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Dan Loeb's Third Point Reinsurance files for a $250 million IPO
By: Renaissance Capital
Third Point Reinsurance, a Bermuda-based specialty property and casualty reinsurer, filed on Monday with the SEC to raise up to $250 million in an initial public offering. The Pembroke, Bermuda-based company, which was founded in 2011 and booked $299 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol TPRE. Third Point Reinsurance initially filed confidentially on May 14, 2013. J.P. Morgan, Credit Suisse, Morgan Stanley, BofA Merrill Lynch and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.