Third Point Re

Two of the most prominent hedge fund reinsurance firms have seen an improvement in their investment returns in October, after two consecutive months of deeply negative returns due to financial market volatility.

Financial market volatility has again hit the two most prominent hedge fund reinsurance firms, with both Greenlight Re and Third Point Re reporting another negative month on the investment side of their businesses in September.

Two of the largest hedge fund manager backed reinsurance companies have been hit by the volatility in financial markets during August, with both Greenlight Re and Third Point Re reported to have faced significant dips in return during the month.

Bermuda-headquartered investment-oriented total return strategy reinsurance firm Third Point Re, backed by hedge fund manager Daniel Loeb and his Third Point LLC firm, does not have an ambition to branch out into primary insurance underwriting.

Bermuda-headquartered hedge fund strategy reinsurance firm Third Point Re, backed by Daniel Loeb’s Third Point LLC, had a good first-quarter thanks to a lower combined ratio and good investment results, while the wind-down of its catastrophe ILS fund continues.

Bermuda-located hedge fund strategy reinsurance firm Third Point Re slipped to a loss on lower investment returns in Q4. However, key indicators show ongoing improvement in underwriting returns and even the soon-to-close ILS fund contributed positively again.

Bermuda-based hedge fund strategy reinsurer Third Point Reinsurance, which is backed by hedge fund manager Dan Loeb’s Third Point LLC, is not among the reinsurers looking for scale though a merger or acquisition process at the moment.

Hedge fund strategy reinsurance group Third Point Re has launched a debt offering the proceeds of which will be used to partially finance the capitalisation of its new U.S. subsidiary Third Point Reinsurance (USA) Ltd.

Bermuda-based hedge fund strategy reinsurer Third Point Re is getting closer to being able to start its awaited U.S. reinsurance operations, as the companies it has set up to begin writing U.S. business are now rated by A.M. Best.

Bermuda-based hedge fund strategy reinsurer Third Point Re has begun the process of closing its catastrophe investment fund, part of which involves investing in Hiscox’s Kiskadee ILS platform, with the first $5m having been invested on January 2nd.