PEMBROKE, Bermuda (AP) _ Third Point Reinsurance Ltd. (TPRE) on Thursday reported fourth-quarter net income of $29.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Pembroke, Bermuda-based company said it had net income of 32 cents.
The property and casualty reinsurance company posted revenue of $260 million in the period.
For the year, the company reported net income of $200.6 million, or $2.16 per share, swinging to a profit in the period. Revenue was reported as $982.7 million.
Third Point Reinsurance shares have fallen nearly 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.49, a drop of 18% in the last 12 months.