#partnerre

PartnerRe declares losses in latest interim numbers

According to the Covéa-owned reinsurer, here’s how it fared in the periods ended June 30: Metric Q2 2022 Q2 2021 H1 2022 H1 2021 Gross written premium US$2.15 billion US$2.04 billion US$4.98 billion US$4.51 billion Net income/(loss) attributable to common shareholder US$(606 million) US$314 million US$(1.15 billion) US$248 million Operating income US$328 million US$151…

PartnerRe makes key hire for executive leadership line-up

Sima Ruparelia is joining PartnerRe in London to serve as chief actuarial and risk officer from June 27. A fellow of the Institute and Faculty of Actuaries and an EY alumnus, Ruparelia was previously chief actuary and portfolio manager for UK, Europe, global specialty, and Talbot at AIG. Credentials of the incoming PartnerRe executive leadership team member also include time spent at Equitas and…

PartnerRe unveils millions in losses in Q1 2022

According to PartnerRe’s Q1 2022 report, the Bermuda-based business widened its loss from $66 million in the same quarter last year. The $539 million beating was largely due to unrealized losses of $821 million on fixed maturities and short-term investments resulting from interest rate increases. In terms of underwriting result, here’s how the reinsurance group fared in the three-month…

PartnerRe suffers millions of losses in Q1 2022

According to PartnerRe’s Q1 2022 report, the Bermuda-based business widened its loss from US$66 million in the same quarter last year. The US$539 million beating was largely due to unrealised losses of US$821 million on fixed maturities and short-term investments resulting from interest rate increases. In terms of underwriting result, here’s how the reinsurance group fared in the three-month…

Adjusted PartnerRe price revealed

The revived multibillion-dollar sale of reinsurer PartnerRe to French mutual insurer Covéa is no longer so cheap. In a release, Amsterdam-headquartered diversified holding company Exor noted: “The agreed cash consideration of $9 billion to be paid by Covéa at closing of the transaction was based on a consolidated common shareholders’ equity value of $7 billion. “Based on PartnerRe’s common…

PartnerRe expands Lorenz Re sidecar with $67m Torricelli quota-share

Bermuda headquartered pure-play reinsurance firm PartnerRe has expanded its third-party capital activities at the renewal, adding a new Torricelli segregated account to its Lorenz Re sidecar vehicle and completing a $67 million quota share with investors. (more…)