old_string = "this is going to have a full stop. some written sstuff!"
k = old_string.rfind(".")
new_string = old_string[:k] + ". - " + old_string[k+1:]
a = "A long string with a . in the middle ending with ."
fchar = '.'
rchar = '. -'
a[::-1].replace(fchar, rchar[::-1], 1)[::-1]
Out[2]: 'A long string with a . in the middle ending with . -'