NYSE:TPRE

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Third Point Reinsurance

Executive Summary

Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide. More Details


Snowflake Analysis

Adequate balance sheet and overvalued.


Similar Companies

Share Price & News

How has Third Point Reinsurance's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TPRE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.7%

TPRE

-5.4%

US Insurance

-4.6%

US Market


1 Year Return

-17.3%

TPRE

-15.8%

US Insurance

11.5%

US Market

Return vs Industry: TPRE underperformed the US Insurance industry which returned -15.8% over the past year.

Return vs Market: TPRE underperformed the US Market which returned 11.5% over the past year.


Shareholder returns

TPREIndustryMarket
7 Day-2.7%-5.4%-4.6%
30 Day13.6%-0.2%-0.9%
90 Day0.8%-2.9%2.2%
1 Year-17.3%-17.3%-13.6%-15.8%14.0%11.5%
3 Year-52.4%-52.4%-3.8%-10.8%34.5%25.6%
5 Year-44.1%-44.1%31.1%14.7%73.0%53.6%

Price Volatility Vs. Market

How volatile is Third Point Reinsurance's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Third Point Reinsurance undervalued compared to its fair value and its price relative to the market?

0.54x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate TPRE's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate TPRE's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: TPRE is unprofitable, so we can't compare its PE Ratio to the US Insurance industry average.

PE vs Market: TPRE is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TPRE's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TPRE is good value based on its PB Ratio (0.5x) compared to the US Insurance industry average (0.9x).


Next Steps

Future Growth

How is Third Point Reinsurance forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

23.9%

Forecasted Insurance industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Third Point Reinsurance has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Third Point Reinsurance performed over the past 5 years?

-4.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TPRE is currently unprofitable.

Growing Profit Margin: TPRE is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TPRE is unprofitable, and losses have increased over the past 5 years at a rate of 4.7% per year.

Accelerating Growth: Unable to compare TPRE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TPRE is unprofitable, making it difficult to compare its past year earnings growth to the Insurance industry (-3%).


Return on Equity

High ROE: TPRE has a negative Return on Equity (-3.31%), as it is currently unprofitable.


Next Steps

Financial Health

How is Third Point Reinsurance's financial position?


Financial Position Analysis

Short Term Liabilities: TPRE's short term assets ($2.5B) exceed its short term liabilities ($719.1M).

Long Term Liabilities: TPRE's short term assets ($2.5B) exceed its long term liabilities ($1.4B).


Debt to Equity History and Analysis

Debt Level: TPRE's debt to equity ratio (8.4%) is considered satisfactory.

Reducing Debt: TPRE's debt to equity ratio has increased from 8.1% to 8.4% over the past 5 years.

Debt Coverage: TPRE's debt is well covered by operating cash flow (64.5%).

Interest Coverage: Insufficient data to determine if TPRE's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is Third Point Reinsurance current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TPRE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TPRE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TPRE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TPRE's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TPRE's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure


CEO

Dan Malloy (60 yo)

1.42yrs

Tenure

US$4,309,230

Compensation

Mr. Daniel V. Malloy III, also known as Dan, has been the Chief Executive Officer of Third Point Reinsurance Ltd. since May 10, 2019 and has been its Director since August 07, 2019 and serves as its Presid ...


CEO Compensation Analysis

Compensation vs Market: Dan's total compensation ($USD4.31M) is above average for companies of similar size in the US market ($USD3.00M).

Compensation vs Earnings: Dan's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Daniel Malloy
CEO, President & Director1.42yrsUS$4.31m0.89%
$ 6.5m
Christopher Coleman
Chief Financial Officer5.92yrsUS$2.11m0.44%
$ 3.2m
Janice Weidenborner
Executive VP4.75yrsUS$1.41m0.20%
$ 1.5m
Nicholas James Campbell
Chief Risk Officer6.83yrsUS$1.81m0.29%
$ 2.1m
David William Junius
Chief Operating Officerno datano data0.23%
$ 1.7m
Justin Brenden
Executive VP & Chief Reserving Actuary1.92yrsno data0.16%
$ 1.2m
Amanda Kisala
Senior VP1.75yrsno datano data
David Sinclair
Senior Vice President of Marketing & Investments of Third Point Re Marketing (UK) Limitedno datano datano data
Thomas Wafer
President of Third Point Reinsurance (USA) Ltd.5.83yrsno datano data
Tracey Gibbons
Senior Vice President of Underwriting of Third Point Reinsurance Company Ltd.1.25yrsno datano data

3.3yrs

Average Tenure

53yo

Average Age

Experienced Management: TPRE's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Daniel Malloy
CEO, President & Director1.42yrsUS$4.31m0.89%
$ 6.5m
Joseph Dowling
Independent Director0.92yrUS$64.66k0.025%
$ 184.3k
Joshua Targoff
Director8.83yrsno data0.23%
$ 1.6m
Raphael de la Gueronniere
Independent Director6.92yrsUS$200.00k0.077%
$ 563.3k
Mehdi Mahmud
Director0.17yrno data0.026%
$ 191.3k
Gretchen Hayes
Independent Director2.42yrsUS$200.00k0.037%
$ 271.8k
Siddhartha Sankaran
Independent Chairman of the Board0.17yrUS$112.55k0.45%
$ 3.3m
Mark Parkin
Independent Director6.92yrsUS$235.00k0.088%
$ 638.7k

1.8yrs

Average Tenure

58yo

Average Age

Experienced Board: TPRE's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TPRE insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Third Point Reinsurance Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Third Point Reinsurance Ltd.
  • Ticker: TPRE
  • Exchange: NYSE
  • Founded: 2011
  • Industry: Reinsurance
  • Sector: Insurance
  • Market Cap: US$726.917m
  • Shares outstanding: 92.60m
  • Website: https://www.thirdpointre.com

Number of Employees


Location

  • Third Point Reinsurance Ltd.
  • Point House
  • 3 Waterloo Lane
  • Pembroke
  • HM 08
  • Bermuda

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TPRENYSE (New York Stock Exchange)YesClass A Common SharesUSUSDAug 2013
3XPDB (Deutsche Boerse AG)YesClass A Common SharesDEEURAug 2013

Biography

Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide. It underwrites homeowners’ and commer ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/29 00:47
End of Day Share Price2020/10/28 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.