Hashtag: #ThirdPointReinsurance
Third Point Re Reports Net Loss Of $14.7 Million
Bermuda-based Third Point Reinsurance Ltd. announced results for its fiscal fourth quarter and full year ended December 31, 2014. Third Point Re reported a net loss of $14.7 million, or $(0.14) per diluted common share, for the fourth quarter of 2014, compared with net income of $80.1 million, or $0.75 per diluted common share, for the fourth quarter... Read more of this article
A.M. Best Assigns Debt Rating To Third Point Re
A.M. Best has assigned a debt rating of “bbb-” to the $115 million 7% fixed senior unsecured notes due 2025 recently issued by Third Point Re [USA] Holdings, Inc. [Wilmington, DE]. The assigned outlook is stable. Third Point Reinsurance Ltd [TPRE] [Bermuda], the parent company of Third Point RE [USA] Holdings, is the guarantor of the senior notes.... Read more of this article
Third Point Re: Bumsted Was An “Amazing” Man
Bryan M. Bumsted, Senior Underwriter at Third Point Reinsurance Ltd., passed away recently at the age of 37 after a battle with cancer. “Bryan joined Third Point Reinsurance Company Ltd. in 2012 as the Senior Underwriter for the Third Point Cat Fund following earlier positions in reinsurance and financial services,” the company said. “A... Read more of this article
A.M. Best Rates Third Point Reinsurance
A.M. Best has assigned a financial strength rating [FSR] of A- [Excellent] and an issuer credit rating [ICR] of “a-” to Third Point Reinsurance [USA] Ltd. [TPRUSA] [Bermuda] and an ICR of “bbb-” to its parent, Third Point Re [USA] Holdings, Inc. A statement from the ratings agency said, “The ratings of TPRUSA are based on its strong risk-adjusted... Read more of this article
Third Point Realigns Partnership With Hiscox
Bermuda-based Third Point Reinsurance Ltd. announced a “re-alignment of its partnership” with Hiscox Insurance Company [Bermuda] Limited in the catastrophe reinsurance fund management business. The company said, “Third Point Re intends to contribute certain resources of Third Point Reinsurance Investment Management Ltd. into Hiscox’s... Read more of this article
Third Point Reports 2014 Q3 Earnings Results
Bermuda-based Third Point Reinsurance Ltd. announced results for its fiscal third quarter ended September 30, 2014, reporting a net loss of $6.0 million, or $[0.06] per diluted common share, for the third quarter of 2014, compared with net income of $46.6 million, or $0.51 per diluted common share, for the third quarter of 2013, a decrease of 112.9%. For... Read more of this article
Third Point Re Extends John Berger’s Contract
Bermuda-based Third Point Reinsurance Ltd. has extended the employment agreement of John Berger, Chairman, Chief Executive Officer and Chief Underwriting Officer, for another three year term. The Company also announced several management changes. J. Robert Bredahl, currently the Company’s Chief Financial Officer and Chief Operating Officer, will... Read more of this article
Third Point Re 2014 Q1 Income: $39.8 Million
Bermuda-based Third Point Reinsurance Ltd. announced results for its first quarter ended March 31, 2014, reporting net income of $39.8 million, compared with $74.4 million for the first quarter of 2013, a decrease of 46.6%. For the three months ended March 31, 2014, diluted book value per share increased by $0.31 per share, or 2.4%, to $13.43 per share... Read more of this article
A.M. Best Affirms Third Point Re’s Ratings
A.M. Best Co. has affirmed the financial strength rating of A- [Excellent] and issuer credit rating [ICR] of “a-” of Third Point Reinsurance Company Ltd. [TPRCL]. The outlook for both ratings is stable. Concurrently, A.M. Best has assigned an ICR of “bbb-” to TPRCL’s holding company, Third Point Reinsurance Ltd. [TP Re]. The outlook assigned... Read more of this article
Nicholas Campbell Joins Third Point Re
Bermuda-based Third Point Reinsurance Ltd. announced that Nicholas Campbell has joined the company in the role of Senior Vice President, Underwriting reporting to Chief Executive Officer, John Berger. John Berger commented, “We are excited that Nick has joined our team. His combined underwriting and actuarial expertise bring a strong skillset... Read more of this article
Parkin, McConachie, Gueronniere Appointed
Bermuda-based Third Point Reinsurance Ltd. and its wholly owned subsidiary Third Point Reinsurance Company Ltd. has appointed, Mark Parkin, Neil McConachie and Rafe de la Gueronniere to its Board of Directors. Mr. Mark Parkin was employed by Deloitte &Touche LLP [and its predecessor Touche Ross & Co.] for 37 years. For 26 years of his tenure,... Read more of this article
Video: Third Point Re Rings NYSE Opening Bell
Executives and guests of Bermuda-based Third Point Reinsurance Ltd. visited the New York Stock Exchange [NYSE] on Thursday [Aug 15] to celebrate the company’s initial public offering, which began trading under the ticker symbol “TPRE”. In honour of the occasion, John R. Berger, Chairman, Chief Executive Officer and Chief Underwriting... Read more of this article
Third Point Re Prices Initial Public Offering
Bermuda-based Third Point Reinsurance Ltd. has priced its initial public offering of 22,053,286 common shares at $12.50 per share. The shares are expected to begin trading today [Aug 15] on the New York Stock Exchange under the ticker symbol “TPRE.” Of the 22,053,286 common shares being offered, 21,524,492 common shares are being offered by Third... Read more of this article
Third Point Re To Launch London Platform
Bermuda-based Third Point Reinsurance Limited is continuing to build its platform with a London office led by former Allied World executive Clare Himmer, Insurance Insider reports. The subsidiary will target UK and Continental European business, writing on behalf of the firm’s Bermudian reinsurer. Ms Himmer was most recently head of international... Read more of this article
Third Point Reinsurance Launch Update
Third Point Reinsurance Limited and its wholly owned subsidiary Third Point Reinsurance Company Limited announced that they have commenced operations and underwritten multiple new reinsurance treaties since the Company’s launch this month. TP Re was created to generate growth by managing overall risk through treating the liability/underwriting side... Read more of this article
Third Point Re Hires Bredahl & Malloy
Third Point Re has hired Rob Bredahl as Chief Financial Officer and Chief Operating Officer, and Dan Malloy as Executive Vice-President, Underwriting. Mr. Bredahl joins Third Point Re from Aon Benfield, where he was CEO of Aon Benfield Securities and President of Aon Benfield Americas. Aon Benfield is a leading reinsurance broker and a division of... Read more of this article
