Third Point Re 2014 profits to slide on weaker investment returns

Third Point Re expects net profits for 2014 to be down by 77 to 79
percent on the prior year despite an improvement in its
underwriting results.
The Bermudian hedge fund reinsurer released estimated financial
and operating results as it filed documents today (20 January) in
relation to a debt offering by its newly formed US subsidiary.
In documents filed with the Securities & Exchange
Commission, the company said it expects full-year net profits of
$47.4mn to $53.4mn, compared to...