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Investment oriented reinsurance model best when sponsored: S&P

The total return reinsurance model, or investment oriented reinsurance model, or hedge fund backed reinsurance model (depending on what you prefer to call it), remains a challenging strategy to execute on well, but more recent start-ups that are sponsored by an existing re/insurer and asset manager are favoured by S&P.Rating read the full article →

David Govrin joins Third Point Re U.S.

David Govrin, previously of Berkshire Hathaway and formerly a founder of a capital markets focused intermediary, has joined Third Point Reinsurance (USA) Ltd. as its executive vice president in charge of underwriting.Hedge fund backed reinsurance firm Third Point Re announced the hire yesterday, adding a respected executive with a history read the full article →

Third Point Re told to “reverse course” on underwriting by A.M. Best

Hedge fund reinsurance firms have largely failed to produce the investment returns expected of them over the last few years, as financial market jitters hit their portfolios, but for A.M. Best the underwriting is key no matter the desire to produce a total-return.Rating agency A.M. Best warned Third Point Re, read the full article →

Third Point Re CEO John Berger to step down

John Berger is to step down from the Chief Executive Officer role at Bermuda based hedge fund backed reinsurance firm Third Point Re from March, with Robert Bredahl the current President and Chief Operating Officer set to succeed him.Third Point Re launched in early 2012 with $750 million of capital read the full article →

Third Point Re’s investments trump underwriting in Q2

Bermuda based hedge fund backed reinsurance firm Third Point Re saw its asset side outperform in the second quarter of 2016, as a rise in its combined ratio and a technical underwriting loss was compensated for by higher investment returns.This is the promise of the hedge fund backed, investment oriented, read the full article →

Hedge fund reinsurers benefit from strong investments in July

The two highest-profile proponents of the hedge fund reinsurance strategy, Third Point Re and Greenlight Re, have both benefited from very strong July investment returns, with a considerable boost to the year being received at both firms.By the mid-point of the year the two hedge fund backed reinsurers saw investment read the full article →

S&P warns on longevity of hedge fund reinsurance model

The performance of hedge fund reinsurers diverged in the opening months of 2016 following investment market volatility. Consistently being outperformed by traditional reinsurers Standard & Poor’s (S&P) questions the longevity, and success of the hedge fund reinsurance business model.Hedge fund reinsurers continue to struggle in the softening reinsurance marketplace, exacerbated read the full article →

Third Point leads on Q2 2016 hedge fund reinsurer investment returns

Third Point Re, the Bermudian reinsurance firm backed by Daniel Loeb’s Third Point LLC hedge fund, has come out on top after the second-quarter when the firms investment portfolio return far outperformed the other main hedge fund reinsurer Greenlight Re.In the second quarter of 2016 Third Point Re has achieved read the full article →

Third Point Re renews investment agreement with Loeb’s hedge fund

Bermuda based total return reinsurance firm Third Point Re has renewed its investment management agreements with Daniel Loeb's Third Point LLC for a further five years, and added an agreement between the reinsurers U.S. arm and the hedge fund manager.When reinsurance firm Third Point Re launched in 2011 it retained read the full article →

Hedge fund reinsurer investment fortunes reverse in Q2 2016

Fortunes of the two main hedge fund reinsurance strategy proponents, David Einhorn backed Greenlight Re and Daniel Loeb backed Third Point Re, have reversed in the second-quarter to-date, with Einhorn's Greenlight Re suffering an investment loss, while Loeb's Third Point Re reported positive returns.The first-quarter of 2016 saw Greenlight Re read the full article →