PartnerRe
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The reinsurer raised a small third-party fund to support its Lloyd’s book in 2018. -
The ratings agency cites demonstrably effective risk management and “the strongest” balance sheet as it lifts both financial strength and issuer credit ratings at the reinsurer.
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The reinsurer’s non-life combined ratio deteriorated to 97.7 percent despite an improvement in P&C results.
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The two firms first partnered at the start of this year.
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PartnerRe has hired Axis Re’s Jonathan Colello as CEO of its P&C Americas business and president of its US operation.
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This is PartnerRe's first longevity reinsurance transaction in Canada.
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The reorganisation will see the departure of current chief executive of the division Charles Goldie.
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Losses from Hurricane Michael and the California wildfires brought the reinsurer’s non-life combined ratio up to 108.7 percent.
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Newer vehicles found it harder to get going as sidecar sponsors struggled to hit their fundraising targets in the January renewals.
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The vehicle brings Bermuda-based PartnerRe’s managed third-party capital to $262mn as of January 2019.
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Reinsurance buyer preferences may influence the direction of M&A, suggested panellists at the Baden-Baden Guy Carpenter symposium.
