Third Point Reinsurance Ltd. - Investors - Financial Information

Third Point Re

Property & Casualty Reinsurer

Investment Performance
The following figures are estimated net returns on net investments managed by Third Point LLC for the current monthly and year-to-date periods. Corresponding results for our reinsurance operations are not available. Results of our net investments managed by Third Point LLC for such periods are based on information provided by our investment manager. This information has not been audited.

Effective August 31, 2018, we transitioned from our separately managed investment account structure to investing in the Third Point Enhanced LP. In addition, certain collateral assets supporting reinsurance contracts and certain other investment assets are managed by Third Point LLC from the effective date. See additional information in our public filings with the Securities and Exchange Commission.

The estimated net returns reflect the combined results of investments managed on behalf of Third Point Reinsurance Company Ltd. and Third Point Reinsurance (USA) Ltd. by Third Point LLC prior to the transition date of August 31, 2018 and the investment in the Third Point Enhanced LP and collateral assets and certain other assets from the date of the transition.

	Jan	Feb	Mar	Apr	May	June	July	Aug	Sept	Oct	Nov	Dec	YTD¹
2020	0.5%	-3.3%	-4.5%	3.5%	1.0%	0.9%	2.2%	3.2%	-0.7%	-0.4%	4.2%	3.5%	10.6%
2019	2.6%	2.3%	2.1%	1.5%	-1.5%	3.0%	1.0%	0.0%	-1.0%	-0.3%	1.3%	1.2%	12.8%
2018	4.0%	-3.0%	-1.2%	0.5%	1.0%	-0.6%	-0.2%	0.1%	0.0%	-6.6%	1.2%	-6.0%	-10.7%
2017	2.6%	2.1%	0.9%	1.6%	2.2%	0.5%	1.0%	1.3%	1.0%	2.6%	0.1%	-0.1%	17.8%
2016	-3.3%	-0.6%	2.0%	1.8%	1.7%	0.4%	2.6%	0.5%	0.9%	-1.1%	-1.1%	0.5%	4.3%
2015	-2.3%	4.4%	1.0%	0.5%	1.9%	-0.6%	0.8%	-5.1%	-4.4%	4.6%	-0.3%	-1.2%	-1.6%
2014	-1.8%	4.2%	0.8%	-1.4%	1.7%	1.7%	-1.2%	1.6%	-0.3%	-1.3%	2.3%	-1.2%	5.1%
2013 ²	-	-	-	-	-	-	-	-0.7%	2.5%	1.1%	2.5%	2.2%	23.9%

Updated: December 31, 2020

Investment Portfolio Return Summaries

^{(1) Investment returns are calculated monthly and compounded to calculate the annual returns. Actual investment income may vary depending on cash flows into or out of the investment account. Past performance is not necessarily indicative of future results.}
^{(2) The annual performance calculation for 2013 includes the monthly performance returns for the entire calendar year although the monthly returns are only displayed from the time of the TPRE Initial Public Offering in August 2013.}

All information provided herein has been prepared by Third Point LLC at the request of Third Point Reinsurance Ltd. (“TP Re”). Sector and geographic categories are determined by Third Point LLC in its sole discretion. All P&L and performance results are based on the net asset value of the two investment accounts of TP Re prior to the transition date of August 31, 2018 and the investment in the Third Point Enhanced LP and collateral assets from the date of transition (together, the "Accounts") and are presented net of management fees, brokerage commissions, administrative expenses, and accrued performance allocation, if any, and include the reinvestment of all dividends, interest, and capital gains. Performance allocation is accrued monthly but deducted annually. All performance results are estimates and should not be regarded as final until audited financial statements are issued. Past performance is not necessarily indicative of future results. All information provided herein is for informational purposes only and should not be deemed as a recommendation to buy or sell securities. All investments involve risk including the loss of principal. See additional information regarding risk factors in our public filings with the Securities and Exchange Commission. This communication does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product.

Third Point Re

NYSE: TPRE

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