AVI slams Daniel Loeb's Third Point Investors for proposed reinsurance pivot

'Appalling corporate governance'

Investment management company Asset Value Investors (AVI) has lambasted Third Point Investors (TPOU) for its “appalling corporate governance” as the trust shifts towards reinsurance.

Today (21 May), TPOU, an investment trust owned by billionaire Daniel Loeb's hedge fund Third Point, revealed that it has entered into an all-share deal to acquire Malibu Life Reinsurance SPC.  The trust said the proposed purchase seeks to create a "fast-growing reinsurance operating company, targeting mid-teens return on equity by the end of 2027".  AVI Japan Opps boasts 15% NAV jump as it seeks Fidelity trust merger As part of the transaction, TPOU will shift its current investment strategy towards a fully capitalised, London-listed reinsurance operating company. Third Point I...