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Reinsurer Third Point Re posts $14.7 million Q4 loss

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Bermuda-based Third Point Reinsurance Ltd. has posted a loss of $14.7 million in the last quarter of 2014, reported The Royal Gazette.

Gross premiums for the period increased to $253.8 million, Third Point Reinsurance said.

"The overall results for the quarter were disappointing due to challenging investment market conditions," said John Berger, CEO of the reinsurer.

The reinsurer's net income for 2014 decreased 77.8% year on year to $50.4 million.

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