Third Point Reinsurance and Sirius International Insurance Group, a global multi-line insurer and reinsurer, announced they have entered into a definitive agreement for Third Point Re and Sirius Group to combine in a cash and stock transaction worth $788 million. …
Third Point Re reported a net loss of $183.6 million for the first quarter of 2020 due to COVID-19-related investment volatility – but the company still had big reasons to celebrate. For the first time since its inception in October …
In the midst of this pandemic, insurance buyers and their brokers are looking for COVID-19 pandemic coverage, which is like buying property insurance when your house is on fire, according to Tracey Gibbons, senior vice president, Underwriting, at Third Point …
A luxury yacht owned by hedge fund manager Daniel Loeb damaged a pristine reef atoll in Belize near the famous Great Blue Hole, a popular diving site. The 200-foot (61 meter) Samadhi, owned by Third Point founder Loeb, was filmed …
Third Point Reinsurance Ltd. (TPRE) has appointed Daniel Malloy as CEO, effective May 10. He succeeds J. Robert Bredahl, whose resignation has been accepted by the board. Bredahl had been TPRE’s CEO since March 2017. Malloy moves into his new …
Three more reinsurers released their initial loss estimates from third quarter natural catastrophes, which include Hurricanes Harvey, Irma and Maria and the Mexico City earthquake. PartnerRe Ltd. estimates combined catastrophe losses of approximately $475 million (pre-tax, net of retrocession and …
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 …
Third Point Reinsurance Ltd., the company that counts on hedge fund manager Dan Loeb to oversee investments, posted its biggest profit since 2013 as his portfolio rebounded. Second-quarter net income more than tripled to $53.4 million, or 51 cents a …
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 …
Third Point Reinsurance Ltd. won lower fees on investments overseen by Dan Loeb’s Third Point LLC, the hedge fund manager that helped start the Bermuda-based reinsurer. Third Point Re will pay a 1.5 percent annualized fee in addition to as …
