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The Bermudian reported net pre-tax cat losses of $49mn, with $32mn attributable to the California wildfires. -
PartnerRe’s non-life division reported a Q4 underwriting result of $21mn, recovering from a loss of $188mn in the prior-year period.
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The group reported “robust” growth in property reinsurance premium.
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The group reported a 19.1% return on opening adjusted tangible book.
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Cyber and property experienced the largest price reductions.
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The broker's share price dipped 11% in morning trading after its Q1 earnings missed expectations.
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The commercial risk and reinsurance units delivered mid-single-digit growth.
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The California wildfires were the only “relevant event” for the period, the carrier said.
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The firm said supply and demand was becoming more in balance than at 1 January renewals.
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Lucy Clarke said the broking business was resilient in the face of macro challenges.
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Organic growth was flat on the prior year and in line with Q4 2024 figures.
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The property segment experienced a 113.5-point impact from the California wildfires.
