level 2 inputs are inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly, and Level 3 inputs are unobservable inputs (i.e., on the basis of pricing models with significant unobservable inputs or non-binding broker quotes) for the asset or liability.

Loss and LAE Reserve Movements

Loss and LAE Reserve Movements (Tables)	12 Months Ended
	Dec. 31, 2018
Insurance Loss Reserves [Abstract]
Summary of loss and LAE reserve movements	The following table summarizes Blue Capital Re’s loss and LAE reserve movements for the years ended December 31, 2018 and 2017 : Year Ended Year Ended ($ in millions) December 31, 2018 December 31, 2017 Gross and net unpaid loss and LAE reserves - beginning $ 43.4 $ 11.1 Losses and LAE incurred: Current year losses 31.5 77.9 Prior year losses 19.0 1.1 Total incurred losses and LAE 50.5 79.0 Losses and LAE paid and approved for payment: Current year losses (13.6 ) (40.4 ) Prior year losses (30.4 ) (6.3 ) Total losses and LAE paid and approved for payment (44.0 ) (46.7 ) Gross and net unpaid loss and LAE reserves - ending $ 49.9 $ 43.4
Claims development, IBNR reserves and claims frequency	Claims Development Tables The following tables show the development of the reserve for losses and LAE by accident year at December 31, 2018 . Information presented for the years ended December 31, 2017 , 2016 , 2015 and 2014 is required supplementary information and is unaudited. Cumulative incurred losses and allocated LAE For the years ended December 31, Accident year 2014 2015 2016 2017 2018 2014 $ 17.1 $ 16.5 $ 16.5 $ 16.0 $ 15.9 2015 — 3.2 3.2 2.9 2.9 2016 — — 13.7 15.6 14.5 2017 — — — 77.9 98.1 2018 — — — — 31.5 Total $ 162.9 Cumulative paid losses and allocated LAE For the years ended December 31, Accident year 2014 2015 2016 2017 2018 2014 $ 9.2 $ 14.5 $ 15.5 $ 15.7 $ 15.8 2015 — 1.2 2.1 2.7 2.8 2016 — — 4.7 10.2 12.1 2017 — — — 40.4 68.7 2018 — — — — 13.6 Total $ 113.0 Total loss and LAE reserves at December 31, 2018 $ 49.9 The following table shows Blue Capital Re's incurred losses and LAE, IBNR reserves and cumulative number of reported claims by accident year as of December 31, 2018 . A claim is defined as a reported loss from a cedant on an excess-of-loss reinsurance contract arising from a loss event for which the Company records a paid loss or case reserve. The claim frequency data excludes reported claim activity from pro-rata reinsurance contracts where losses are reported to the Company through periodic accounts and it is therefore impracticable to determine the frequency of reported claims. As of December 31, 2018 Accident Year Incurred losses and allocated loss adjustment expenses Total IBNR plus expected development on reported claims Cumulative number of reported claims (U.S dollars in millions) 2014 $ 15.9 $ — 6 2015 2.9 — 4 2016 14.5 1.0 10 2017 98.1 10.7 55 2018 31.5 13.4 5
Short-duration Insurance Contracts, Schedule of Historical Claims Duration [Table Text Block]	Claims Duration The following table shows the historical average annual percentage payout of incurred claims for Blue Capital Re, by age as of December 31, 2018 . This information is presented as required supplemental information and is unaudited. Average annual percentage payout of incurred claims by age Year 1 Year 2 Year 3 Year 4 Year 5 44.9 % 34.2 % 11.3 % 2.9 % 0.8 %

Written and Earned Reinsuranc_2

Written and Earned Reinsurance Premiums (Tables)	12 Months Ended
	Dec. 31, 2018
Reinsurance Disclosures [Abstract]
Schedules of gross reinsurance premiums written and net premiums earned by geographic area	The following table sets forth a breakdown of Blue Capital’s gross reinsurance premiums written by geographic area of risks insured for the years ended December 31, 2018 and 2017 : Year Ended Year Ended ($ in millions) December 31, 2018 December 31, 2017 Worldwide (1) $ 28.9 87 % $ 36.3 78 % USA: Nationwide 0.8 2 % 2.1 4 % Florida 1.9 6 % 4.9 10 % Gulf region 0.5 1 % 0.7 2 % California — — % 0.3 1 % Midwest region and other 0.5 2 % 0.3 1 % Northeast — — % 0.3 1 % Mid-Atlantic region — — % 0.3 1 % Worldwide, excluding U.S. (2) 0.6 2 % 0.9 2 % Total gross premiums written $ 33.2 100 % $ 46.1 100 % (1) "Worldwide" comprises reinsurance contracts that cover risks in more than one geographic area and do not specifically exclude the U.S. (2) "Worldwide, excluding U.S." comprises reinsurance contracts that cover risks in more than one geographic area but specifically exclude the U.S. The following table sets forth a breakdown of Blue Capital’s net reinsurance premiums earned by geographic area of risks insured for the years ended December 31, 2018 and 2017 : Year Ended Year Ended ($ in millions) December 31, 2018 December 31, 2017 Worldwide (1) $ 28.9 86 % $ 35.8 77 % USA: Nationwide 0.8 2 % 2.1 4 % Florida 2.0 6 % 5.4 11 % Gulf region 0.5 2 % 0.7 2 % California — — % 0.3 1 % Midwest region and other 0.5 2 % 0.3 1 % Northeast 0.1 — % 0.2 1 % Mid-Atlantic region — — % 0.3 1 % Worldwide, excluding U.S. (2) 0.6 2 % 0.9 2 % Total net premiums earned $ 33.4 100 % $ 46.0 100 % (1) "Worldwide" comprises reinsurance contracts that cover risks in more than one geographic area and do not specifically exclude the U.S. (2) "Worldwide, excluding U.S." comprises reinsurance contracts that cover risks in more than one geographic area but specifically exclude the U.S.

Basic and Diluted Earnings (L_2

Basic and Diluted Earnings (Loss) Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings (loss) per Common Share	The following table outlines the Company’s computation of its basic and diluted loss per Common Share for the years ended December 31, 2018 and 2017 : ($ in millions) Year Ended December 31, 2018 Year Ended December 31, 2017 Net loss $ (28.6 ) $ (43.2 ) Less: net loss allocated to participating securities (1) — — Net loss per Common Share numerator $ (28.6 ) $ (43.2 ) Average Common Shares outstanding (in thousands of shares) 8,764 8,759 Basic and diluted loss per Common Share $ (3.27 ) $ (4.94 ) (1) For all periods presented, there were no earnings allocated to participating securities since the Company incurred a net loss.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Basis of presentation (Details)	12 Months Ended
	Dec. 31, 2018Director
Basis of Presentation
Total number of the directors of the company	5
Minimum
Basis of Presentation
Percentage of distributable income intends to distribute in form of cash dividends	90.00%
Sompo International Holdings Ltd. [Member]
Basis of Presentation
Total number of the directors of the company	2

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Accounting policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents
Cash and cash equivalents	$ 2,200,000	$ 6,000,000	$ 4,700,000
Amounts Held in Trust for the Benefit of Ceding Companies
Funds held by ceding companies	150,400,000	164,800,000
Reinsurance Premiums and Acquisition Costs
Premium deficiency adjustments	0	0	$ 0
Reinsurance Balances Payable
Reinsurance balances payable	16,400,000	10,100,000
Cash and Cash Equivalents | Third Parties
Amounts Held in Trust for the Benefit of Ceding Companies
Financial Instruments, Owned and Pledged as Collateral, at Fair Value	0	0
Cash and Cash Equivalents | Blue Water Re
Amounts Held in Trust for the Benefit of Ceding Companies
Funds held by ceding companies	$ 150,400,000	$ 164,800,000

Loss and LAE Reserve Movement_2

Loss and LAE Reserve Movements (Rollfoward) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Loss and LAE Reserve Movements
Gross unpaid loss and LAE reserves - beginning	$ 43.4
Gross unpaid loss and LAE reserves - ending	49.9	$ 43.4
Blue Capital Re
Loss and LAE Reserve Movements
Gross unpaid loss and LAE reserves - beginning	43.4	11.1
Reinsurance recoverable on unpaid losses - beginning	0	0
Net unpaid loss and LAE reserves - beginning	43.4	11.1
Current year losses and LAE incurred	31.5	77.9
Prior year losses and LAE incurred	19	1.1
Total incurred losses and LAE	50.5	79
Current year losses and LAE paid and approved for payment	(13.6)	(40.4)
Prior year losses and LAE paid and approved for payment	(30.4)	(6.3)
Total losses and LAE paid and approved for payment	(44)	(46.7)
Net unpaid loss and LAE reserves - ending	49.9	43.4
Reinsurance recoverable on unpaid losses - ending	0	0
Gross unpaid loss and LAE reserves - ending	$ 49.9	$ 43.4

Loss and LAE Reserve Movement_3

Loss and LAE Reserve Movements (Claims Development, IBNR Reserves and Claims Frequency) (Details) - Blue Capital Re $ in Millions	Dec. 31, 2018USD ($)Claims	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Claims Development [Line Items]
Incurred	$ 162.9
Cumulative paid	113
Total outstanding liabilities for unpaid losses and LAE	49.9
2,014
Claims Development [Line Items]
Incurred	15.9	$ 16	$ 16.5	$ 16.5	$ 17.1
Cumulative paid	15.8	15.7	15.5	14.5	$ 9.2
Total IBNR plus expected development on reported claims	$ 0
Cumulative number of reported claims | Claims	6
2,015
Claims Development [Line Items]
Incurred	$ 2.9	2.9	3.2	3.2
Cumulative paid	2.8	2.7	2.1	$ 1.2
Total IBNR plus expected development on reported claims	$ 0
Cumulative number of reported claims | Claims	4
2,016
Claims Development [Line Items]
Incurred	$ 14.5	15.6	13.7
Cumulative paid	12.1	10.2	$ 4.7
Total IBNR plus expected development on reported claims	$ 1
Cumulative number of reported claims | Claims	10
2,017
Claims Development [Line Items]
Incurred	$ 98.1	77.9
Cumulative paid	68.7	$ 40.4
Total IBNR plus expected development on reported claims	$ 10.7
Cumulative number of reported claims | Claims	55,000
2,018
Claims Development [Line Items]
Incurred	$ 31.5
Cumulative paid	13.6
Total IBNR plus expected development on reported claims	$ 13.4
Cumulative number of reported claims | Claims	5

Loss and LAE Reserve Movement_4

Loss and LAE Reserve Movements (HIstorical Claims Duration) (Details) - Blue Capital Re	Dec. 31, 2018
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	44.90%
Year 2	34.20%
Year 3	11.30%
Year 4	2.90%
Year 5	0.80%

Written and Earned Reinsuranc_3

Written and Earned Reinsurance Premiums (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Gross reinsurance premiums written		$ 33.2	$ 46.1
Percentage of gross reinsurance premiums written by geographic area of risks insured		100.00%	100.00%
Net reinsurance premiums earned		$ 33.4	$ 46
Percentage of net earned reinsurance premiums by geographic area of risks insured		100.00%	100.00%
Worldwide
Gross reinsurance premiums written	[1]	$ 28.9	$ 36.3
Percentage of gross reinsurance premiums written by geographic area of risks insured	[1]	87.00%	78.00%
Net reinsurance premiums earned	[1]	$ 28.9	$ 35.8
Percentage of net earned reinsurance premiums by geographic area of risks insured	[1]	86.00%	77.00%
USA: Nationwide
Gross reinsurance premiums written		$ 0.8	$ 2.1
Percentage of gross reinsurance premiums written by geographic area of risks insured		2.00%	4.00%
Net reinsurance premiums earned		$ 0.8	$ 2.1
Percentage of net earned reinsurance premiums by geographic area of risks insured		2.00%	4.00%
USA: Florida
Gross reinsurance premiums written		$ 1.9	$ 4.9
Percentage of gross reinsurance premiums written by geographic area of risks insured		6.00%	10.00%
Net reinsurance premiums earned		$ 2	$ 5.4
Percentage of net earned reinsurance premiums by geographic area of risks insured		6.00%	11.00%
USA: Gulf Region
Gross reinsurance premiums written		$ 0.5	$ 0.7
Percentage of gross reinsurance premiums written by geographic area of risks insured		1.00%	2.00%
Net reinsurance premiums earned		$ 0.5	$ 0.7
Percentage of net earned reinsurance premiums by geographic area of risks insured		2.00%	2.00%
USA: California
Gross reinsurance premiums written		$ 0	$ 0.3
Percentage of gross reinsurance premiums written by geographic area of risks insured		0.00%	1.00%
Net reinsurance premiums earned		$ 0	$ 0.3
Percentage of net earned reinsurance premiums by geographic area of risks insured		0.00%	1.00%
USA: Midwest Region and Other
Gross reinsurance premiums written		$ 0.5	$ 0.3
Percentage of gross reinsurance premiums written by geographic area of risks insured		2.00%	1.00%
Net reinsurance premiums earned		$ 0.5	$ 0.3
Percentage of net earned reinsurance premiums by geographic area of risks insured		2.00%	1.00%
Northeast
Gross reinsurance premiums written		$ 0	$ 0.3
Percentage of gross reinsurance premiums written by geographic area of risks insured		0.00%	1.00%
Net reinsurance premiums earned		$ 0.1	$ 0.2
Percentage of net earned reinsurance premiums by geographic area of risks insured		0.00%	1.00%
USA: Mid-Atlantic Region
Gross reinsurance premiums written		$ 0	$ 0.3
Percentage of gross reinsurance premiums written by geographic area of risks insured		0.00%	1.00%
Net reinsurance premiums earned		$ 0	$ 0.3
Percentage of net earned reinsurance premiums by geographic area of risks insured		0.00%	1.00%
Worldwide, excluding U.S.
Gross reinsurance premiums written	[2]	$ 0.6	$ 0.9
Percentage of gross reinsurance premiums written by geographic area of risks insured	[2]	2.00%	2.00%
Net reinsurance premiums earned	[2]	$ 0.6	$ 0.9
Percentage of net earned reinsurance premiums by geographic area of risks insured	[2]	2.00%	2.00%
[1]	"Worldwide" comprises reinsurance contracts that cover risks in more than one geographic area and do not specifically exclude the U.S.
[2]	"Worldwide, excluding U.S." comprises reinsurance contracts that cover risks in more than one geographic area but specifically exclude the U.S.

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Millions	1 Months Ended	4 Months Ended	12 Months Ended
	Apr. 30, 2016	Jun. 30, 2017	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments
Net gain from derivative instruments			$ 0	$ 2.3
Blue Capital Re ILS | Outward ILW Swaps 2017 [Member]
Derivative Instruments
Fixed-rate payment on swap		$ 2
Maximum recovery under each swap		$ 9
Derivative Swap Recovery				4.7
Blue Capital Re ILS | Outward ILW Swaps 2017 [Member] | Level 3
Derivative Instruments
Fair value of swap, Asset			0	0
Blue Capital Re ILS | Outward ILW Swap 2016 [Member]
Derivative Instruments
Fixed-rate payment on swap	$ 2
Maximum recovery under each swap	$ 9
Blue Capital Re ILS | Outward Swap
Derivative Instruments
Net gain from derivative instruments			$ 0.1	$ 2.3

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	1 Months Ended	3 Months Ended						12 Months Ended
	Feb. 29, 2016	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Dividends declared per Common Share and RSU (in dollars per share)	$ 0.59	$ 0.3	$ 0.3	$ 0.3	$ 0.3	$ 0.3	$ 0.3	$ 0.9	$ 1.49
Total amount of dividends								$ 7,900,000	$ 13,100,000
Common shares, par value (in dollars per share)								$ 1	$ 1
Voting rights of common stock								one vote for each share held
Common shares outstanding (in shares)								8,767,165	8,761,229
Common Shares issued (in shares)								5,936	5,158
Dividends paid per Common Share and RSU (in dollars per share)		$ 0.3	$ 0.3	$ 0.3	$ 0.3	$ 0.3	$ 0.3
Dividends paid								$ 7,900,000	$ 13,100,000
Common Shares authorized for repurchase as part of publicly announced plans or programs								$ 500,000

Basic and Diluted Earnings (L_3

Basic and Diluted Earnings (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Basic and Diluted Earnings Per Common Share
Net loss		$ (28.6)	$ (43.2)
Less: net loss allocated to participating securities (1)	[1]	0	0
Net loss per Common Share numerator		$ (28.6)	$ (43.2)
Average Common Shares outstanding (in thousands of shares)		8,764	8,759
Basic and diluted (loss) earnings per Common Share (in dollars per share)		$ (3.27)	$ (4.94)
[1]	For all periods presented, there were no earnings allocated to participating securities since the Company incurred a net loss.

Credit Agreement (Details)

Credit Agreement (Details) - USD ($)	May 06, 2016	May 01, 2015	Dec. 31, 2018	Dec. 31, 2017
Credit agreement
Short-term Debt			$ 4,000,000
Repayments of Lines of Credit			0	$ 0
2016 Credit Facility [Member]
Credit agreement
Short-term Debt				0
Interest paid				$ 0
2016 Credit Facility [Member] | Maximum
Credit agreement
Interest paid			$ 100,000
2016 Credit Facility [Member] | Endurance Investments Holdings Ltd. [Member]
Credit agreement
Maximum borrowing capacity	$ 20,000,000
Facility and structuring fees in connection with the Credit Agreement	$ 20,000
2016 Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Endurance Investments Holdings Ltd. [Member]
Credit agreement
Basis spread (as a percent)	1.50%
Revolving credit facility | London Interbank Offered Rate (LIBOR) [Member]
Credit agreement
Basis spread (as a percent)		1.00%

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-Based Compensation
Percentage of aggregate common shares outstanding	1.00%
Total grant date fair value of the RSUs awarded	$ 0.1	$ 0.1
Number of RSUs vested	5,936	5,158
Fair value of RSUs vested	$ 0.1	$ 0.1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	0	2,352
Directors
Share-Based Compensation
RSUs awarded (in shares)	10,640	6,540
2013 LTIP
Estimated future expense
Incentive awards outstanding (in shares)	16,892	12,188
2013 LTIP | RSUs
Share-Based Compensation
Expenses recognized	$ 0.1	$ 0.1
2013 LTIP | RSUs | Directors
Share-Based Compensation
Vesting period	3 years
Forfeiture rate (as a percent)	0.00%
2013 LTIP | Minimum | RSUs
Share-Based Compensation
Vesting period	1 year
2013 LTIP | Maximum | RSUs
Share-Based Compensation
Vesting period	5 years
Estimated future expense
2,018	$ 0.1
2,019	0.1
2,020	$ 0.1

Regulation and Capital Requir_2

Regulation and Capital Requirements (Details) - Blue Capital Re - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Regulation and Capital Requirements
Minimum solvency margin	$ 1
Statutory Accounting Practices Reduction Percentage Of Total Capital From Prior Year	15.00%
Threshold reduction percentage in total capital without prior statutory approval	25.00%
Amount available for dividend payments to parent without regulatory approval	$ 22.6	$ 23.9
Minimum liquidity ratio (as a percent)	75.00%
Amount by which value of relevant assets exceeded the value of relevant liabilities	$ 112	141.9
Statutory net income	(25)	(38.5)
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 92.6	$ 126.7

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Investment Management Agreement
Related party transactions
General and administrative expenses	$ 1.8	$ 2.4
Administrative Services Agreement
Related party transactions
General and administrative expenses	0.6	0.6
Underwriting and Insurance Management Agreement
Related party transactions
General and administrative expenses	$ 0	0.4
Sompo International Holdings Ltd. [Member]
Related party transactions
Percent of ownership in the company	33.20%
Amount due to for services performed	$ 1	0.7
Sompo International Holdings Ltd. [Member] | Credit Agreement
Related party transactions
Fees and expenses incurred by related party	$ 0	$ 0
Blue Capital Re | Blue Water Re | BW Retrocessional Agreement | Maximum
Related party transactions
Percentage of participation in the ceded reinsurance business of the related party for which option to cede exists	100.00%

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Commitments and contingent liabilities
Commitments for operating leases	$ 0	$ 0
Commitments for capital expenditures	$ 0	$ 0
Investment Management Agreement Or Underwriting and Insurance Management Agreement
Commitments and contingent liabilities
One-time termination fee as a percent of shareholders' equity	5.00%
Amount of one-time termination fee payable	$ 4.5
Blue Capital Re
Commitments and contingent liabilities
Loss Contingency, Estimate of Possible Loss	5,000,000

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) $ in Millions	Dec. 31, 2018USD ($)
Fair Value Disclosures [Abstract]
Short-term Debt	$ 4