5 December 2014News

Third Point Re targets the US

Bermuda-based Third Point Reinsurance has set its sights firmly on the US as it appoints two former Alterra execs to head its new operation.

Third Point Re intends to form a new reinsurance subsidiary with an office in the US in order to originate incremental reinsurance business, better serve its US insurance company clients and further cultivate reinsurance broker relationships.

Thomas Wafer and Jonathan Norton have been appointed to help establish and manage the group’s US operations.

In addition to his leadership role with the new subsidiary, Norton will assume the role of chief reserving actuary for the Third Point Re Group.

Norton served as chief actuary of Alterra Reinsurance USA from its inception in May of 2010 until the close of the Markel acquisition in May, 2013.

Wafer served as chairman of global reinsurance for Alterra Capital from March, 2012 the Markel acquisition. He was previously chief executive officer of reinsurance and president of Alterra Reinsurance USA from July, 2011 until March, 2012.

John Berger, chairman, chief executive officer and chief underwriting officer of Third Point Re, said: "Tom, Jonathan and I worked together for over 12 years prior to the formation of Third Point Re. Tom and Jonathan are consummate professionals with long and successful track records in the reinsurance industry. I am thrilled and honoured that they have agreed to join us to help expand our reinsurance underwriting platform."