Menu

Reinsurance News

PartnerRe

PartnerRe secures Q3 net income of $70mn despite sizeable cat hit

9th November 2021

PartnerRe has reported a common shareholder net income for the third quarter of $70 million, having hit $206 million income during the same period in 2020. Concurrently, net income available to common shareholders was $317 million for the first nine months of 2021, compared to $2 million in 2020. Large catastrophe losses ... Read the full article

EXOR and Covéa sign MoU for $9bn sale of reinsurer PartnerRe

29th October 2021

EXOR, the Agnelli family owned investment and holding company and Covéa, a French mutual insurer, have entered into a Memorandum of Understanding (MoU) under which Covéa would acquire global reinsurer PartnerRe for $9 billion (€7.7 billion). We wrote last week that discussions between EXOR and Covéa had reportedly resumed over ... Read the full article

EXOR & Covéa reported in talks over PartnerRe sale again

24th October 2021

According to reports, EXOR, the Agnelli family owned investment and holding company, is back at the negotiating table with French insurance group Covéa over the possible sale of reinsurance firm PartnerRe. Discussions between EXOR and Covéa are reported to have resumed in recent weeks, with Italian business newspaper Il Sole 24 ... Read the full article

PartnerRe hits improved Q2 net income of $314mn

27th July 2021

Global reinsurer PartnerRe has reported a second quarter net income of $314 million, up from the $229 million achieved in the prior year period. For the half year 2021, a $204 million net income has been announced, after registering a loss in the same period of 2020. Operating income was $151 million ... Read the full article

PartnerRe names Shanahan as CEO of NA Life business

11th June 2021

Bermuda domiciled reinsurer PartnerRe has announced the appointment of Chris Shanahan as Chief Executive Officer (CEO) of its North American Life business. Shanahan, currently President of US Life, will succeed outgoing CEO Alan Ryder, who is set to retire at the end of August this year. Having joined PartnerRe in May 2018, ... Read the full article

PartnerRe names Gallego as Head of Capabilities Development L&H

3rd June 2021

Bermuda domiciled reinsurer PartnerRe has appointed Pascale Gallego as Head of Capabilities Development for Life & Health. Gallego has worked at PartnerRe for just under 18 years. Prior to this transition Gallego worked as Deputy CEO of Europe, Middle East, Latin America, having previously worked as Head of Life Reinsurance France, Southern ... Read the full article

PartnerRe appoints new life & health leader for Aus/NZ

1st June 2021

Bermuda domiciled reinsurer PartnerRe has appointed Garry Xue as head of Australia/New Zealand. He will be based in Hong Kong and will report to CEO life & health Asia Pacific John Mok. In his new position, Xue will oversee the further development and growth of PartnerRe’s life & health business in Australia/New ... Read the full article

PartnerRe adds Horta – Osório to Board

27th May 2021

Bermuda domiciled reinsurer PartnerRe has announced the appointment of António Horta – Osório to its Board of Directors as an Independent Director. Effective May 27th, Horta - Osório will join PartnerRe’s Board and and also become Chairman of the Investment Committee and a member of the Underwriting and Risk Committee. He is ... Read the full article

PartnerRe’s non-life combined ratio improves despite Uri losses

12th May 2021

Bermuda domiciled reinsurer PartnerRe has reported a non-life underwriting profit of $40 million and a combined ratio of 96.7% for the first quarter of 2021, despite $104 million of net losses from Winter Storm Uri. The non-life underwriting performance represents a marked improvement from the loss of $46 million and combined ... Read the full article

PartnerRe adds Swiss Re’s Fiona Mitchell as account exec

11th May 2021

Partner Re has announced the appointment of Fiona Mitchell as an account executive within its Global Clients and Brokers unit. Mitchell is an experienced senior reinsurance professional with 13 years of expertise in areas including client relationship management, negotiation, project management, treaty structuring and placement. She joins from global reinsurer Swiss Re, ... Read the full article

PartnerRe’s 2020 performance validates decision to retain company, says Exor

6th April 2021

In its most recent annual letter to shareholders, Agnelli family owned holding company Exor has said that its decision not to sell PartnerRe last year was validated by the reinsurer's earnings and balance sheet resilience. In March 2020, Exor and Covéa entered into a Memorandum of Understanding (MoU) under which Read the full article

NA reinsurers report deterioration in underwriting results: Fitch

1st April 2021

All North American reinsurers analysed by Fitch Ratings have reported deterioration in underwriting results, leading to underwriting losses. The overall segment reported a combined ratio of 105.4% in 2020, up nearly 9 percentage points from the prior year, with COVID-19 losses as the primary difference. The losses added 7.4 percentage points to ... Read the full article

PartnerRe set to raise $200mn

12th March 2021

Bermuda-based reinsurer PartnerRe has announced it will be raising $200 million of new capital through selling 8 million Series J Preferred Shares. The shares have a 4.875% fixed rate with a liquidation value of $25.00 per share. It expects to receive net proceeds from this offering of approximately $194 million, after the ... Read the full article

PartnerRe’s income dips in 2020 as COVID-19 dents underwriting result

26th February 2021

Bermuda-based reinsurer PartnerRe has reported net income of $204 million and $206 million for the fourth-quarter and full-year 2020, respectively, while the impacts of catastrophe events during the year and the ongoing pandemic pushed down its underwriting performance. Net income for the quarter improved from the net loss posted a year ... Read the full article

Exor CFO Vellano succeeds Elkann on PartnerRe’s Board of Directors

18th February 2021

Bermuda domiciled reinsurer PartnerRe has announced that Enrico Vellano, the Chief Financial Officer (CFO) of Exor, will succeed John Elkann as a representative on the PartnerRe Board of Directors, effective February 18th, 2021. Vellano's professional career began in 1992 with Arthur Andersen. Three years later, he joined SAI Assicurazioni where he ... Read the full article

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.