Filing Shows Third Point May Enter Reinsurance

Sep 6 2011 | 3:59am ET

Daniel Loeb appears to be following his friend David Einhorn into the reinsurance business.

Loeb's Third Point and Alterra Capital Holdings reinsurance chief John Berger may be going into business together, according to an Alterra filing with the Securities and Exchange Commission. In that disclosure, Alterra said that Berger, CEO of its reinsurance business, had left the firm on Aug. 1 to join Third Point Re.

Alterra offered no further information about the apparently new company, and Reuters found no such company registered in reinsurance hotspot Bermuda or eight other top jurisdictions, including Third Point's home base of New York.

Einhorn has been in the reinsurance business since 2004, when he founded Greenlight Capital Re. The company invests its premiums with Einhorn's hedge fund, Greenlight Capital.

Word of his potential new business line comes as Loeb offered investors some bad news about August: Third Point's flagship hedge fund shed 2.8% on the month to cut its year-to-date gain to 3.9%.

In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel Supports Manhattan Real Estate With Record Deal

Sep 16 2015 | 3:04pm ET

Never count hedge funds out of a big property deal. The Manhattan real estate market...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note