Reinsurance News
Third Point Re
Demand for pandemic cover rising, but capacity limited: Third Point Re CEO
19th May 2020
There’s been a notable rise in demand for pandemic re/insurance and a subsequent hike in rates, however, there’s currently limited capacity in the marketplace for pandemic cover, according to Dan Malloy, Chief Executive Officer (CEO) of Third Point Re. These are unprecedented times for the industry, and it will undoubtedly be ... Read the full article
Third Point Re delivers underwriting profit, but Covid-19 hits investments
8th May 2020
Bermuda headquartered Third Point Re, the reinsurer linked to hedge fund manager Daniel Loeb, delivered an underwriting profit in the first quarter of this year, but fell to a net loss due to the Covid-19 pandemic effects on its investment portfolio. Third Point Re appears to have turned a corner in ... Read the full article
Third Point Re expects underwriting profitability in Q1 and beyond
3rd March 2020
Hedge fund-backed reinsurer Third Point Re is confident of recording an underwriting gain in the first-quarter of the year and, over time, expects this side of its balance sheet to become a meaningful contributor to overall returns. Third Point Re announced towards the end of 2018 that although investments would remain ... Read the full article
Third Point Re swings to profit off investment gains
28th February 2020
Hedge fund-backed reinsurer Third Point Re has posted a net income of $29.7 million for the fourth quarter of 2019, compared to a $298 million loss in the prior year quarter. This swing was boosted by healthy investment returns of 2.4% for the quarter (compared to a 11.4% loss the previous ... Read the full article
Retro pricing dynamics could disrupt market shares: Third Point Re execs
18th December 2019
Reinsurers that rely heavily on retrocession could be in danger of losing market share next year if prices continue to increase in response to the shortage of capacity, according to executives at Third Point Re. Speaking in an interview with Reinsurance News, David Govrin, President of Third Point Reinsurance (USA) Ltd., ... Read the full article
Third Point Re reports 217.3% rise in GWP, adds board member
6th November 2019
Hedge fund-backed reinsurer Third Point Re has posted a 217.3% increase in gross written premiums for the third quarter. This $65.3 million increase was primarily driven by a single retroactive reinsurance contract written in the period. Third Point Re reported a Q3 net loss of $15.1 million, compared to a $13.3 million ... Read the full article
Third Point Re names Malloy CEO, adds Sid Sankaran to Board
8th August 2019
The Board of Directors of Third Point Re has affirmed the appointment of Dan Malloy as Chief Executive Officer (CEO) following the resignation of Robert Bredahl earlier this year. Malloy was appointed interim CEO at the time of Bredahl's departure and after the Board's review, he has now been affirmed ... Read the full article
Third Point Re’s underwriting result improves on property cat business
8th August 2019
Hedge fund-backed reinsurer Third Point Re has reported an improved, albeit still negative underwriting result for the second-quarter and first-half of 2019, while the firm's net income improved for both periods when compared with 2018. Third Point Re has reported net income of $53.1 million for Q2 and $186 million for ... Read the full article
TransRe’s David Sinclair joins Third Point Re as SVP, Marketing & Investments
22nd July 2019
Hedge-fund backed reinsurer Third Point Reinsurance Ltd. (Third Point Re) has named David Sinclair as Senior Vice President (SVP), Marketing and Investments, effective September 2nd, 2019. Sinclair joins the firm from Transatlantic Re (TransRe), and his appointment is part of Third Point Re's strategy to expand and strengthen its presence in ... Read the full article
Neil McConachie exits Third Point Re board
8th July 2019
Neil McConachie, a prominent reinsurance executive who previously helped to found Fidelis, has resigned from the board of hedge fund-backed Third Point Re. According to a United States Stock Exchange Commission filing Third Point Re's board received the resignation of McConachie on 1 July 2019. The effective date of the resignation ... Read the full article
Third Point Re invests in driver-focused insurtech Noblr
20th June 2019
Hedge fund-backed reinsurer Third Point Re has entered into a partnership with insurtech firm Noblr through a combination of a minority equity investment and reinsurance. Noblr offers an insurance producted designed to reward drivers for making smart decisions, leveraging telematics data, actuarial insight, and product design to offer feedback and real-time ... Read the full article
Third Point Re adjusts investment strategy to help bolster underwriting focus
29th May 2019
Hedge fund-backed reinsurer Third Point Re has entered into an Amended and Restated Collateral Assets Investment Management Agreement that will help fund a realignment of its investment strategy, one influenced by an increasing shift towards catastrophe underwriting. The company initially reallocated $350 million and expects to reallocate additional amounts to fixed income ... Read the full article
Property cat business expected to drive underwriting profit at Third Point Re
17th May 2019
As hedge fund-backed reinsurer Third Point Re continues to build and evolve its underwriting platform, which now includes property catastrophe reinsurance business, it expects to achieve underwriting profitability within the next year or so, according to Dan Malloy, Third Point Re's Chief Executive Officer (CEO). The hedge fund-backed reinsurer adopts an ... Read the full article
A.M. Best revises Third Point Re outlook to negative
17th May 2019
International financial services ratings agency, A.M. Best has revised the rating outlooks to negative from stable of Third Point Reinsurance Ltd. and its subsidiaries, in light of the firm's inability to produce an underwriting profit. At the same time, A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and ... Read the full article
Investment return more than offsets underwriting loss for Third Point Re in Q1
10th May 2019
Hedge fund style reinsurer Third Point Re has announced record net income of $132.9 million for the first-quarter of 2019, a significant improvement on the $26 million net loss reported for the same period in 2018. The improvement was driven by an investment gain of $155 million for the quarter, which ... Read the full article
- ← Previous
- 1
- 2
- 3
- 4
- Next →