PartnerRe to post loss of up to $90m in Q3

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.

PartnerRe had 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.

For the full year of 2017, PartnerRe expects to report net income of around $220 million to $300 million, assuming absence of material cat and other large losses in the fourth quarter.