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Loeb’s Reinsurer Slumps This Year as Hedge-Fund Investors Gain

Bloomberg – Dan Loeb’s foray into the reinsurance industry is proving to be more volatile for investors than his hedge-fund returns.

Third Point Reinsurance Ltd., a Bermuda-based firm that relies on the billionaire money manager to oversee its assets, rallied about 50 percent last year after its initial public offering. Since peaking on Dec. 20, shares have slid 17 percent. Loeb’s main hedge fund, in contrast, returned 6.4 percent this year through August after gaining 25 percent in 2013.

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