Reinsurance News


RGA’s Chris Noyes joins PartnerRe’s US Life & Health team

17th May 2023

Chris Noyes has joined PartnerRe as a Client Partner on the firm’s US Life & Health team. He joins PartnerRe from Reinsurance Group of America (RGA) where he most recently served as Vice President of Business Development, U.S. Mortality Markets. In a statement, PartnerRe CEO, North America Life, Chris Shanahan said: “I am ... Read the full article

PartnerRe & Euclid announce security industry carrier partnership

16th February 2023

PartnerRe, Euclid Program Managers and Euclid Security have announced a carrier partnership for a Security Industry Liability Insurance Program. Moving forward, Euclid Security, a program administrator offering specialised liability coverages for security industry risks, will be writing on behalf of PartnerRe’s newly launched Insurance Programs unit. Under its new facility, Euclid Security ... Read the full article

PartnerRe to target niche areas in direct lines expansion: CEO Bonneau

23rd December 2022

PartnerRe CEO, Jacques Bonneau, has suggested that while the firm remains a reinsurance-focused operation, its recently announced expanded direct insurance presence will provide opportunities to source and write risks that may not be available to it as a reinsurer and will complement its overall portfolio. As part of a strategic review ... Read the full article

PartnerRe & Zurich back £1bn longevity swap for Fortune 500 pension

21st November 2022

An unnamed UK pension scheme sponsored by a Fortune 500 company has completed a £1 billion longevity swap with PartnerRe acting as reinsurer and Zurich acting as the intermediary to the swap. According to the announcement, the transaction - which covers both pensioner and non-pensioner members - insures the majority of ... Read the full article

PartnerRe makes two appointments to its board

14th November 2022

PartnerRe has appointed Reuben Jeffery and Sylvestre Frezal to its board of directors. Jeffery is the former president and chief executive officer of Rockefeller & Co. He was also employeed at Goldman, Sachs & Co., where he was managing director and head of the European financial institutions group and of the ... Read the full article

PartnerRe falls to loss for Q3 & 9M 2022 on catastrophes, unrealised losses on investments

10th November 2022

Bermuda-based PartnerRe has reported a net loss of $387 million for the third quarter of 2022 as the firm records a non-life underwriting loss of $100 million on the back of losses related to Hurricane Ian of $300 million, and unrealised losses on fixed maturities and short term investments of ... Read the full article

PartnerRe names Abina Kealy CFO as Nick Burnet departs

7th September 2022

Bermuda-based PartnerRe has announced the appointment of Abina Kealy as its new Chief Financial Officer (CFO) and member of the firm's Executive Leadership team, effective September 6th, 2022. Previously, Kealy served as the reinsurer's Chief Accounting Officer. She takes over as CFO from Nick Burnet, who is leaving the company to ... Read the full article

PartnerRe names Nicolas Georgy P&C EMEA, Chief Underwriting Officer

1st September 2022

International reinsurer, PartnerRe, has appointed Nicolas Georgy as Chief Underwriting Officer - Property, in the P&C Europe, the Middle East and Africa (EMEA) department. Georgy started his reinsurance career at PartnerRe, he joined the company for the first time in 2001 as a junior underwriter in the Catastrophe department. In 2006 ... Read the full article

PartnerRe falls to net loss as investment result offsets improved underwriting in 1H22

4th August 2022

Bermuda-based reinsurer PartnerRe has reported a loss of more than $1.1 billion for the first half of 2022, driven by unrealised losses on fixed maturities as a result of rising interest rates, while the firm's underwriting performance improved year-on-year. The reinsurer's H1 net loss includes a loss of $606 million in ... Read the full article

Fitch upgrades PartnerRe following acquisition by Covea

21st July 2022

Fitch Ratings has upgraded PartnerRe’s Issuer Default Rating (IDR) to 'A' from 'A-' and senior unsecured debt ratings to 'A-' from 'BBB+'. Fitch has also upgraded the Insurer Financial Strength (IFS) rating of Partner Reinsurance Company, the company's principal reinsurance operating subsidiary, to 'AA-' (Very Strong) from 'A+' (Strong), ... Read the full article

PartnerRe acquisition could improve Covéa business profile: AM Best

18th July 2022

Analysts at AM Best have reported that the recent acquisition of PartnerRe could lead to an improvement in Covéa’s business profile by significantly diversifying its offerings on a product and geographic basis. The rating agency stated that its financial strength ratings for Covéa remain unchanged following the announcement last week ... Read the full article

Covéa CEO Thierry Derez named new Chairman of PartnerRe

14th July 2022

Following the acquisition of Bermuda-based PartnerRe by French mutual insurer Covéa, which completed yesterday, the reinsurer has announced a number of changes to its Board of Directors. This includes the appointment of Thierry Derez, Chief Executive Officer (CEO) of Covéa, as Chairman of the Board, replacing Brian Dowd, who will ... Read the full article

Covéa completes deal to purchase PartnerRe from EXOR

13th July 2022

French mutual insurer Covéa has completed the acquisition of global reinsurer PartnerRe from EXOR, the Agnelli family owned investment and holding company, for a total cash consideration of $9.3 billion (€8.6bn). After signing a Memorandum of Understanding (MoU) in October 2021, after an initial deal was terminated in May ... Read the full article

PartnerRe hires Ruparelia as Chief Actuarial and Risk Officer

17th June 2022

Bermuda-based PartnerRe has appointed Sima Ruparelia as Chief Actuarial and Risk Officer. She will join the reinsurer on June 27, 2022. Within this role, Ruparelia will be based in London, and will report to PartnerRe’s President and Chief Executive Officer (CEO) Jacques Bonneau, as a member of the Company’s Executive Leadership Team. As ... Read the full article

Appetite for underwriting property cat reinsurance business tightening

1st June 2022

Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article