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 …
Dan Loeb’s Third Point Reinsurance Ltd. said scrutiny of the industry’s offshore tax advantage has lessened after hedge fund manager John Paulson closed a venture that stood out as an ” outlier” for its aggressive use of strategies that were …
Bill Egan, the former Bank of America Corp. banker who was working with Oaktree Capital Group LLC to start a reinsurance venture, has cut ties with the asset manager, according to people familiar with the matter. His exit follows a …
Third Point Reinsurance Ltd., the company that counts on hedge fund manager Dan Loeb to oversee investments, posted its fourth loss in seven quarters as the portfolio slumped and underwriting was unprofitable. The first-quarter net loss was $51.1 million, or …
Stock pops or stock drops, there’s always been at least one winner when it comes to Daniel Loeb’s reinsurance company: Daniel Loeb’s hedge fund. Loeb’s Bermuda-based Third Point Reinsurance Ltd. paid $98.8 million since 2013 to the entities that manage …
Third Point Reinsurance Ltd., which counts on Dan Loeb to oversee investments, swung to a profit in the fourth-quarter as the hedge fund manager’s results improved before a January slump. Net income was $42.2 million, or 39 cents a share, …
Billionaire John Paulson’s New York hedge fund firm has shut an operation in Bermuda that had been targeted by a Democratic lawmaker as a tax shelter. Paulson’s venture, a reinsurer named PaCRe Ltd., has stopped writing new coverage, and its …
Third Point Reinsurance Ltd., which counts on hedge fund manager Dan Loeb to oversee its portfolio, fell below the price of its 2013 initial public offering after investments faltered. The reinsurer tumbled 2.3 percent to $12.49 at 4:04 p.m. in …
Greenlight Capital Re Ltd. posted its third-straight unprofitable quarter on losses in the investment portfolio overseen by hedge-fund manager David Einhorn. The net loss for the period ended Sept. 30 widened to $219.7 million, or $5.98 a share, from $51.8 …
