Third Point Reinsurance Q1 Profit Down - Quick Facts

(RTTNews) - Third Point Reinsurance Ltd. (TPRE) Thursday reported first-quarter profit of $39.8 million or $0.37 per share, down from $74.4 million or $0.93 per share in the same period last year.

On average, six analysts polled by Thomson Reuters expected the company to earn $0.42 per share for the quarter. Analysts' estimates typically exclude special items. Net-premiums earned increased to $73.3 million from $33.5 million last year. Net investment income totaled $50.0 million, down from $81.4 million last year.

Combined ratio for the quarter was 107.1 percent, compared to 111.6 percent last year.