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Institutional Investment Manager
Capital Returns Management, LLC
Capital Returns Management, LLC (CIK: 0001525092) incorporated in Delaware, located at 9 Timber Trail, Rye, NY. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q2)
Portfolio Summary: 18 holdings with a total value of $118,108,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 ASSURED GUARANTY LTD COM 441,450 10,816,000 9.16%
2 PROTECTIVE LIFE CO 147,823 10,249,000 8.68%
3 ARTHUR J GALLAGHER 214,480 9,995,000 8.46%
4 GLOBAL INDEMNITY PLC 368,568 9,579,000 8.11%
5 ALLSTATE CORP 161,789 9,500,000 8.04%
6 PRUDENTIAL FINL INC 102,200 9,072,000 7.68%
7 METLIFE INC 158,670 8,816,000 7.46%
8 ERIE INDEMNITY CO-CL A 106,066 7,983,000 6.76%
9 HARTFORD FINL SVCS GROUP INC 215,676 7,723,000 6.54%
10 PROASSURANCE CORP COM 144,633 6,422,000 5.44%
11 CNA FINL CORP 113,283 4,579,000 3.88%
12 EMPLOYERS HLDGS INC COM 214,619 4,546,000 3.85%
13 XL Group plc 130,021 4,256,000 3.60%
14 REINSURANCE GROUP AMER INC 49,456 3,902,000 3.30%
15 VOYA FINANCIAL INC 96,000 3,489,000 2.95%
16 STATE AUTO FINL CORP COM 140,661 3,296,000 2.79%
17 EMC INSURANCE 88,777 2,733,000 2.31%
18 THIRD PT REINS LTD 75,464 1,152,000 0.98%

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001140361-14-032437, filed 2014.08.14).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.