AMENDMENT No. 2 TO EMPLOYMENT AGREEMENT

THIS AMENDMENT No. 2 TO EMPLOYMENT AGREEMENT (“Amendment No. 2”), is entered into as of May 4, 2016, by and between Third Point Reinsurance Ltd., a Bermuda company (the “Company”), and Daniel Victor Malloy III (the “Executive”).

WHEREAS, the Company and the Executive entered into a certain Employment Agreement dated as of January 23, 2012, and an Amendment No. 1 to Employment Agreement dated as of April 1, 2015 (the “Employment Agreement”); and

WHEREAS, the parties wish to extend the Executive’s Employment Term for an additional three year period following the initial three years of the Employment Term, continuing effectiveness of this Employment Agreement from January 23, 2015; and

WHEREAS, in consideration of the mutual agreements set forth below and for other good and valuable consideration given by each party to this Amendment No. 2 to the other, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree to amend the Employment Agreement on the terms set forth below.

NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:

1.      Section 1, Employment Term, of the Employment Agreement shall be amended to read in its entirety as follows:

“1. Employment Term. Except for earlier termination as provided for in Section 5

hereof, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to be employed by the Company, subject to the terms and provisions of this Agreement, for the period commencing on January 23, 2015 (the “Effective Date”) and ending on the third anniversary of such date (the “Employment Term”); provided that on the third anniversary of the Effective Date, and on each anniversary of the Effective Date thereafter, the Employment Term shall be extended for an additional year, unless either the Executive or the Company shall have given notice at least 90 days prior to such anniversary not to extend the Employment Term.”

2.    The parties hereto agree that except as specifically set forth in this Amendment No. 2, each and every provision of the Employment Agreement shall remain in full force and effect as set forth therein.

IN WITNESS WHEREOF, the Company has caused this Amendment No. 2 to be executed, and the Executive has hereunto set his hand, in each case effective as of the day and year first above written.

THIRD POINT REINSURANCE LTD.

_By: /s/ John R. Berger

_________________________________
Name: John R. Berger
Title: Chairman and Chief Executive Officer

_By: /s/ Christopher S. Coleman

_________________________________
Name: Christopher S. Coleman
Title: Chief Financial Officer

EXECUTIVE

/s/ Daniel Victor Malloy III

________________________________________
Daniel Victor Malloy III