5 October 2017Insurance

PartnerRe faces $475m nat cat loss in Q3

PartnerRe said on Oct. 5 that it expects combined catastrophe losses of approximately $475 million from its exposure to hurricanes Harvey, Irma and Maria for the third quarter of 2017.

The loss is pre-tax, net of retrocession and reinstatement premiums.

The company’s estimate of losses for these events is based on a preliminary analysis of its exposures — a current assumption of total insured industry losses and preliminary information received from certain cedants to date.

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More on this story

News
9 October 2017   PartnerRe said that it expects a pre-tax loss of $60 million to $90 million in the third quarter of 2017 driven by nat cat events, according to an Oct. 5 EXOR analyst and investor presentation.
Insurance
17 November 2017   PartnerRe made a big loss in the third quarter of 2017 because of cat losses related to the hurricanes Harvey, Irma and Maria. But the company also enjoyed continued steady growth and said it anticipates improving pricing conditions.