Reinsurance News

PartnerRe estimates $475m of net hurricane losses

5th October 2017 - Author: Steve Evans

Reinsurance firm PartnerRe has estimated a combined net impact from its exposure to hurricanes Harvey, Irma and Maria of $475 million.

PartnerRe logoThe loss expectation will be announced today at the 2017 EXOR Investor Day.

The estimated impact from third-quarter hurricanes is pre-tax, net of retrocessional reinsurance and any reinstatement premiums, the company said.

PartnerRe said that the estimate is made following a preliminary analysis of its exposures, the latest insured industry loss estimates and preliminary information received from specific cedants.

The reinsurer noted “material uncertainty” in the loss estimates,  “given the nature, magnitude and recency of these loss events and the limited claims information received to date.”

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As a result, it said that the ultimate loss could differ materially from today’s estimate.

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