Blue Capital Reinsurance Holdings Ltd. is a collateralized reinsurance provider for the property catastrophe market and also invests in various insurance-linked securities. The company operates through two subsidiaries, Blue Capital Re and Blue Capital Re ILS, which provide collateralized reinsurance and conduct hedging and investment activities, respectively. Blue Capital Re contracts with third-party insurance and reinsurance companies, while Blue Capital Re ILS purchases catastrophe bonds and industry loss warranties to access certain risks, and trade derivatives listed on catastrophic or weather indexes.