September Third Point Reinsurance Ltd. Investor Presentation

A short investor presentation from Dan Loeb’s Third Point Reinsurance, nothing too exciting, but it sheds some light on Loeb’s investments, the re-insurer and readers usually like the slides so enjoy (see returns through August 2014 here).

• Third Point LLC owned and led by Daniel S. Loeb

 

• 21.1% net annualized returns since inception in 1995⁵

 

• Risk-adjusted returns driven by superior security selection and lower volatility

• Exclusive relationship through 2016, followed by successive 3-year terms on renewal

 

• Investments are managed on substantially the same basis as the main Third Point LLC hedge funds

 

• We pay the standard 2% management fee and 20% performance allocation. The performance allocation is subject to a standard high water mark

 

 

 

• Restrictions on leverage, position concentrations and illiquid, private investments

 

• Key man and performance termination provisions

 

• Allowed to diversify portfolio to address concerns of A.M. Best or regulator(s)

 

 

TPRE-Investor-Presentation-Sept-2014_v001_n5w7gf

Third Point Reinsurance TPRE Investor Presentation Sept 2014 v001 n5w7gf