Third Point Re keeps AM Best grades but warned on UW

AM Best has affirmed the financial strength and credit ratings
of Third Point Re in a welcome move for the hedge fund reinsurer
after a challenging end to 2016.
The rating company noted however that it is
"concerned" with Third Point Re's recent underwriting
performance and is looking for it to "reverse
course".
And AM Best said it would continue to closely monitor the
Bermudian, warning that if underwriting trends at the reinsurer
deteriorate further it could place negative pressure...