SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Sompo International Holdings Ltd. (Last) (First) (Middle) WATERLOO HOUSE 100 PITTS BAY ROAD (Street) PEMBROKE D0 HM08 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Blue Capital Reinsurance Holdings Ltd. [ BCRH ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 06/15/2018
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	06/15/2018		M		1,811	A	$10.1	414,269	D
Common Shares								2,500,000	I	See Footnote(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Units	(2)	06/15/2018		M			1,811	(3)	(3)	Common Shares	1,811	$0	2,217	D
Restricted Share Units	(2)	06/15/2018		J(4)		4,256		(5)	(5)	Common Shares	4,256	$0	6,473	D

1. Name and Address of Reporting Person* Sompo International Holdings Ltd. (Last) (First) (Middle) WATERLOO HOUSE 100 PITTS BAY ROAD (Street) PEMBROKE D0 HM08 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SOMPO HOLDINGS, INC. (Last) (First) (Middle) 26-1, NISHI-SHINJUKU 1-CHOME SHINJUKU-KU (Street) TOKYO M0 160-8338 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Sompo Japan Nipponkoa Insurance Inc. (Last) (First) (Middle) 26-1, NISHI-SHINJUKU 1-CHOME SHINJUKU-KU (Street) TOKYO M0 160-8338 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Owned by Endurance Specialty Insurance Ltd., a wholly-owned subsidiary of Sompo International Holdings Ltd.

2. Each restricted share unit represents a contingent right to receive one Issuer common share.

3. Mandatory conversion of previously granted restricted share units.

4. In accordance with agreements between Sompo International Holdings Ltd. ("SIH"), as successor in interest to Endurance Specialty Holdings Ltd., and Mr. Del Col and Mr. McGuire, respectively, all remuneration, including cash fees, restricted share units, any other equity-based awards and other compensation, to which they are or will become entitled for their service as Directors of the Issuer will be assigned or paid directly to SIH. Mr. Del Col and Mr. McGuire disclaim beneficial ownership of all such restricted share units. SIH is an indirect, wholly-owned subsidiary of Sompo Holdings, Inc. and a direct, wholly-owned subsidiary of Sompo Japan Nipponkoa Insurance, Inc.

5. These awards will vest in three equal tranches on June 15, 2019, 2020 and 2021, subject to Messrs. Del Col and McGuire remaining actively engaged as directors of the Issuer in good standing on such dates.

Remarks:

	SOMPO INTERNATIONAL HOLDINGS LTD., By /s/ John V. Del Col	06/15/2018
	Sompo Holdings, Inc., By /s/ Junichi Tanaka, Managing Executive Officer	06/15/2018
	Sompo Japan Nipponkoa Insurance Inc., By /s/ Junichi Tanaka, Managing Executive Officer	06/15/2018
	** Signature of Reporting Person	Date
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