Third Point Reinsurance 2Q16 Earnings Call Notes

Third Point Reinsurance’s (TPRE) Dan Loeb on Q2 2016 Results

Not sure you can draw a direct connection between Brexit and US election

“Yes, I think people are understably drawing comparisons between Brexit and the US Presidential election and obviously US Presidential election is consequential. But Brexit was a – was a referendum on participation in the EU. This is very different, we’re talking about the leaders of United States. So I think there is – people want to draw comparisons between the sort of populous backlash that promoted Brexit and which I think you could go through and analyze and discuss what the – and asses what the merits were or not for Brexit. I mean, this is very different. We have some very unusual personalities involved in this election. I think they are giving people some concern. I am not going to predict the outcome. But you know, we’re obviously watching the polling very closely. And I think that the election is important, but I think the polling would suggest that we will be in reasonable shape in this election. I just want to leave at that, I don’t want to get too much into the election discussion.”

Unfortunately the poor performance of a couple of hedge funds has hurt the industry

“No, I mean, unfortunately due to the poor performance of a couple hedge funds out there, it’s caused some institutions to rethink their hedge fund strategy and some of them are just completely gone out of the market. We had some exposure to those firms, but the ones that we did have exposure to we’ve have already – that’s already behind us”