May 19, 2015
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 …
May 8, 2015
Bermuda-based Third Point Reinsurance Ltd. reported first quarter net income of $50.5 million, or $0.47 per diluted common share, compared with net income of $39.8 million, or $0.37 per diluted common share, for the first quarter of 2014, an increase …
April 24, 2015
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 …
March 20, 2015
A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-” of Third Point Reinsurance Company Ltd. (TPRCL) (Bermuda) and Third Point Reinsurance (USA) Ltd. (TPRUSA) (Bermuda). A.M. Best also has …
March 13, 2015
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 …
February 12, 2015
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 …
February 17, 2014
Pine River Capital Management LP, the $14.3 billion hedge-fund firm founded by Brian Taylor, is raising capital for a reinsurance company in the latest push by a money manager into the industry. The firm is seeking to raise $500 million …