Dan Loeb’s Third Point Reinsurance investor presentation for March, 2015.
Third Point Reinsurance: Reinsurance Risk Management
Risk Management Culture:
- Reinsurance business plan complements our investment management strategy: no property catastrophe excess treaties on rated balance sheet and premium and reserve leverage lower than peer group
- Company-wide focus on risk management
- Robust underwriting and operational controls
Holistic Risk Control Framework:
- Measure use of risk capital using internally-developed capital model, AM Best BCAR model and Bermuda Monetary Authority BSCR model
- Developed a comprehensive Risk Register that is appropriate for our business model
- Instituted a Risk Appetite Statement that governs overall sensitivities in underwriting, investment, and enterprise portfolio
Ongoing Risk Oversight:
- Own Risk Self Assessment (ORSA) report produced quarterly and provided to management / Board of Directors
- Provides management with meaningful statistics on our current capital requirement and comparisons to our risk appetite statement
- Growing in scope
See full PDF below.
