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 …
Executives at Dan Loeb’s reinsurer, which is headed for its second-straight annual decline in New York trading, told investors not to count on a quick rebound in the industry as competition intensifies. “It’s tough out there,” Robert Bredahl, Third Point …
The owners of hedge fund-backed reinsurers, including one tied to John Paulson, could have to pay more taxes or shift their focus under a bill introduced by Senator Ron Wyden to counter what he called abuses by offshore companies. “For …
Third Point Reinsurance Ltd., co-founded by hedge-fund manager Dan Loeb, said the company is positioned to withstand competition from other investment firms because the industry isn’t as easy to enter as some people think. Fund managers “have a lot of …
The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory …
Investment vehicles set up by Paulson & Co. and Highbridge Capital Management in tax-friendly Bermuda may be under threat from the U.S. Internal Revenue Service. The IRS, in proposed rules published Thursday, said that the favorable treatment enjoyed by insurers …
The Agnelli family’s EXOR SpA, known for investments in cars and soccer, is dismissing the prevailing reinsurance strategies as it seeks to push into the industry with a $6.4 billion takeover. EXOR is shunning the idea that it should take …
Third Point Reinsurance Ltd., which counts Dan Loeb as a founder, said it’s more than just a hedge fund investing vehicle as the Internal Revenue Service weighs tightening regulation for offshore companies. “Anyone that spent a day in our office …
Third Point Reinsurance Ltd., the Bermuda-based company co-founded by hedge-fund manager Dan Loeb, said buying a competitor in the U.S. or Europe could clash with its business model. “One of our strengths is we can tell people that our money …
