Dan Loeb’s Third Point Re To Merge After Years Of Losses

Last week, Third Point Re insurance, which is backed by US hedge-fund manager Daniel Loeb, said it would merge with Sirius International Insurance Group in a cash-and-stock deal worth around $788 million. The deal comes at a pivotal time for both companies. Third Point Re To Merge After Years Of Losses Early last year, reports started to emerge that Sirius International’s parent CMIG, a private investment group, was facing liquidity issues related to a massive debt burden. The parent company, which owed approximately $34 billion in the first half of 2018, missed a bond payment in February 2019. For more…