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Third Point Re expects $10M of initial net losses from Q3 catastrophes

Third Point Reinsurance Ltd. expects initial net losses of less than $10 million from third-quarter catastrophes.

Third Point Re President and CEO Rob Bredahl said the company does not write any catastrophe excess of loss contracts. He also disclosed that the company's estimated net investment return on its investment portfolio was 14.4% year-to-date through September.