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Risk Management

PartnerRe projects up to $120M in Canadian, European flood losses

Sarah Veysey

July 16, 2013 Reprints

Agents & Brokers Catastrophes European Union P/C Insurers Partner Re Bermuda Canada More + Less -

PartnerRe Ltd. said it is likely to record pretax losses of $50 million to $60 million from June floods in Europe and $45 million to $60 million from June floods in Alberta, Canada.

PartnerRe said Monday that, given the extent and timing of the destruction in Calgary and surrounding areas, there still is substantial uncertainty about the size of its loss from the Canadian floods.

The Pembroke, Bermuda-based reinsurer said the losses would largely affect its catastrophe segment and would be reflected in its second-quarter results, which will be released on July 29.

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PartnerRe projects up to $120M in Canadian, European flood losses

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