Third Point Reinsurance Profit Up 32% - Quick Facts

(RTTNews) - Third Point Reinsurance Ltd. (TPRE) Wednesday reported fourth-quarter net earnings of $80 million or $0.75 per share compared with $60.7 million or $0.76 per share last year. Earnings-per-share results for the recent quarter reflect a higher share count.

Analysts polled by Thomson Reuters estimated earnings of $0.65 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter climbed to $145.6 million from $106 million in the prior year, on higher premiums and investment income.

Net premiums earned for the quarter were $58.5 million compared with $33.5 million in the prior year.

Analysts estimated revenues of $38.42 million for the quarter.

Combined ratio for the quarter improved to 106.3 percent from 127 percent last year.

Diluted book value per share was $13.12 as of December 31, 2013, an increase of $2.23, or 20.5%, for the year.