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Third Point Investor Presentation

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Third Point Investor Presentation
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  For Information Purposes Only   Investor Presentation OCTOBER 2014  For Information Purposes Only CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Certain statements and information in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 . The words “believe,” “anticipate,” “plan,” “intend,” “foresee,” “guidance,” “potential,” “expect,” “should,” “will” “continue,” “could,” “estimate,” “forecast,” “goal,” “may,” “objective,” “predict,” “projection,” or similar expressions are intended to identify forward-looking statements (including those contained in certain visual depictions) in this presentation. These forward-looking statements reflect the Company’s current expectations and/or beliefs concerning future events. The Company has made every reasonable effort to ensure that the information, estimates, forecasts and assumptions on which these statements are based are current, reasonable and complete. However, these forward-looking statements are subject to a number of risks and uncertainties that may cause the Company’s actual performance to differ materially from that projected in such statements. Although it is not possible to identify all of these risks and factors, they include, among others, the following: (i) limited historical information about the Company; (ii) operational structure currently is being developed; (iii) fluctuation in results of operations; (iv) more established competitors; (v) losses exceeding reserves; (vi) downgrades or withdrawal of ratings by rating agencies; (vii) dependence on key executives; (viii) dependence on letter of credit facilities that may not be available on commercially acceptable terms; (ix) potential inability to pay dividends; (x) unavailability of capital in the future; (xi) dependence on clients' evaluations of risks associated with such clients' insurance underwriting; (xii) suspension or revocation of reinsurance license; (xiii) potentially being deemed an investment company under United States federal securities law; (xiv) potential characterization of Third Point Re and/or Third Point Reinsurance Company Ltd. as a PFIC; (xv) dependence on Third Point LLC to implement the Company's investment strategy; (xvi) termination by Third Point LLC of the investment management agreement; (xvii) risks associated with the Company's investment strategy being greater than those faced by competitors; (xviii) increased regulation or scrutiny of alternative investment advisors affecting the Company's reputation; (xix) potentially becoming subject to United States federal income taxation; (xx) potentially becoming subject to United States withholding and information reporting requirements under the FATCA provisions; and (xxi) other risks and factors listed under “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and other periodic disclosures filed with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date made and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. This presentation may also contain non-GAAP financial information. The Company’s management uses this information in its internal analysis of results and believes that this information may be informative to investors in gauging the quality of the Company’s financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. For additional information regarding these non-GAAP measures, including any required reconciliations to the most directly comparable financial measure calculated according to GAAP, see in the Appendix section of this presentation. 2  For Information Purposes Only OUR COMPANY ãSpecialty property & casualty reinsurer based in Bermuda ã A- (Excellent) financial strength rating from A.M. Best Company ãBegan operations in January 2012 and completed IPO in August 2013 ãInvestment portfolio managed by Third Point LLC ãTotal return focused  – Flexible and opportunistic reinsurance underwriting  – Market-leading investment management  3  For Information Purposes Only KEY METRICS 4 6 Months Ended June 30, 2014 12 Months Ended December 31, 2013 12 Months Ended December 31, 2012 Diluted Book Value Per Share $13.72 $13.12 $10.89 Shareholders’ Equity $1.47 billion $1.39 billion $869 million Return on Beginning Shareholders’ Equity 5.1% 23.4% 13.0% Growth in Diluted Book Value Per Share 4.6% 20.5% 11.9% Cumulative Growth in Diluted Book Value Per Share from December 31, 2011 1 41.0% 34.8% 11.9% 1 Diluted Book Value Per Share as of December 31, 2011 = $9.73
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