Third Point Re profit rebound falls short of estimates

Third Point Re missed Wall Street estimates even as it rebounded
from a year-earlier loss to post first-quarter net income of
$104.2mn, driven by resurgent investment earnings.
The Bermudian affiliated with the Third Point LLC New York hedge
fund reported net income of $0.98 a share, short of the $1.02
consensus view of six analysts compiled by MarketWatch.
The total return reinsurer said net investment results swung to
a $128.5mn gain from a net loss of $40.1mn a year earlier....