The Class of 2020 already has a new member, but it’s not a true startup, the chair of the company said recently. Speaking at the KBW Insurance Conference in early September, Sid Sankaran, chair of Third Point Re, was referring …
The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of …
The Bermuda re/insurance model will be tested following U.S. tax forms and the continuing challenges of competitive market conditions, according to a report by Fitch Ratings. The cut in the U.S. corporate tax rate to 21 percent from 35 percent …
Hedge fund manager David Einhorn has endured a number of losing bets at his insurance venture. Now, the weather is becoming a threat for his Greenlight Capital Re Ltd. The company’s stock has slumped about 9 percent since Aug. 31 …
Third Point Reinsurance Ltd., co-founded by hedge-fund manager Dan Loeb, likened the risk of mergers and acquisitions to picking a spouse without being aware of how much can go wrong. “Just like marriage, in M&A the 20 percent that work …
CNO Financial Group Inc. on Thursday said that two of its subsidiaries were terminating agreements with reinsurer Beechwood Re, after regulators in two states said that many assets managed by Beechwood were not compliant with insurance company guidelines because of …
Hedge fund firms that set up reinsurance companies will struggle because too many rivals had the same idea and investment results have been disappointing, according to a report from S&P Global Ratings. Money managers entered the reinsurance business to gain …
Warren Buffett’s biggest investment tip: Be wary of fees. At the annual meeting of his Berkshire Hathaway Inc., the billionaire warned about the enduring risk of derivatives, defended stocks in his portfolio and signaled that some of the company’s biggest …
Dan Loeb’s reinsurer cited risks tied to regulation as the Internal Revenue Service and U.S. Senator Ron Wyden work to limit what the lawmaker called a “tax loophole” used by hedge fund managers to route investments abroad. Third Point Reinsurance …
The shorts are targeting one of Wall Street’s best known short sellers. Bearish investors have piled on bets against a reinsurer started by hedge fund manager David Einhorn as the company’s losses climbed. Short interest on Greenlight Capital Re Ltd., …
