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Third Point Re CEO Says Not Any Dummy Can Start a Reinsurer

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Third Point Reinsurance Ltd., co-founded by hedge-fund manager Dan Loeb, said the company is positioned to withstand competition from other investment firms because the industry isn’t as easy to enter as some people think.

Fund managers “have a lot of money, and they go, ‘Hey, we can get any dummies to run a reinsurance company,’’ Third Point Re Chief Executive Officer John Berger said Tuesday at a conference sponsored by Morgan Stanley. Because of scrutiny from ratings firm A.M. Best, which grades the financial strength of insurers, ‘‘it’s going to be increasingly difficult for new companies to form.’’