Reinsurance News
PartnerRe
AM Best upgrades PartnerRe credit ratings
2nd August 2019
AM Best has upgraded the Financial Strength Rating (FSR) of PartnerRe and its subsidiaries from A (Excellent) to A+ (Superior) and Long-Term Issuer Credit Ratings (Long-Term ICR) to aa- from a+. AM Best also has upgraded the Long-Term ICR of PartnerRe and its existing Long-Term Issue Credit Ratings (Long-Term IR) from ... Read the full article
Strong P&C result drives improved combined ratio for PartnerRe in Q2
29th July 2019
Bermudian reinsurer PartnerRe recorded an improved non-life combined ratio of 92.8% for the second-quarter of 2019 as a strong performance in its property and casualty (P&C) segment more than offset a decline in specialty. Overall, PartnerRe's net income increased by $160 million to $285 million in the second-quarter of 2019 when ... Read the full article
PartnerRe names Chris Shanahan as President of U.S Life operations
10th July 2019
Bermudian reinsurance firm PartnerRe Ltd. has announced the appointment of Chris Shanahan as President of its U.S Life operations, effective July 1, 2019. Shanahan joined PartnerRe in May 2018 as Executive Vice President, Corporate Development, North America Life, where he led the development of strategy for PartnerRe’s U.S life reinsurance business. He ... Read the full article
PartnerRe begins wearable tech project with digital health platform dacadoo
16th May 2019
Bermudian reinsurer PartnerRe has announced the launch of its wearable technology pilot project, which it is running in partnership with dacadoo, a digital health engagement platform. The pilot will enable PartnerRe to gather real-time health and wellness data in order to provide its life and health clients with insights into using ... Read the full article
PartnerRe posts Q1 income of $497mn, boosted by P&C results
16th May 2019
Bermudian reinsurer PartnerRe has posted net income of $497 million for the first quarter of 2019, boosted by the strong performance of its property and casualty (P&C) segment, which had a combined ratio of 87.7%. The results represent an improvement on Q1 2018, when PartnerRe posted a net loss of $210 ... Read the full article
PartnerRe strikes second longevity reinsurance deal with Manulife
14th May 2019
Bermudian reinsurer PartnerRe has completed a second deal with The Manufacturers Life Insurance Company (Manulife) to reinsure longevity risk for an in-force block of Canadian individual payout annuities. The announcement follows an earlier transaction with Manulife this year, which saw PartnerRe reinsure the longevity risk of roughly 25,000 annuitants. The new ... Read the full article
Jonathan Colello joins PartnerRe as CEO, P&C Americas
15th April 2019
Bermuda-based reinsurer PartnerRe has announced the appointment of Jonathan Colello as Chief Executive Officer (CEO) for P&C Americas, and President of Partner Reinsurance Company of the U.S. Effective from July 1, 2019, he will report to Emmanuel Clarke, President and CEO of PartnerRe, and will become a member of the company’s ... Read the full article
PartnerRe strikes deal with Manulife to reinsure longevity risk of 25,000 annuitants
14th March 2019
Bermuda-based reinsurer PartnerRe has entered into a transaction with The Manufacturers Life Insurance Company (Manulife) to reinsure longevity risk from an in-force block of Canadian group payout annuities. In aggregate, the deal will see PartnerRe reinsure the longevity risk of roughly 25,000 annuitants. Manulife recently wrapped up a deal with RGA ... Read the full article
PartnerRe reorganises P&C structure & leadership as Goldie departs
13th March 2019
Bermuda-based reinsurer PartnerRe has announced a raft of changes at the top of its property and casualty reinsurance leadership team, as Charles Goldie, CEO P&C, is set to depart the firm. PartnerRe said it will reorganise the structure of its Property & Casualty (P&C) business segment, taking a regionally focused approach ... Read the full article
Catastrophes drive $132mn full-year loss for PartnerRe
22nd February 2019
The impact of catastrophe events in the third and fourth-quarter of 2018 significantly dented the 2018 underwriting result for Bermuda-based reinsurer PartnerRe, with the firm recording a net loss of $132 million for the year. The $132 million net loss compares with net income of $218 million in 2017, and is ... Read the full article
PartnerRe adds Chubb’s Jacques Bonneau to Board of Directors
20th February 2019
Bermuda-based reinsurer PartnerRe has announced the addition of Jacques Bonneau to its Board of Directors, effective February 20. Bonneau joins from Chubb where he served as Group Chief Underwriting Officer between 2014 and 2017. Previously, he served a the Chief Executive Officer of Chubb Tempest Re Group from 2005 for nine years. Prior ... Read the full article
SCOR never had discussions with PartnerRe, affirms CEO Kessler
12th February 2019
Denis Kessler, Chief Executive Officer (CEO) of French reinsurer SCOR, has reaffirmed that the company has never had discussions with Bermudian reinsurer PartnerRe regarding a potential merger scenario. Rumours about a possible combination between the two companies have circulated since SCOR rejected an €8.2 billion takeover bid from Covéa last year ... Read the full article
SCOR-PartnerRe combo could produce top-three reinsurer, say analysts
8th February 2019
A potential merger deal between French reinsurer SCOR and Bermuda-based PartnerRe would make strategic sense for both firms and could produce a combined entity that ranks in the top-three global reinsurers, according to analysts at AlphaValue. Rumours about a potential deal between the companies have been circulating since SCOR rejected an ... Read the full article
PartnerRe appoints Kelly Munger as Head of U.S Health
7th December 2018
Bermuda-based reinsurer PartnerRe has announced the appointment of Kelly Munger as Head of U.S Health, effective 17 December 2018. Munger joins with 30 years’ experience in the reinsurance industry, having specialised in the U.S Group Life, Accident and Health business for the majority of her career In her new role, Munger will ... Read the full article
PartnerRe hit by Q3 cats, but non-life segment on track year-to-date
15th November 2018
Bermuda-based reinsurer PartnerRe Ltd. has reported a net loss of $106 million for the third-quarter of 2018, driven by pre-tax catastrophe losses of $120 million. At the same time, the company's non-life segment fell to an underwriting loss in the quarter, although, for the first nine months of the year, ... Read the full article
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