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Loeb Reinsurer Targets Mortgage Deals to Halt Underwriting Loss

  • Third Point Re has established new relationships, CFO says
  • Contracts may help improve combined ratio to less than 100%

Third Point Reinsurance Ltd., which counts on hedge fund manager Dan Loeb to oversee investments, is seeking more business with home-loan guarantors as part of an effort to reverse underwriting losses.

“We have participated in a few opportunities to reinsure some of those private mortgage insurers,” Chief Financial Officer Chris Coleman said Thursday at the Bernstein Financials Summit. “That is an example of something more recent where we’ve increased our exposure and have established a couple of new relationships.”