Reinsurance News
PartnerRe
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
PartnerRe adds Pohlchristoph to Board of Directors
5th February 2021
Bermuda-based reinsurance company PartnerRe has added Hermann Pohlchristoph to its Board of Directors. Pohlchristoph was most recently at Munich Re as a Member of the Board of Management from 2017 to 2020 and as CFO Reinsurance, Munich Re from 2006 to 2017. Prior to that, he served as Head of Financial Reporting ... Read the full article
PartnerRe launches retro & specialty reinsurance vehicle backed by Olympus
21st January 2021
Bermuda-based reinsurance company, PartnerRe Ltd., has established a new retrocession and specialty reinsurance vehicle called Laplace-C, which has secured an investment from Olympus Partners. The backing sees Stamford, Conn.-based private equity firm, Olympus Partners, look to take advantage of favourable reinsurance market conditions in both short-tail specialty and retro insurance markets. Founded ... Read the full article
PartnerRe reports solid Q3 net income despite non-life underwriting loss
19th November 2020
Bermuda-based reinsurer PartnerRe has reported net income of $206 million for the third-quarter of 2020 on the back of net unrealised investment gains of $218 million, although its non-life segment fell to an underwriting loss of $20 million in the period. Net income of $206 million in Q3 2020 represents a ... Read the full article
Insurtech Ladder expands reinsurance relationships with PartnerRe alliance
27th October 2020
Bermuda-based reinsurance company, PartnerRe, has entered into a new partnership with life insurance focused insurtech, Ladder. Ladder was established in 2015 and offers technology-driven insurance solutions designed to meet the demands of today’s consumers. By focusing on speed, ease, and affordability, the company looks to reinvent life insurance to be both ... Read the full article
PartnerRe selects Andrew Hughes as CEO of third party capital
22nd October 2020
Bermuda-based reinsurer PartnerRe has announced the appointment of Andrew Hughes as its new Chief Executive Officer of Third Party Capital. Hughes joins from Hiscox ILS having most recently served as managing principal since July 2019. Before his time at Hiscox ILS Hughes was senior counsel for diversified alternatives asset manager QIC in ... Read the full article
Cyber competition levelling off, rates on the up: PartnerRe survey
6th October 2020
As the cyber insurance market begins its slow-down in competitive expansion, market participants in a new PartnerRe survey are noting a trend towards higher pricing. A joint venture by PartnerRe and Advisen, the survey took place during the second quarter of 2020 and featured 260 cyber insurance brokers and 190 cyber ... Read the full article
PartnerRe bolsters retrocession team with three new hires
22nd September 2020
Bermuda-based reinsurer PartnerRe has appointed Nicholas Hughes as head of retrocession, as well as two additional new hires within its retrocession team. Based in PartnerRe’s Bermuda office, Hughes will continue to report to Greg Haft, CEO global catastrophe. He most recently served as head of global catastrophe at PartnerRe, having joined the company ... Read the full article
Average combined ratio of the world’s top reinsurers declined in 2019
2nd September 2020
Analysis of the Top 50 Global Reinsurance Groups reveals that, year-on-year, combined ratios trended higher for some of the largest players in the market in 2019 as underwriting profitability dipped for the cohort. When ranked by unaffiliated gross written premiums (GWP) in 2019, the top ten remains relatively unchanged year-on-year, ... Read the full article
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