|Sonali Basak and Jing Cao, Bloomberg|
“Anyone that spent a day in our office would clearly see that we’re a real insurance company,”
Hedge fund managers like Loeb and
Third Point Re wrote
“There’s actually quite a few other companies that would equally fall below the threshold,” especially among insurers that shoulder risks tied to infrequent events, such as natural disasters, he said.
“I’m going to bulldog this until this is resolved,” Wyden, an
Third Point Re’s Coleman said the industry may get direction from the government in the next 30 or 40 days, and that he’s looking forward to receiving clarity.
“The rules have never really been challenged, so in some ways, we welcome the news from the IRS,” he said.
“By investing in our company, you are gaining access to Dan Loeb’s Third Point investment strategy,” Coleman said. “Because his funds are closed to additional investors, this is the only way to gain that exposure.”
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