Earnings Buzz – Third Point Reinsurance Ltd. (NYSE:TPRE)

On Wednesday, Third Point Reinsurance Ltd. (NYSE:TPRE) stock fell -1.07% and closed at $13.9. The stock opened the session at $14.15 and touched its highest price point at $14.2. Its recent trading capacity is 0 shares versus to its average trading volume of 600604 shares. The company’s stock’s lowest price point for the session stood at $13.8.TPRE traded as low as $ 11.45 in the past 52 weeks, and shares hit its peak level to $17.1.

Third Point Reinsurance Ltd. (NYSE:TPRE) reported results for its fourth quarter ended December 31, 2017.

Third Point Re reported net income available to common shareholders of $44.3 million, or $0.42 per diluted common share, for the three months ended December 31, 2017, compared to a net loss of $46.7 million, or $(0.45) per diluted common share, for the three months ended December 31, 2016. For the year ended December 31, 2017, Third Point Re reported net income available to common shareholders of $277.8 million, or $2.64 per diluted common share, compared to $27.6 million, or $0.26 per diluted common share, for the year ended December 31, 2016.

For the three months ended December 31, 2017, diluted book value per share increased by $0.41 per share, or 2.7%, to $15.65 per share as of December 31, 2017, from $15.24 per share as of September 30, 2017. For the year ended December 31, 2017, diluted book value per share increased by $2.49 per share, or 18.9%, to $15.65 per share from $13.16 per share as of December 31, 2016.

Rob Bredahl, President and Chief Executive Officer commented “Third Point Re generated a market leading return for its shareholders in 2017.  Our return on equity was 2.8% in the fourth quarter bringing the full year to 20.1%, driven largely by strong investment performance”.  “Despite high levels of natural catastrophes throughout 2017, we produced a combined ratio of 107.1% in the fourth quarter and 107.7% for the year.  We have been encouraged by recent improvements in reinsurance terms and conditions and underlying pricing and expect our underwriting results to improve over the next 12 to 24 months.  We remain confident that the improving underwriting environment and our proven investment strategy will continue to produce attractive returns for our shareholders over time.”

Shares of Third Point Reinsurance Ltd. have been recently spotted trading -18.71% off of the 52-week high price. On the other end, company shares have been noted 21.34% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 11.45 – 17.10. Switching over to some distances from popular moving averages, we see that the stock has been recorded -2.76% away from the 50 day moving average and -5.21% away from the 200 day moving average. Moving closer, we can see that shares have been trading -0.68% off of the 20-day moving average.

Hartley Martin

Hartley Martin

Hartley Martin also covers the business news across all market sectors for website. He also has an enormous knowledge of stock market.  Martin holds an MBA degree from University of Florida. He has more than 10 years of experience in writing financial and market news. He previously worked at a number of companies in different role including web developer, software engineer and product manager. He also covers Business news section for our site. Address: 2282 Bedford Street, Birmingham, Alabama Email: Hartleymartin@stocksgeeks.com Zip Code: 35209 Contact number: 205-210-1785

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