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International

PartnerRe in red with over $1.5 billion net loss in first nine months

November 10, 2022 Reprints

Bermuda-based reinsurer PartnerRe Ltd. posted a net loss of more than $1.5 billion in the first nine months of the year – down from a profit of $317 million in the year-ago comparable period, The Royal Gazette reported. The high net losses were driven by unrealized losses on fixed maturities and short-term investments. PartnerRe saw about 4% year-on-year increase in large losses to $434 million, driven by Hurricane Ian, floods in South Africa and Australia, and the Ukraine-Russia war.

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PartnerRe in red with over $1.5 billion net loss in first nine months

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