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PartnerRe puts Tianjin blast losses at up to $70 million

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PartnerRe Ltd. said its losses from the explosion at the port of Tianjin, China, in August likely would be between $50 million and $70 million.

The Pembroke, Bermuda-based multiline reinsurer said that losses from the explosion would be recorded in its third quarter results.

PartnerRe said Tuesday that it would record the losses in its global property and casualty, speciality, catastrophe and North America segments.