IRS Scrutiny of Offshore Tax Avoidance Repels Bids for Bermuda Reinsurers May 19, 2015 By Sonali Basak The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’...
Third Point Re Reports Q1 Net Income of $50.5M, Up From $39.8M in Q1 2014 May 8, 2015 Bermuda-based Third Point Reinsurance Ltd. reported first quarter net income of $50.5 million, or $0.47 per diluted common share, compared...
Hedge Fund-Backed Bermuda Ventures Could Be at Risk From IRS April 24, 2015 By Richard Rubin, Sonali Basak and Zachary R. Mider Investment vehicles set up by Paulson & Co. and Highbridge Capital Management in tax-friendly Bermuda may be under threat from...
A.M. Best Affirms Ratings of Third Point Reinsurance & Subsidiaries March 20, 2015 A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-”...
Third Point Re Says It’s a Real Insurer as IRS Weighs Tightening Tax Rules March 13, 2015 By Jing Cao and Sonali Basak Third Point Reinsurance Ltd., which counts Dan Loeb as a founder, said it’s more than just a hedge fund investing...
Loeb’s Third Point Reinsurance Ltd. Shuns Acquisitions in U.S., Europe February 12, 2015 By Noah Buhayar and Sonali Basak Third Point Reinsurance Ltd., the Bermuda-based company co-founded by hedge-fund manager Dan Loeb, said buying a competitor in the U.S....
Pine River Said to Seek Up To $750 Million for Reinsurer February 17, 2014 By Noah Buhayar Pine River Capital Management LP, the $14.3 billion hedge-fund firm founded by Brian Taylor, is raising capital for a reinsurance...