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Loeb’s Reinsurer Shuns U.S., Europe Deals on Investment Rules

Third Point Reinsurance Ltd., the Bermuda-based company co-founded by hedge-fund manager Dan Loeb, said buying a competitor in the U.S. or Europe could clash with its business model.

“One of our strengths is we can tell people that our money is managed” by Loeb’s Third Point LLC, said John Berger, the reinsurer’s chief executive officer, at a conference in New York on Wednesday. For European and U.S.-based companies, there are usually “restrictions on how you can invest the money.”