Blue Capital Reinsurance (BCRHF) 10-Q 31 Jul 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 26, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	BLUE CAPITAL REINSURANCE HOLDINGS LTD.
Entity Central Index Key	0001582086
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding		8,774,782
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 3	$ 2.2
Reinsurance premiums receivable	8	8.9
Deferred reinsurance acquisition costs	0	0.1
Funds held by ceding companies	125.3	150.4
Other assets	3.2	1.7
Total Assets	139.5	163.3
Liabilities
Loss and loss adjustment expense reserves	38.4	49.9
Unearned reinsurance premiums	0	0.8
Debt	0	4
Reinsurance balances payable	7.7	16.4
Other liabilities (See Note 6)	2.5	1.5
Total Liabilities	48.6	72.6
Shareholders' Equity
Common Shares, at par value - 8,774,782 shares issued and outstanding (2018 - 8,767,165)	8.8	8.8
Additional paid-in capital	155.2	157.8
Retained deficit	(73.1)	(75.9)
Total Shareholders' Equity	90.9	90.7
Total Liabilities and Shareholders' Equity	$ 139.5	$ 163.3

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common shares issued (in shares)	8,774,782	8,767,165
Common shares outstanding (in shares)	8,774,782	8,767,165

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Reinsurance premiums written	$ 4.2	$ 7.4	$ 9.6	$ 19.9
Change in net unearned reinsurance premiums	0.3	(0.2)	0.8	(5.1)
Net reinsurance premiums earned	4.5	7.2	10.4	14.8
Net investment income	0.8	0.5	1.6	0.9
Total revenues	5.3	7.7	12	15.7
Expenses
Loss and loss adjustment expenses	1.8	2.2	3.7	6.7
Reinsurance acquisition costs	1.4	2	3.4	3.9
General and administrative expenses	1.1	1	2.1	2.1
Total expenses	4.3	5.2	9.2	12.7
Net income	1	2.5	2.8	3
Comprehensive income	$ 1	$ 2.5	$ 2.8	$ 3
Per share amounts:
Basic and diluted earnings per Common Share	$ 0.12	$ 0.28	$ 0.33	$ 0.34
Dividends declared per Common Share and RSU	$ 0.15	$ 0.30	$ 0.30	$ 0.60

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Shares, at par value	Additional paid-in capital	Retained deficit
Balance at the start of the period at Dec. 31, 2017	$ 127.1	$ 8.8	$ 165.6	$ (47.3)
Increase Decrease in Shareholder's Equity
Net income	0.5	0	0	0.5
Dividends declared - Common Shares and RSUs	(2.6)	0	(2.6)	0
Balance at the end of the period at Mar. 31, 2018	125	8.8	163	(46.8)
Balance at the start of the period at Dec. 31, 2017	127.1	8.8	165.6	(47.3)
Increase Decrease in Shareholder's Equity
Net income	3
Balance at the end of the period at Jun. 30, 2018	124.8	8.8	160.3	(44.3)
Balance at the start of the period at Mar. 31, 2018	125	8.8	163	(46.8)
Increase Decrease in Shareholder's Equity
Net income	2.5	0	0	2.5
Dividends declared - Common Shares and RSUs	(2.7)	0	(2.7)	0
Balance at the end of the period at Jun. 30, 2018	124.8	8.8	160.3	(44.3)
Balance at the start of the period at Dec. 31, 2018	90.7	8.8	157.8	(75.9)
Increase Decrease in Shareholder's Equity
Net income	1.8	0	0	1.8
Dividends declared - Common Shares and RSUs	(1.3)	0	(1.3)	0
Balance at the end of the period at Mar. 31, 2019	91.2	8.8	156.5	(74.1)
Balance at the start of the period at Dec. 31, 2018	90.7	8.8	157.8	(75.9)
Increase Decrease in Shareholder's Equity
Net income	2.8
Balance at the end of the period at Jun. 30, 2019	90.9	8.8	155.2	(73.1)
Balance at the start of the period at Mar. 31, 2019	91.2	8.8	156.5	(74.1)
Increase Decrease in Shareholder's Equity
Net income	1	0	0	1
Dividends declared - Common Shares and RSUs	(1.3)	0	(1.3)	0
Balance at the end of the period at Jun. 30, 2019	$ 90.9	$ 8.8	$ 155.2	$ (73.1)

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows used in operating activities:
Net income	$ 2.8	$ 3
Net change in:
Loss and loss adjustment expense reserves	(11.5)	(13.5)
Unearned reinsurance premiums	(0.8)	5.1
Reinsurance balances payable	(8.7)	(5.7)
Deferred reinsurance acquisition costs	0.1	(0.7)
Reinsurance premiums receivable	0.9	(3.1)
Funds held by ceding companies	25.1	15.1
Other liabilities	(0.3)	(0.1)
Other assets	(1.5)	0.1
Net cash and cash equivalents from operating activities	6.1	0.2
Net cash and cash equivalents from investing activities	0	0
Cash flows used in financing activities:
Dividends paid - Common Shares and RSUs	(1.3)	(2.6)
Repayments of Lines of Credit	(4)	0
Net cash and cash equivalents used in financing activities	(5.3)	(2.6)
Net increase (decrease) in cash and cash equivalents during the period	0.8	(2.4)
Cash and cash equivalents - beginning of period	2.2	6
Cash and cash equivalents - end of period	$ 3	$ 3.6

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	NOTE 1. Basis of Presentation and 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"), offered collateralized reinsurance in the property catastrophe market and invests in various insurance-linked securities. On July 25, 2019, after considering strategic alternatives, the Company announced a plan to cease active operations and pursue an orderly run-off of its liabilities and in-force portfolio and return capital to shareholders. See Note 9. The Company was incorporated under the laws of Bermuda on June 24, 2013, and commenced its 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 unaudited consolidated financial statements incorporated in this report on Form 10-Q have been prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP. These interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements contained in the 2018 Form 10-K. In the opinion of management, these interim unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to fairly present the Company's financial position, results of operations and cash flows. The unaudited consolidated financial statements include the accounts of the Registrant and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. These interim unaudited consolidated financial statements may not be indicative of financial results for the full year. The December 31, 2018 consolidated balance sheet data was derived from audited consolidated financial statements, but does not include all of the disclosures required by GAAP. There were no material changes in the Company's significant accounting and reporting policies subsequent to the filing of the 2018 Form 10-K. Financial statements filed by the Company after this Form 10-Q will be under the liquidation basis of accounting. All assets will be stated at their estimated liquidation value and liabilities, including estimated costs associated with implementing the run-off and liquidation of the Company, will be stated at their estimated settlement amounts over the remaining estimated liquidation period. The actual amounts realized for assets and settlement of liabilities and the actual costs of liquidation may differ materially, perhaps in adverse ways, from the estimated amounts. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported 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 these interim unaudited consolidated financial statements include, but are not limited to, loss and LAE reserves and written and earned reinsurance premiums. Estimates and assumptions are periodically reviewed and the effects of revisions are recorded in the consolidated financial statements in the period that they are determined to be necessary. 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. Blue Capital leverages the reinsurance underwriting expertise and infrastructure of Sompo International and its various subsidiaries, including Blue Capital Management Ltd. (the "Manager"), to conduct its business. Sompo Holdings, Inc. is the ultimate beneficial owner of 33.2% of the Company's outstanding Common Shares through its ownership of Sompo International.

Loss and LAE Reserve Movements

Loss and LAE Reserve Movements	6 Months Ended
	Jun. 30, 2019
Insurance Loss Reserves [Abstract]
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]	NOTE 2. Loss and LAE Reserve Movements The following table summarizes Blue Capital's loss and LAE reserve movements for the three and six months ended June 30, 2019 and 2018 . Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2019 2018 2019 2018 Gross and net unpaid loss and LAE reserves- beginning $ 38.6 $ 35.5 $ 49.9 $ 43.4 Losses and LAE incurred: Current year losses 0.6 0.6 1.9 1.4 Prior year losses 1.2 1.6 1.8 5.3 Total incurred losses and LAE 1.8 2.2 3.7 6.7 Losses and LAE paid and approved for payment: Current year losses 0.1 0.1 0.1 0.1 Prior year losses 1.9 7.7 15.1 20.1 Total losses and LAE paid and approved for payment 2.0 7.8 15.2 20.2 Gross and net unpaid loss and LAE reserves- ending $ 38.4 $ 29.9 $ 38.4 $ 29.9 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. 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. During the three and six months ended June 30, 2019 , Blue Capital Re's estimated ultimate loss for prior period accident years was increased by $1.2 million and $1.8 million , respectively, due to the emergence of claims exceeding previous estimates of losses and LAE related to 2018 catastrophe events, primarily Typhoon Jebi. During the three and six months ended June 30, 2018 , Blue Capital Re's estimated ultimate loss for prior period accident years was increased by $1.6 million and $5.3 million , respectively, 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.

Basic and Diluted Earnings Per

Basic and Diluted Earnings Per Common Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Common Share	NOTE 3. 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 5. 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. NOTE 3. Basic and Diluted Earnings per Common Share , cont'd 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 per Common Share numerators in any period in which it incurs a net loss. The following table outlines the Company's computation of its basic and diluted earnings per Common Share for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net income $ 1.0 $ 2.5 $ 2.8 $ 3.0 Less: net earnings allocated to participating securities (1) — — — — Earnings per Common Share numerator $ 1.0 $ 2.5 $ 2.8 $ 3.0 Average Common Shares outstanding (in thousands of shares) 8,769 8,763 8,768 8,762 Basic and diluted earnings per Common Share $ 0.12 $ 0.28 $ 0.33 $ 0.34 (1) During the three and six month periods ended June 30, 2019 and 2018 , the net earnings allocated to participating securities totaled less than $0.1 million . Dividends to Holders of Common Shares and RSUs The Company declared regular cash dividends per Common Share and RSU of $0.15 during the three month period ended June 30, 2019 , and $0.30 during the three month period ended June 30, 2018 . As of June 30, 2019 , the Company had $1.3 million of dividends payable to holders of Common Shares and RSUs, which is included within "other liabilities" on its Unaudited Consolidated Balance Sheet at that date. As of December 31, 2018 , the Company had no dividends payable to holders of Common Shares and RSUs. The total amount of dividends paid to holders of Common Shares and RSUs during the six month periods ended June 30, 2019 and 2018 was $ 1.3 million and $ 2.6 million , respectively. There are restrictions on the payment of dividends by the Company, Blue Capital Re and Blue Capital Re ILS. 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.

Credit Facility

Credit Facility	6 Months Ended
	Jun. 30, 2019
Line of Credit Facility [Abstract]
Credit Facility	NOTE 4. 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 provided the Company with an unsecured $20.0 million revolving credit facility for working capital and general corporate purposes. Borrowings under the 2016 Credit Facility incurred 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 paid 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 Specialty Insurance Ltd. ("Endurance Bermuda"), and the obligations of the Lender were assumed by Endurance Bermuda. On July 30, 2019, the parties terminated the 2016 Credit Facility in light of the Company's plan to cease active operations. See Note 9. The 2016 Credit Facility contained covenants that limited the Company’s ability, among other things, to grant liens on its assets, sell assets, merge or consolidate, or incur debt. Had the Company failed to comply with any of these covenants, the Lender could have revoked the facility and exercised remedies against the Company. NOTE 4. Credit Facility, cont'd 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 had the right to terminate the 2016 Credit Facility. As of June 30, 2019 , the Company was in compliance with all of its respective covenants associated with the 2016 Credit Facility. 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 2016 Credit Facility. With respect to the Company's outstanding borrowings, $3.0 million was repaid on April 8, 2019 and while outstanding, was subject to annual interest rates ranging between 3.91% and 4.15% and $1.0 million was repaid on April 18, 2019, and was subject to annual interest rates ranging between 4.07% and 4.11%. As of June 30, 2019 , the Company had no outstanding borrowings under the 2016 Credit Facility. During the three and six month periods ended June 30, 2019 , the Company paid interest on its borrowings under the 2016 Credit Facility of less than $0.1 million . During the three and six month periods ended June 30, 2018 , the Company paid no interest under the 2016 Credit Facility. During the three and six month periods ended June 30, 2019 and 2018 , the Company incurred no facility or structuring fees in connection with the 2016 Credit Facility.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	NOTE 5. 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 the three and six months ended June 30, 2019 , the Company awarded a total of 17,995 RSUs (2018 - 10,640 ) to directors of its Board. 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 (2018 - $ 0.1 million ). During the three and six months ended June 30, 2019 , 7,617 RSUs vested (2018 - 5,936 ). The fair value of the vesting RSUs was $0.1 million (2018 - $0.1 million ). During the three and six months ended June 30, 2019 and 2018 , no RSUs were forfeited. During each of the three and six months ended June 30, 2019 and 2018 , the Company recognized less than $0.1 million of RSU expense. At June 30, 2019 , compensation costs not yet recognized related to unvested RSUs was $0.2 million . As of June 30, 2019 and December 31, 2018 , there were 27,270 and 16,892 RSUs outstanding, respectively, under the 2013 LTIP.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 6. Related Party Transactions As of June 30, 2019 and December 31, 2018 , Sompo International and its wholly owned subsidiary, Endurance Bermuda, owned 33.2% of the Company's outstanding Common Shares. See Note 1. 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's reinsurance underwriting decisions; (ii) Blue Water Re Ltd. ("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. 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 ceded 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; and (ii) fronting agreements between Blue Water Re and Endurance Bermuda 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. 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 (the "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 6. Related Party Transactions, cont'd Fees Incurred Pursuant to the Aforementioned Agreements During the three and six months ended June 30, 2019 , the Company incurred general and administrative expenses of: (i) $0.3 million and $0.6 million pursuant to the Investment Management Agreement; (ii) $0.1 million and $0.3 million pursuant to the Administrative Services Agreement; and (iii) nil and nil pursuant to the Underwriting and Insurance Management Agreement. During the three and six months ended June 30, 2018 , the Company incurred general and administrative expenses of: (i) $0.5 million and $ 1.0 million pursuant to the Investment Management Agreement; (ii) $0.1 million and $ 0.3 million pursuant to the Administrative Services Agreement; and (iii) nil and nil pursuant to the Underwriting and Insurance Management Agreement. During each of the three and six months ended June 30, 2019 and June 30, 2018 , the Company incurred no fees related to the 2016 Credit Facility. See Note 4. As of June 30, 2019 and December 31, 2018 , the Company owed Sompo International $0.6 million and $1.0 million for the services performed pursuant to the aforementioned agreements, respectively, which are included within "other liabilities" on the Company's Consolidated Balance Sheets at those dates.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	NOTE 7. Commitments and Contingent Liabilities Commitments As of June 30, 2019 and December 31, 2018 , 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 June 30, 2019 ). 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. Amounts Held in Trust for the Benefit of Ceding Companies As of June 30, 2019 and December 31, 2018 , Blue Capital Re ILS did not have any cash and cash equivalents pledged to trust accounts established for the benefit of third parties. As of June 30, 2019 and December 31, 2018 , Blue Capital had transferred $125.3 million and $150.4 million of its cash and cash equivalents, respectively, to a trust account established by Blue Water Re for its benefit pursuant to the BW Retrocessional Agreement. See Note 6. These amounts are presented on the Company's Consolidated Balance Sheets as "funds held by ceding companies." 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. NOTE 7. Commitments and Contingent Liabilities, cont'd 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 was 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 Income and Comprehensive Income 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. 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 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	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 8. Fair Value of Financial Instruments GAAP requires disclosure of fair value information for certain financial instruments. Where the Company holds 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. Such estimates are not necessarily indicative of amounts that could be realized in a current market exchange. At June 30, 2019 , Blue Capital had no financial instruments on its Consolidated Balance Sheet. At December 31, 2018 , Blue Capital had no financial instruments on its Consolidated Balance Sheet, with the exception of the $4.0 million in outstanding borrowings under the 2016 Credit Facility, which are not carried at fair value. See Note 4.

Subsequent Event (Notes)

Subsequent Event (Notes)	6 Months Ended
	Jun. 30, 2019
Subsequent Event [Line Items]
Subsequent Events [Text Block]	NOTE 9. Subsequent Event On July 25, 2019, after considering strategic alternatives, the Company announced a plan to cease active operations and pursue an orderly run-off of its liabilities and in-force portfolio and return capital to shareholders. As and when capital becomes available after settlement of existing liabilities and expenses, the Company expects to declare special distributions to shareholders. The Company intends to delist its common shares from the New York Stock Exchange and the Bermuda Stock Exchange prior to March 31, 2020. Following delisting, the Company intends to file a Form 15 with the U.S. Securities and Exchange Commission to terminate the registration of its shares and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended. The Company will remain exposed to the performance of its underlying in-force reinsurance treaties and the future release of collateral held in trust under the terms of underlying expired reinsurance treaties during the run-off of its business. Accordingly, the value to be received by shareholders is inherently difficult to predict. In light of the Company's plan to cease active operations, the Company and the Lender terminated the 2016 Credit Facility on July 30, 2019. See Note 4. Financial statements filed by the Company after this Form 10-Q will be under the liquidation basis of accounting. All assets will be stated at their estimated liquidation value and liabilities, including estimated costs associated with implementing the run-off and liquidation of the Company, will be stated at their estimated settlement amounts over the remaining estimated liquidation period. The actual amounts realized for assets and settlement of liabilities and the actual costs of liquidation may differ materially, perhaps in adverse ways, from the estimated amounts.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Overview	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"), offered collateralized reinsurance in the property catastrophe market and invests in various insurance-linked securities. On July 25, 2019, after considering strategic alternatives, the Company announced a plan to cease active operations and pursue an orderly run-off of its liabilities and in-force portfolio and return capital to shareholders. See Note 9. The Company was incorporated under the laws of Bermuda on June 24, 2013, and commenced its 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 unaudited consolidated financial statements incorporated in this report on Form 10-Q have been prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP. These interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements contained in the 2018 Form 10-K. In the opinion of management, these interim unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to fairly present the Company's financial position, results of operations and cash flows. The unaudited consolidated financial statements include the accounts of the Registrant and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. These interim unaudited consolidated financial statements may not be indicative of financial results for the full year. The December 31, 2018 consolidated balance sheet data was derived from audited consolidated financial statements, but does not include all of the disclosures required by GAAP. There were no material changes in the Company's significant accounting and reporting policies subsequent to the filing of the 2018 Form 10-K. Financial statements filed by the Company after this Form 10-Q will be under the liquidation basis of accounting. All assets will be stated at their estimated liquidation value and liabilities, including estimated costs associated with implementing the run-off and liquidation of the Company, will be stated at their estimated settlement amounts over the remaining estimated liquidation period. The actual amounts realized for assets and settlement of liabilities and the actual costs of liquidation may differ materially, perhaps in adverse ways, from the estimated amounts. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported 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 these interim unaudited consolidated financial statements include, but are not limited to, loss and LAE reserves and written and earned reinsurance premiums. Estimates and assumptions are periodically reviewed and the effects of revisions are recorded in the consolidated financial statements in the period that they are determined to be necessary. 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. Blue Capital leverages the reinsurance underwriting expertise and infrastructure of Sompo International and its various subsidiaries, including Blue Capital Management Ltd. (the "Manager"), to conduct its business. Sompo Holdings, Inc. is the ultimate beneficial owner of 33.2% of the Company's outstanding Common Shares through its ownership of Sompo International.

Loss and LAE Reserve Movements

Loss and LAE Reserve Movements (Policies)	6 Months Ended
	Jun. 30, 2019
Insurance Loss Reserves [Abstract]
Unpaid Policy Claims and Claims Adjustment Expense, Policy [Policy Text Block]	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. 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.

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Policies)	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Amounts Held in Trust for the Benefit of Ceding Companies	Amounts Held in Trust for the Benefit of Ceding Companies As of June 30, 2019 and December 31, 2018 , Blue Capital Re ILS did not have any cash and cash equivalents pledged to trust accounts established for the benefit of third parties. As of June 30, 2019 and December 31, 2018 , Blue Capital had transferred $125.3 million and $150.4 million of its cash and cash equivalents, respectively, to a trust account established by Blue Water Re for its benefit pursuant to the BW Retrocessional Agreement. See Note 6. These amounts are presented on the Company's Consolidated Balance Sheets as "funds held by ceding companies."

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Policies)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Policy [Policy Text Block]	GAAP requires disclosure of fair value information for certain financial instruments. Where the Company holds 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. Such estimates are not necessarily indicative of amounts that could be realized in a current market exchange. At June 30, 2019 , Blue Capital had no financial instruments on its Consolidated Balance Sheet. At December 31, 2018 , Blue Capital had no financial instruments on its Consolidated Balance Sheet, with the exception of the $4.0 million in outstanding borrowings under the 2016 Credit Facility, which are not carried at fair value. See Note 4.

Loss and LAE Reserve Movement_2

Loss and LAE Reserve Movements (Tables)	6 Months Ended
	Jun. 30, 2019
Insurance Loss Reserves [Abstract]
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]	The following table summarizes Blue Capital's loss and LAE reserve movements for the three and six months ended June 30, 2019 and 2018 . Three Months Ended June 30, Six Months Ended June 30, ($ in millions) 2019 2018 2019 2018 Gross and net unpaid loss and LAE reserves- beginning $ 38.6 $ 35.5 $ 49.9 $ 43.4 Losses and LAE incurred: Current year losses 0.6 0.6 1.9 1.4 Prior year losses 1.2 1.6 1.8 5.3 Total incurred losses and LAE 1.8 2.2 3.7 6.7 Losses and LAE paid and approved for payment: Current year losses 0.1 0.1 0.1 0.1 Prior year losses 1.9 7.7 15.1 20.1 Total losses and LAE paid and approved for payment 2.0 7.8 15.2 20.2 Gross and net unpaid loss and LAE reserves- ending $ 38.4 $ 29.9 $ 38.4 $ 29.9

Basic and Diluted Earnings Pe_2

Basic and Diluted Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per Common Share	The following table outlines the Company's computation of its basic and diluted earnings per Common Share for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net income $ 1.0 $ 2.5 $ 2.8 $ 3.0 Less: net earnings allocated to participating securities (1) — — — — Earnings per Common Share numerator $ 1.0 $ 2.5 $ 2.8 $ 3.0 Average Common Shares outstanding (in thousands of shares) 8,769 8,763 8,768 8,762 Basic and diluted earnings per Common Share $ 0.12 $ 0.28 $ 0.33 $ 0.34 (1) During the three and six month periods ended June 30, 2019 and 2018 , the net earnings allocated to participating securities totaled less than $0.1 million .

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details)	Jun. 30, 2019	Dec. 31, 2018
Sompo International [Member]
Related party transactions
Percentage of outstanding common stock	33.20%	33.20%

Loss and LAE Reserve Movement_3

Loss and LAE Reserve Movements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross unpaid loss and LAE reserves- beginning			$ 49.9
Gross unpaid loss and LAE reserves- ending	$ 38.4		38.4
Blue Capital Re Ltd [Member]
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross unpaid loss and LAE reserves- beginning	38.6	$ 35.5	49.9	$ 43.4
Reinsurance recoverable on unpaid losses - beginning		0	0	0
Net unpaid loss and LAE reserves - beginning	38.6	35.5	49.9	43.4
Current year losses and LAE incurred	0.6	0.6	1.9	1.4
Prior year losses and LAE incurred	1.2	1.6	1.8	5.3
Total incurred losses and LAE	1.8	2.2	3.7	6.7
Current year losses and LAE paid and approved for payment	0.1	0.1	0.1	0.1
Prior year losses and LAE paid and approved for payment	1.9	7.7	15.1	20.1
Total losses and LAE paid and approved for payment	2	7.8	15.2	20.2
Net unpaid loss and LAE reserves - ending	38.4	29.9	38.4	29.9
Reinsurance recoverable on unpaid losses - ending	0	0	0	0
Gross unpaid loss and LAE reserves- ending	$ 38.4	$ 29.9	$ 38.4	$ 29.9

Basic and Diluted Earnings Pe_3

Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Basic and Diluted Earnings Per Common Share
Net income		$ 1	$ 1.8	$ 2.5	$ 0.5	$ 2.8	$ 3
Less: net earnings allocated to participating securities(1)	[1]	0		0		0	0
Earnings per Common Share numerator		$ 1		$ 2.5		$ 2.8	$ 3
Average Common Shares outstanding (in thousands of shares)		8,769		8,763		8,768	8,762
Basic and diluted earnings per Common Share		$ 0.12		$ 0.28		$ 0.33	$ 0.34
Dividends declared per Common Share and RSU		$ 0.15		$ 0.30		$ 0.30	$ 0.60
Dividends Payable		$ 1.3				$ 1.3		$ 0
Payments of Ordinary Dividends, Common Stock						1.3	$ 2.6
Maximum
Basic and Diluted Earnings Per Common Share
Less: net earnings allocated to participating securities(1)		$ 0.1		$ 0.1		$ 0.1	$ 0.1
Regular Dividends Declared
Basic and Diluted Earnings Per Common Share
Dividends declared per Common Share and RSU		$ 0.15		$ 0.30
[1]	During the three and six month periods ended June 30, 2019 and 2018, the net earnings allocated to participating securities totaled less than $0.1 million.

Credit Facility (Details)

Credit Facility (Details) - USD ($)	Dec. 21, 2018	Oct. 08, 2018	May 06, 2016	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Credit Facility
Repayments of Lines of Credit						$ 4,000,000	$ 0
Endurance Investment Holdings Ltd. [Member]
Credit Facility
Maximum borrowing capacity			$ 20,000,000
2016 Credit Facility [Member]
Credit Facility
Outstanding borrowings				$ 0		0		$ 4,000,000
Interest Paid, Including Capitalized Interest, Operating and Investing Activities					$ 0
Facility and structuring fees related to Credit Agreement				0	$ 0	0	0
Interest Paid, Including Capitalized Interest, Operating and Investing Activities						$ 100,000	$ 0
2016 Credit Facility [Member] | Maximum
Credit Facility
Interest Paid, Including Capitalized Interest, Operating and Investing Activities				100,000
2016 Credit Facility [Member] | Endurance Investment Holdings Ltd. [Member]
Credit Facility
Facility and structuring fees related to Credit Agreement			$ 20,000
2016 Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Endurance Investment Holdings Ltd. [Member]
Credit Facility
Basis spread (as a percent)			1.50%
2016 Credit Facility [Member] | Borrowings due April 8, 2019 [Member]
Credit Facility
Proceeds from Long-term Lines of Credit		$ 3,000,000
Repayments of Lines of Credit				$ 3,000,000
2016 Credit Facility [Member] | Borrowings due April 8, 2019 [Member] | Maximum
Credit Facility
Line of Credit Facility, Interest Rate During Period				4.15%
2016 Credit Facility [Member] | Borrowings due April 8, 2019 [Member] | Minimum
Credit Facility
Line of Credit Facility, Interest Rate During Period				3.91%
2016 Credit Facility [Member] | Borrowings due April 21, 2019 [Member]
Credit Facility
Proceeds from Long-term Lines of Credit	$ 1,000,000
Repayments of Lines of Credit				$ 1,000,000
2016 Credit Facility [Member] | Borrowings due April 21, 2019 [Member] | Maximum
Credit Facility
Line of Credit Facility, Interest Rate During Period				4.11%
2016 Credit Facility [Member] | Borrowings due April 21, 2019 [Member] | Minimum
Credit Facility
Line of Credit Facility, Interest Rate During Period				4.07%

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
RSUs
Share-Based Compensation
Expenses recognized				$ 0.1
Compensation cost not yet recognized	$ 0.2		$ 0.2
Maximum | RSUs
Share-Based Compensation
Expenses recognized	$ 0.1		$ 0.1	$ 0.1
2013 LTIP
Share-Based Compensation
Percentage of Aggregate Common Shares Outstanding Authorized for Issuance			1.00%
2013 LTIP | RSUs
Share-Based Compensation
Incentive awards outstanding (in shares)	27,270		27,270		16,892
2013 LTIP | Minimum | RSUs
Share-Based Compensation
Vesting period			1 year
2013 LTIP | Maximum | RSUs
Share-Based Compensation
Vesting period			5 years
Director [Member] | RSUs
Share-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	17,995	10,640	17,995	10,640
FV of awards granted	$ 0.1	$ 0.1	$ 0.1	$ 0.1
Number of shares forfeited	0	0	0	0
Number of shares vested	7,617	5,936	7,617	5,936
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0.1	$ 0.1	$ 0.1	$ 0.1

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	May 06, 2016
Investment Management Agreement
Related party transactions
General and administrative expenses	$ 0.3	$ 0.5	$ 0.6	$ 1
Underwriting and Insurance Management Agreement
Related party transactions
General and administrative expenses	0	0	0	0
Administrative Services Agreement
Related party transactions
General and administrative expenses	$ 0.1	0.1	$ 0.3	0.3
Sompo International [Member]
Related party transactions
Percentage of outstanding common stock	33.20%		33.20%		33.20%
Amount due to for services performed	$ 0.6		$ 0.6		$ 1
Endurance Investment Holdings Ltd. [Member]
Related party transactions
Maximum borrowing capacity						$ 20
Blue Capital Re Ltd [Member] | 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%
2016 Credit Facility [Member] | Endurance Investment Holdings Ltd. [Member]
Related party transactions
Interest and financing expenses incurred with related party	$ 0	$ 0	$ 0	$ 0

Commitments and Contingent Li_3

Commitments and Contingent Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Commitments and contingent liabilities
Funds held by ceding companies	$ 125.3	$ 150.4
Investment Management Agreement
Commitments and contingent liabilities
Period during which contract may not be terminated	3 years
Underwriting and Insurance Management Agreement
Commitments and contingent liabilities
Period during which contract may not be terminated	3 years
Administrative Services Agreement
Commitments and contingent liabilities
Period during which contract may not be terminated	3 years
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
Cash and Cash Equivalents [Member] | Blue Capital Re Ils Ltd [Member]
Commitments and contingent liabilities
Cash and cash equivalents pledged as collateral	0
Blue Water Re | Cash and Cash Equivalents [Member] | Blue Capital Re Ltd [Member]
Commitments and contingent liabilities
Funds held by ceding companies	$ 125.3	$ 150.4

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
2016 Credit Facility [Member]
Fair value disclosures
Outstanding borrowings	$ 0	$ 4