Reinsurance News
hedge fund reinsurer
Hedge fund Re performance shows volatile, but potentially rewarding strategy
7th March 2018
The performance of hedge fund reinsurers continues to be impacted by the low interest rate environment and weak underwriting returns, and, the divergent performance of Third Point Re and Greenlight Re in 2017 underlines the volatility that exists when adopting a total-return strategy. Third Point Re delivered net income of $277.8 ... Read the full article
Establishing a Lloyd’s Syndicate one strategy Greenlight Re is considering
22nd February 2018
Hedge fund backed reinsurer Greenlight Capital Re, Ltd. (Greenlight Re) is looking into the establishment of a Lloyd's of London Syndicate as it expands its business strategy and enters the specialty market. Speaking during the company's fourth-quarter 2017 earnings call, Chief Executive Officer (CEO), Simon Burton discussed continued portfolio repositioning at ... Read the full article
Investment returns highlight divergence in hedge fund reinsurer performance
16th November 2017
The performance of hedge fund backed reinsurers Third Point Re and Greenlight Re continues to diverge, while investment returns remain the driver of profitability for market participants that adopt a total-return strategy. Investment-oriented reinsurance companies, such as Third Point Re and Greenlight Re, seek to bolster poor underwriting returns by optimising ... Read the full article
Private equity specialist Kelso selling most of its Third Point Re stake
14th November 2017
Specialist private equity investor Kelso & Company is selling almost 70% of its stake in Bermudian hedge fund backed reinsurance firm Third Point Re, in a secondary offering of 15 million shares. At yesterday's closing price of $16.80, the 15 million shares will raise Kelso around $252 million. The shares represent approximately ... Read the full article
Third Point Re announces Board changes as John Berger steps down
9th November 2017
Hedge fund backed reinsurer, Third Point Re, has announced a number of changes to its Board of Directors, including that John Berger will step down as Chairman of the Board, effective December 22nd, 2017. Berger's departure comes at the end of the term of his Chairman's agreement, and he will be ... Read the full article
Third Point Re strategy means it avoids major Q3 catastrophe loss
6th October 2017
Third Point Re has released initial loss estimates for third quarter catastrophe activity and year to date investment returns net losses from recent catastrophe events of under $10 million. The reinsurer said 2017 net return on investments managed by Third Point was 14.4% through to September 30th, which is set to ... Read the full article
Greenlight Capital Re appoints Michael Belfatti to COO
16th August 2017
Hedge fund backed specialist property and casualty reinsurer Greenlight Re today announced Michael Belfatti's appointment to the newly created position of Chief Operating Officer (COO), effective from September 1. As COO, Belfatti will oversee the firm's pricing, actuarial and risk management functions, and spearheading data collection, analytics and technology efforts across ... Read the full article
Greenlight Re maintains short position on Tesla
15th August 2017
Hedge fund style reinsurance company, Greenlight Capital Re (Greenlight Re), is to maintain its short position on Tesla despite this contributing to an almost $40 million net loss in Q2 2017, according to reports. In little over a year Tesla, which is led by Chief Executive Officer (CEO) Elon Musk, has seen ... Read the full article
Third Point Re announces senior executive team changes
9th August 2017
Third Point Reinsurance, the hedge fund strategy reinsurer backed by Daniel Loeb's Third Point LLC, has announced a series of changes to its executive team, subject to Bermuda Department of Immigration and regulatory approval. Daniel Malloy was promoted from Chief Underwriting Officer to Chief Executive Officer (CEO) of Third Point Reinsurance Company ... Read the full article
Third Point Re hires David Govrin from Berkshire Hathaway
11th April 2017
Third Point Reinsurance Ltd. has announced the hiring of David Govrin, previously a member of Berkshire Hathaway Reinsurance Group's underwriting team, as its Executive Vice President, Underwriting at Third Point Reinsurance (USA) Ltd. Govrin had spent seven years as Vice President in Berkshire Hathaway's Reinsurance Group, as a key member ... Read the full article
Greenlight Reinsurance Ireland appoints Patrick O’Brien as CEO
16th March 2017
Greenlight Capital Re’s subsidiary, Greenlight Reinsurance Ireland DAC, has announced Patrick O’Brien as new Chief Executive Officer. O’Brien has been promoted to CEO after joining Greenlight Re Ireland in June last year, acting as General Manager. Commenting on his promotion, O'Brien said Greenlight Re’s expertise in the US for innovative solutions and ... Read the full article
Third Point Re’s Berger to step down as CEO, Bredahl to succeed him
23rd February 2017
Third Point Reinsurance Ltd. has announced that Chief Executive Officer John Berger is set to step down from the role and will be replaced by Robert Bredahl, the current President and Chief Operating Officer. Berger will remain active at the reinsurer, which is backed by hedge fund manager Daniel Loeb, in ... Read the full article
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