Capital Returns Master, LTD

Capital Returns Master, LTD is reported as a hedge fund in Form ADV private-fund disclosures. The adviser is Capital Returns Management, LLC, based in Cayman Islands.

General hedge fund $25M to $100M $1M to $5M minimum

$71.3Mgross assets

$1.0Mminimum

20owners

3(c)(7)exemption

Disclosure fields

Fund facts

SEC private fund ID805-9280037413

Reference ID40596

JurisdictionCayman Islands

Fund of fundsNo

Master fundYes

Feeder fundNo

Non-US ownership0%

Assets valued100%

Annual auditYes

GAAPYes

Source periodMarch 2026

Date submitted03/23/2026

Adviser

Capital Returns Management, LLC

TypeExempt reporting adviser

SEC number802-117613

CRD163104

Regulatory AUM$71.3M

Compliance signals

Exempt from registration Sales limitation not marked Prime brokers reported Custodians reported

Service providers

Reported counterparties

General partners

Capital Returns Management, LLC, ManagerPhilip Hughes, DirectorRonald D. Bobman, DirectorWilliam Ullman, Director

Auditors

BDO CAYMAN LTD.BDO USA, LLP

Prime brokers

BTIG, LLC

Custodians

GOLDMAN SACHS & CO. LLC

Administrators

SS&C TECHNOLOGIES, INC

Marketers

FIRST LIBERTIES FINANCIAL