Third Point Reinsurance Ltd. Announces CEO Transition
"After many years of working with Dan, we are thrilled that he is taking on this new role. A proven leader with a strong track record of success and deep expertise across all aspects of the business, he is exceptionally well qualified to take the Company to its next phase of development and growth," said Board Chairman
"On behalf of the Board of Directors, I would like to thank Rob for his leadership at TPRE. During his time as CEO, TPRE has taken important steps to improve its underwriting profitability, added key talent to its underwriting team, and begun to diversify its business mix. Rob leaves the company with a strong balance sheet and well positioned to capitalize on new opportunities,"
"I am excited to serve as TPRE's next CEO and work even more closely with the Company's Board, management team and talented employees as we build on our momentum and deliver even greater value for our customers and shareholders,"
"I am proud to have served at TPRE since its founding seven years ago and to have been part of the great progress we've made in building it into an innovative company with a team that is second-to-none,"
About the Company
The Company is a public company listed on the
Safe Harbor Statement Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Actual events, results and outcomes may differ materially from the Company's expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: results of operations fluctuate and may not be indicative of our prospects; more established competitors; losses exceeding reserves; highly cyclical property and casualty reinsurance industry; downgrade, withdrawal of ratings or change in rating outlook by rating agencies; significant decrease in our capital or surplus; dependence on key executives; dependence on letter of credit facilities that may not be available on commercially acceptable terms; inability to service our indebtedness; limited cash flow and liquidity due to our indebtedness; inability to raise necessary funds to pay principal or interest on debt; potential lack of availability of capital in the future; credit risk associated with the use of reinsurance brokers; future strategic transactions such as acquisitions, dispositions, mergers or joint ventures; technology breaches or failures, including cyber-attacks; lack of control over
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