Third Point Reinsurance Ltd
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Financials : Insurance | Small Cap Value
Based in Bermuda
Company profile

Third Point Reinsurance Ltd. is a holding company. Through the Company's reinsurance subsidiaries, it provides property and casualty reinsurance coverage to insurance and reinsurance companies. The Company's segments include Property and Casualty Reinsurance, and Corporate. The Company's investable assets are managed by its investment manager, Third Point LLC. The Company also writes reinsurance contracts that provide protection against adverse development on loss reserves. Through Third Point LLC, the Company makes investments globally in all sectors, and in equity, credit, commodity, currency, options and other instruments. The Company also acts as the underwriter for the majority of the premium that it underwrites. The Company writes reinsurance contracts covering product lines, such as property, workers' compensation, auto, general liability, professional liability, credit and financial lines, and multi-line.

Closing Price
$9.50
Day's Change
0.00 (0.00%)
Bid
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Ask
--
B/A Size
--
Day's High
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Day's Low
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Volume
(Light)
Volume:
0

10-day average volume:
297,530
0

Tesla recalls older Model X vehicles due to power-steering issue

7:35 pm ET February 12, 2020 (MarketWatch)
Print

Tesla Inc. (TSLA) has initiated a recall of Model X cars that were built before October 2016 to retrofit a power-steering component. "We have observed excessive corrosion on the bolts that attach this component to the steering gear in affected Model X vehicles," Tesla says on its website (https://www.tesla.com/support/model-x-steering-assist-motor-bolt-recall). "This corrosion has been observed primarily in very cold climates that use calcium or magnesium road salts rather than sodium chloride." Reuters, which first reported the recall Wednesday afternoon (https://www.reuters.com/article/us-tesla-recall/tesla-recalls-15000-model-x-suvs-for-power-steering-issue-in-north-america-idUSKBN2062XO), said that fewer than 15,000 Model X units are affected by the voluntary recall. The recall pales in comparison to Tesla's 2018 recall of more than 120,000 Model S cars (http://www.marketwatch.com/story/tesla-recalls-123000-model-s-cars-over-possible-power-steering-failure-2018-03-29), which was due to a similar power-steering issue. Tesla shares declined about 2% in after-hours trading Wednesday, after closing with a 0.9% decline at $767.29.

-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

February 12, 2020 19:35 ET (00:35 GMT)

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