Third Point Re CEO praises strategy avoiding nat cat losses
Third Point Reinsurance CEO said on Oct. 4 that the company experienced only “modest” losses from natural catastrophes in North America as its strategy paid off.
"Third Point Re does not write any catastrophe excess of loss contracts and had only modest losses from the recent catastrophe events," commented Rob Bredahl, CEO of Third Point Re.
"Our total return business model is to manage our investment portfolio for higher expected returns while avoiding highly volatile forms of reinsurance such as catastrophe excess of loss treaties and other event covers.”
The company added that the estimated net investment return on its more than $2.5 billion investment portfolio was 14.4 percent year to date through September.
Third Point Re estimates its total third quarter catastrophe losses at less than $10 million against total industry losses that many industry experts believe could exceed $100 billion.
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