PartnerRe pre-announces $63mn crop losses
PartnerRe expects to take a net post-tax charge of $63mn in its third quarter results to cover drought claims within its North American agriculture portfolio, the company announced.
The reinsurer believes its premiums for the agricultural portfolio will come in at $200mn for the full year, against losses of $255mn.
However, PartnerRe noted that the estimates will not be certain until harvest and crop yields are finalised, while the commodity prices that determine payouts may vary.
On a pre-tax basis...
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