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Bermuda: Third Point Reinsurance winding down catastrophe reinsurance fund

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Bermuda-based Third Point Reinsurance Ltd. has said that it is winding down its catastrophe reinsurance fund, reports ValueWalk.

Although the catastrophe fund has provided attractive returns since its formation in 2012, "we are mindful of the increasingly difficult conditions in the catastrophe reinsurance market in the near term and the increasing value of a broad underwriting platform," said Third Point Reinsurance CEO John Berger.

Third Point Reinsurance said that it would contribute some of its resources into Hiscox Ltd.'s Kiskadee insurance-linked securities platform.

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