Third Point Re to expand with London office

Bermuda headquartered, hedge fund backed, reinsurer Third Point Reinsurance Company is planning to expand its footprint in the reinsurance marketing with the opening of an office in London’s financial district. Pending regulatory approval, Third Point Re are launching a subsidiary called Third Point Re Marketing (UK) Limited, which they incorporated as a company at the beginning of August.

We understand the London satellite office will target reinsurance business in the UK and Europe, bringing Third Point Re’s capacity closer to potential customers. It’s likely that underwriting will remain the domain of the Bermudian office at this time and the London office will deal with business development and client relationship management.

Clare Himmer, previously head of treaty reinsurance and an SVP at Allied World Assurance in Bermuda, is to head up the London office as managing director, according to the Royal Gazette.

John Berger, CEO of Third Point Re, told the Royal Gazette; “We are thrilled that someone of Clare’s calibre has joined our organisation. Her 20 years of experience in the field of international reinsurance and her network of market relationships will make her a critical player in expanding our business.”

Third Point Re recently strengthened their Bermuda based underwriting team with two key hires.