0001104659-14-017284 Sample Contracts

LOCK-UP AGREEMENT
Lock-Up Agreement • March 7th, 2014 • Blue Capital Reinsurance Holdings Ltd. • Fire, marine & casualty insurance

Montpelier Reinsurance Ltd. (“Montpelier”) understands that Deutsche Bank Securities Inc. (“Deutsche Bank”), Barclays Capital Inc. and UBS Securities LLC, as representatives (the “Representatives”) of the several underwriters (the “Underwriters”), propose to enter into an Underwriting Agreement (the “Underwriting Agreement”) with Blue Capital Reinsurance Holdings Ltd. (the “Company”), providing for the public offering by the Underwriters, including the Representatives, of common shares, par value $1.00 per share (the “Common Shares”), of the Company (the “Public Offering”).

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FORM OF LOCK-UP AGREEMENT
Lock-Up Agreement • March 7th, 2014 • Blue Capital Reinsurance Holdings Ltd. • Fire, marine & casualty insurance

The undersigned understands that Deutsche Bank Securities Inc., Barclays Capital Inc. and UBS Securities LLC as representatives (the “Representatives”) of the several underwriters (the “Underwriters”), propose to enter into an Underwriting Agreement (the “Underwriting Agreement”) with Blue Capital Reinsurance Holdings Ltd. (the “Company”), providing for the public offering by the Underwriters, including the Representatives, of common shares, par value $1.00 per share (the “Common Shares”), of the Company (the “Public Offering”).

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