Loeb's Third Point Re with first public earnings report

|About: Third Point Reinsurance (TPRE)|By:, SA News Editor

Net income of $46.6M or $0.46 per share compares to $39.6M or $0.45 a year ago. Diluted book value per share of $12.35 gains 2.3% from the end of Q2 and compares to last night's close of $15.12, putting the stock at 1.22x book.

Underwriting improves with the combined ratio of 107.9 falling from 117 a year ago.

Net investment return from Loeb's hedge fund of 4.3% compared to 6.1% a year ago. YTD returns of 16.9% vs. 8.4% a year ago.

CC at 9 ET.

TPRE no trades premarket.