Third Point Reinsurance Ltd. (TPRE) Misses Q4 EPS by 7c

Third Point Reinsurance Ltd. (NYSE: TPRE) reported Q4 EPS of $0.32, $0.07 worse than the analyst estimate of $0.39.

"We are very pleased with our results for the fourth quarter and full year of 2019. Our return on equity was 2.1% in the fourth quarter bringing the full year to 16.7% and our diluted book value per share at the end of the year was $15.04," commented Dan Malloy, Chief Executive Officer. "Our combined ratio for the year was 103.2%, of which 4.1 percentage points, or $29.0 million, was attributable to catastrophe events that occurred during the year. Our combined ratio continues to improve as we execute on our shift in underwriting strategy. Our year to date investment return of 12.8% has contributed significantly to overall profits for the year. With underlying insurance and reinsurance market conditions both improving across many of the lines of business that we write, we believe we are well positioned to deliver increasingly attractive returns to shareholders and remain on track to achieve our goal of underwriting profitability in 2020."

For earnings history and earnings-related data on Third Point Reinsurance Ltd. (TPRE) click here.

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