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Third Point Re

Insurer and reinsurer SiriusPoint launches with $3bn+ in capital

26th February 2021

Bermuda-based SiriusPoint Ltd., the new insurer and reinsurer incepted via the combination of Third Point Re and Sirius Group, has officially launched with more than $3 billion in initial capital. Led by Chief Executive Officer (CEO) and Chairman Sid Sankaran, SiriusPoint launches as one of the first substantial players of the ... Read the full article

Third Point Re dissatisfied with 2020 underwriting result

24th February 2021

Third Point Re has announced net income of $134.4 million for the fourth-quarter of 2020 and $143.5 million for the full-year 2020, as claims related to catastrophes and the COVID-19 pandemic saw the firm report an underwriting loss for both periods. For the quarter, net income actually improved from the $29.7 ... Read the full article

Further executive roles unveiled at SiriusPoint

22nd February 2021

As the merger between hedge fund-backed reinsurer Third Point Re and multi-line re/insurer Sirius Group nears completion, further executive and senior underwriting roles have been announced at SiriusPoint Ltd. Expected to close on or about the 26th of February, subject to satisfaction of closing conditions, the planned merger received shareholder ... Read the full article

Third Point Re strengthens leadership ahead of Sirius merger

9th February 2021

Hedge fund backed reinsurer Third Point Re has made three senior hires to strengthen its existing leadership team ahead of its planned merger with Sirius Group. Due to close this quarter, the merger will form a combined entity called SiriusPoint. Tim Mardon will join the senior underwriting team at SiriusPoint as Global ... Read the full article

Increased scale will unlock market opportunities, says SiriusPoint

21st January 2021

SiriusPoint, the new insurer and reinsurer incepted via the combination of Third Point Re and Sirius Group, has said that increased scale will allow it to capitalize on more market opportunities. In a recent presentation, SiriusPoint explained that the enhanced scale and underwriting capabilities provided by its merger will make it ... Read the full article

Third Point Re shareholders approve Sirius merger

25th November 2020

Hedge fund backed reinsurer Third Point Re and multi-line re/insurer Sirius Group have gained key approvals from shareholders that will enable them to proceed with their planned merger agreement. At a Third Point Re special general meeting, the shareholders approved the issuance of Third Point Re common shares to Sirius Group ... Read the full article

Investments offset Third Point Re underwriting loss

6th November 2020

Bermudian reinsurer Third Point Re has reported a net income of $68.7 million for the third quarter of 2020, compared to a net loss of $15.1 million for the same period last year. For the first nine months of the year, Third Point Re’s net income stands at $9.1 million, versus ... Read the full article

Parametric triggers the solution to pandemic backstop: Third Point Re’s Tracey Gibbons

19th October 2020

While it is clear that the enormous risks posed by future pandemics can only be tackled through public-private partnerships, the solutions proposed so far fail to fully contend with the scope and complexity of a global systemic threat of this nature. This is where parametric triggers come in, says Third Point ... Read the full article

AIG’s David Junius appointed COO of Third Point Re

30th September 2020

Bermudian reinsurer Third Point Re has announced the appointment of David Junius as Chief Operating Officer. Junius will transition to Chief Financial Officer once Third Point Re completes its merger with international multi-line re/insurer Sirius Group, becoming SiriusPoint. He brings over 23 years of experience, having most recently served as CFO for ... Read the full article

Arcadian targeting up to $125m of premium for 2021, says Third Point Re

28th September 2020

Bermudian reinsurer Third Point Re, who recently announced an investment and partnership with new MGA Arcadian Risk Capital, has said Arcadian will be targeting up to $125 million of premium for 2021. Third Point Re has made a significant capital contribution to Arcadian and will own a minority stake in ... Read the full article

Third Point Re takes stake in new Bermuda MGA Arcadian Risk Capital

17th September 2020

Third Point Re, the Bermuda-based reinsurance company, has announced an investment and partnership with new managing general agent (MGA) Arcadian Risk Capital Ltd. a start-up led by well-known industry executive John Boylan. Boylan is launching Arcadian Risk Capital Ltd. as an MGA focused initially on underwriting Excess Casualty and Professional Lines ... Read the full article

Third Point Re reaches agreement with Sirius shareholders

11th September 2020

Shareholders of Sirius International Insurance Group have agreed to remain as investors in the company following the completion of its merger with Bermuda-based reinsurer Third Point Reinsurance. First announced last month, the merger will see Sirius and Third Point Re combine into an entity called SiriusPoint Ltd, in a transaction ... Read the full article

For SiriusPoint, underwriting is paramount: Sankaran & Malloy

14th August 2020

SiriusPoint, the new insurer and reinsurer incepted via the combination of Third Point Re and Sirius Group, is determined to focus on the bottom line to ensure underwriting excellence. This is according to incoming Chief Executive Officer (CEO) of SiriusPoint, Sid Sankaran and Dan Malloy, current Third Point Re CEO who ... Read the full article

Investment recovery boosts Third Point Re’s income

7th August 2020

Hedge fund-backed reinsurer Third Point Re improved its net income to $124 million during the second quarter of 2020, helped by a recovery in the investment markets following pandemic-induced volatility in Q1. The Q2 figure compares with a net income of $53.1 million for the same period last year, although the ... Read the full article

Third Point Re & Sirius Group to combine in $788mn transaction

7th August 2020

Bermuda-based reinsurer, Third Point Reinsurance Ltd, has entered into a definitive agreement to combine in a cash and stock transaction with international multi-line re/insurer, Sirius Group. The deal is valued at around $788 million and will see the establishment of a global company with $3.3 billion of tangible capital, to be ... Read the full article

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