Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide.
No risks detected for TPRE from our risk checks.
Moderate growth potential and slightly overvalued.
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.
7 Day Return
1 Year Return
Return vs Industry: TPRE underperformed the US Insurance industry which returned 13% over the past year.
Return vs Market: TPRE underperformed the US Market which returned 14% over the past year.
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
1 week ago | Simply Wall StThe Third Point Reinsurance (NYSE:TPRE) Share Price Is Down 21% So Some Shareholders Are Getting Worried
1 month ago | Simply Wall StWhen Should You Buy Third Point Reinsurance Ltd. (NYSE:TPRE)?
2 months ago | Simply Wall StWhat Kind Of Share Price Volatility Should You Expect For Third Point Reinsurance Ltd. (NYSE:TPRE)?
Is Third Point Reinsurance undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TPRE ($10.79) is trading below our estimate of fair value ($13.12)
Significantly Below Fair Value: TPRE is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: TPRE is unprofitable, so we can't compare its PE Ratio to the 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 (0.7x) compared to the US Insurance industry average (1.1x).
How is Third Point Reinsurance forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TPRE is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).
Earnings vs Market: TPRE is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: TPRE's is expected to become profitable in the next 3 years.
Revenue vs Market: Insufficient data to determine if TPRE's revenue is forecast to grow faster than the US market.
High Growth Revenue: Insufficient data to determine if TPRE's revenue is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if TPRE's Return on Equity is forecast to be high in 3 years time
How has Third Point Reinsurance performed over the past 5 years?
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 -14.3% 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 (32.1%).
Return on Equity
High ROE: TPRE has a negative Return on Equity (-9.19%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
How is Third Point Reinsurance's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: TPRE has a low level of unsold assets or inventory.
Debt Coverage by Assets: TPRE's debt is covered by short term assets (assets are 21.3x debt).
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: TPRE has been profitable on average in the past, therefore cash runway is not a concern.
Forecast Cash Runway: TPRE has been profitable on average in the past, therefore cash runway is not a concern.
Financial Institutions Analysis
Asset Level: TPRE's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if TPRE has a sufficient allowance for bad loans.
Low Risk Liabilities: TPRE reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if TPRE has an acceptable proportion of non-loan assets held.
Low Risk Deposits: TPRE has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if TPRE has an appropriate level of bad loans.
What is Third Point Reinsurance's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate TPRE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate TPRE's dividend yield against the top 25% of dividend payers, as the company has not reported any 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.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Dan Malloy (59yo)
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. Mr. Malloy has been the ...
CEO Compensation Analysis
Compensation vs Market: Dan's total compensation ($USD1.91M) is about average for companies of similar size in the US market ($USD2.52M).
Compensation vs Earnings: Dan's compensation has been consistent with company performance over the past year.
|CEO & Director||0.8yrs||US$1.91m||0.69% $6.5m|
|Chief Financial Officer||5.3yrs||US$1.40m||0.35% $3.3m|
|Chief Risk Officer||6.2yrs||US$1.08m||0.20% $1.9m|
|Chief Accounting Officer||2.9yrs||no data||0.097% $915.4k|
|Executive VP||4.1yrs||no data||0.13% $1.3m|
|Chief Reserving Actuary||1.3yrs||no data||0.086% $817.2k|
|Chief Pricing Actuary of Third Point Reinsurance Company Ltd.||1.1yrs||no data||no data|
|President of Third Point Reinsurance (USA) Ltd.||5.2yrs||no data||no data|
|Senior Vice President of Underwriting of Third Point Reinsurance Company Ltd.||0.6yrs||no data||no data|
|Senior Vice President of Marketing & Investments of Third Point Re Marketing (UK) Limited||0.3yrs||no data||no data|
Experienced Management: TPRE's management team is considered experienced (2.1 years average tenure).
|CEO & Director||0.8yrs||US$1.91m||0.69% $6.5m|
|Lead Independent Director||2yrs||US$250.00k||0.18% $1.7m|
|Director||0.3yrs||no data||0.0054% $50.7k|
|Independent Director||8yrs||US$200.00k||0.058% $547.0k|
|Chairman||2yrs||no data||0.17% $1.6m|
|Independent Director||6.3yrs||US$200.00k||0.058% $547.0k|
|Independent Director||1.8yrs||US$164.52k||0.017% $165.2k|
|Director||0.5yrs||no data||0.0078% $74.1k|
|Independent Director||6.3yrs||US$235.00k||0.068% $642.7k|
Experienced Board: TPRE's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Third Point Reinsurance Ltd.'s company bio, employee growth, exchange listings and data sources
- Name: Third Point Reinsurance Ltd.
- Ticker: TPRE
- Exchange: NYSE
- Founded: 2011
- Industry: Reinsurance
- Sector: Insurance
- Market Cap: US$945.694m
- Shares outstanding: 91.99m
- Website: https://www.thirdpointre.com
Number of Employees
- Third Point Reinsurance Ltd.
- 3 Waterloo Lane
- HM 08
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|TPRE||NYSE (New York Stock Exchange)||Yes||Class A Common Shares||US||USD||Aug 2013|
|3XP||DB (Deutsche Boerse AG)||Yes||Class A Common Shares||DE||EUR||Aug 2013|
Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide. It underwrites homeowners’ and commercial, workers’ compensation, personal automobile, mortgage, and multi-line reinsurance products; professional, transactional, and general liability reinsurance products; and marine, travel, and extended warranty reinsurance products. The company was incorporated in 2011 and is based in Pembroke, Bermuda.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/26 01:43|
|End of Day Share Price||2020/02/25 00:00|
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.