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 …
With U.S. equities declining in the wake of China’s currency devaluation, hedge fund manager David Einhorn may be one of the few stock pickers to get a direct boost from the yuan’s sudden decline. Greenlight Capital Re Ltd., an insurer …
Cayman Islands-based Greenlight Re reported a net loss of $39.6 million for the second quarter of 2015, compared to net income of $109.6 million for the same period in 2014. The net loss per share for the second quarter of …
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 …
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 …
Sandell Asset Management Corp., the activist hedge-fund firm run by Tom Sandell, started a Bermuda-based reinsurer to support its investing strategy. Sandell Re will rely on the hedge fund to oversee the reinsurer’s assets, the New York-based firm said Thursday …
Greenlight Capital Re Ltd., which is based in the Cayman Islands, reported net income of $60.7 million for the fourth quarter of 2014, compared to net income of $83.9 million for the same period in 2013. Net income for the …
