PartnerRe
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Covid-19 industry losses, Insider US highlights, Charman on the record and the lowdown on Brit’s new syndicate. -
Fitch had earlier trimmed its outlook to negative after the carrier’s takeover by Covea collapsed.
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An earlier positive outlook had reflected an anticipated benefit from ownership by a larger P&C, health and life insurance organisation.
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The Exor chief reaffirms his long-term commitment to the reinsurer in an internal memo.
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The mutual’s retreat reduces the prospect of a sale of its Scor stake.
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Exor rejects Covea’s attempts to renegotiate terms in light of the Covid-19 crisis.
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The Bermuda carrier’s non-life P&C combined ratio worsened by 6.1 points to 103.8, as Covid-19 losses impacted the carrier.
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Jeffrey Ryan joins effective immediately, and will report to specialty CEO Greg Haft.
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John Elkann said his family had overcome “wars, revolutions, crises and pandemics”.
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An Exor source said the transaction “makes even more sense now”.
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A lot of water has flowed under the bridge since Covéa struck a deal with Exor to buy PartnerRe in early March.
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The executive talks over the landscape for the reinsurer as work to close the $9bn disposal by Exor continues.
