TR-1 Notification of Major Interest in Shares

For filings with the FCA include the annex

For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Blue Capital Global Reinsurance Fund Limited

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Implementation of Transparency Directive II Regulation

ü

3. Full name of person(s) subject to thenotification obligation: iii

Schroders plc

4. Full name of shareholder(s)  (if different from 3.):iv

Schroder & Co Ltd

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

26.11.15

6. Date on which issuer notified:

30.11.15

7. Threshold(s) that is/are crossed orreached: vi, vii

Above 10%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

17,124,314

17,124,314

20,588,224

N/A

20,588,224

N/A

10.34%

Ordinary

BMG1189R1043

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

20,588,244

10.34%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Schroder & Co. Limited 20,588,244 10.34%

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

This notification is being made based on the legal entity position exceeding 10%. Schroders Plc's position remains within disclosure thresholds as per the previous disclosure.

The shares referred to in section 9 are held in portfolios managed by those firms on a discretionary basis for clients under investment management agreements.

This disclosure is based on issue share capital amount 199,105,326.

14. Contact name:

Taryn O'Donoghue

15. Contact telephone number:

+44 207 658 6000

Note: Annex should only be submitted to the FCA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Schroder & Co. Limited

Contact address

(registered office for legal entities)

12 Moorgate

London

EC2R 6DA

Phone number & email

+44 20 7658 2959

[email protected]

Other useful information

(at least legal representative for legal persons)

Group Disclosure Team

B: Identity of the notifier, if applicable

Full name

Taryn O'Donoghue

Contact address

Phone number & email

+44 20 7658 2959

[email protected]

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

Compliance Manager

C: Additional information

For notes on how to complete form TR-1 please see the FCA website.