July 31, 2014 11:55 PM ET


Company Overview of Third Point Reinsurance Ltd.

Company Overview

Third Point Reinsurance Ltd. and its subsidiary, Third Point Reinsurance Company Ltd., provide various specialty property and casualty reinsurance products. The company operates in two segments, Property and Casualty Reinsurance, and Catastrophe Risk Management. The Property and Casualty Reinsurance segment underwrites property, personal automobile, workers compensation, homeowners’, crop insurance, mortgage insurance, and multi-line reinsurance for insurance and reinsurance companies. The Catastrophe Risk Management segment underwrites property catastrophe exposures; and writes excess of loss catastrophe reinsurance. The company was incorporated in 2011 and is based in Pembroke, Bermuda.

The Waterfront

Chesney House

96 Pitts Bay Road

Pembroke,  HM 08


Founded in 2011

20 Employees



Key Executives for Third Point Reinsurance Ltd.

Age: 62
Total Annual Compensation: $1.3M
Chief Financial Officer and Chief Operating Officer
Age: 51
Total Annual Compensation: $1.1M
Executive Vice President of Underwriting
Age: 54
Total Annual Compensation: $900.0K
Compensation as of Fiscal Year 2013.

Third Point Reinsurance Ltd. Key Developments

Third Point Reinsurance Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for 2014

Third Point Reinsurance Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net income of $39.8 million or $0.37 per diluted share compared with $74.4 million, or $0.93 per diluted share, for the first quarter of 2013, a decrease of 46.6%. For the quarter ended March 31, 2014, the company reported diluted book value per share increased by $0.31 per share, or 2.4%, to $13.43 per share from $13.12 per share as of December 31, 2013. Net investment income was $50.0 million, compared to $81.4 million last year. Gross premiums written were $87,587,000 compared to $96,020,000 last year. Net premiums written were $87,587,000 compared to $86,045,000 last year. Net premiums earned were $73,262,000 compared to $33,541,000 last year. Total revenues were $123,297,000 compared to $114,902,000 last year. Return on beginning shareholders' equity was 2.9% compared to 8.6% last year. Return on investments managed by Third Point LLC was 3.1% compared to 8.7% last year. The company is optimistic with results for the remainder of 2014. In its portfolio, the company remains consciously constructive and expects a modest decrease in exposure levels. However, it anticipate 2014 to be a favorable environment for event-driven investing and expect strong outperformance from value stocks. It will continue to focus on compelling opportunities and will look for attractive entry points to initiate or add to positions as a result of short-term market volatility.

Third Point Reinsurance Ltd. to Report Q1, 2014 Results on May 08, 2014

Third Point Reinsurance Ltd. announced that they will report Q1, 2014 results at 5:00 PM, SA Western Standard Time on May 08, 2014

Third Point Reinsurance Ltd., Q1 2014 Earnings Call, May 09, 2014

Third Point Reinsurance Ltd., Q1 2014 Earnings Call, May 09, 2014

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