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Third Point Re Announces Fourth Quarter 2020 Earnings Results
Net income of $134.4 million, or $1.43 per diluted common share, for the fourth quarter of 2020
Return on beginning shareholders equity of 9.4% for the fourth quarter of 2020
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HAMILTON, Bermuda, Feb. 23, 2021 /PRNewswire/ Third Point Reinsurance Ltd. ( Third Point Re or the Company ) (NYSE:TPRE) today announced results for its fourth quarter ended December 31, 2020.
Earnings Summary
Third Point Re reported net income available to common shareholders of $134.4 million, or $1.43 per diluted common share, for the three months ended December 31, 2020, compared to net income available to common shareholders of $29.7 million, or $0.32 per diluted common share, for the three months ended December 31, 2019. For the year ended December 31, 2020, Third Point Re reported net income available to common shareholders of $143.5 million, or $1.53 per diluted common share
Beating Mauritius
FDI surge from Cayman Islands makes it the new Mauritius; chorus grows China might be routing investments into India through it
Illustration by Raj Verma
Cayman Islands is situated in Caribbean Sea, 480 miles southwest of Miami, USA. The three islands are spread over 101 square miles, have a population of 65,000 and gross domestic product (GDP) of $5.5 billion, slightly more than that of the Union Territory of Puducherry.
Still, it was the third-largest contributor of equity foreign direct investment (FDI) in India in the first six months of FY21 ($2 billion). Only Singapore ($8.3 billion) and the US ($7.13 billion) were ahead. The tiny British Overseas Territory even bettered Mauritius, traditionally the biggest source of FDI into India.