Third Point Re commences IPO

Third Point Re has commenced its IPO on the New York Stock Exchange, with an initial common share price expected to be between $12:50 and $14:50.

The Bermuda-domiciled reinsurer, which is led by industry veteran John Berger, began underwriting operations in January 2012 and is the first of a new class of Island reinsurers that includes PaC Re and SAC Re to make IPO.