Outsized cat losses push PartnerRe outlook to negative
Moody's has changed the outlook on PartnerRe to negative from stable as it affirmed the group's ratings
It attributed the move to the Bermudian reinsurer's outsized catastrophe losses.
PartnerRe carries an insurer financial strength rating of Aa3 from the ratings agency.
The reinsurer's large losses had reduced its capital cushion against potential shock losses during the upcoming Atlantic hurricane season, Moody's said.
Partner took a $1.07bn net hit from first quarter catastrophe losses, equating to 14.9 percent of total shareholders&...
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