PartnerRe Reports Q2 & Half Year 2022 Results
PartnerRe Ltd. reported net loss attributable to common shareholder of $606 million for the second quarter of 2022, compared to income of $314 million for the same period of 2021.
A statement from the company said, “Net loss attributable to common shareholder was $1,146 million for the half year 2022, compared to income of $248 million for the same period of 2021.
“Operating income was $328 million for the second quarter of 2022, compared to operating income of $151 million for the same period of 2021. Operating income for the half year 2022 was $502 million compared to operating income of $192 million for the same period of 2021. Operating income for the second quarter and the half year 2022 improved over the same periods of 2021 as a result of improvements in the underwriting results for all three segments.”
PartnerRe President and Chief Executive Officer Jacques Bonneau commented, “With the completion of Covéa’s acquisition of PartnerRe in early July, we are excited to join a group with such an established history, strong brand and robust financial strength.
“As our financial results for the half year demonstrate, with an annualized operating return on equity of 15.0%, an improvement in our non-life combined ratio of 10.5 points year-over-year, and our growing life operations and third party capital management, we believe we can make an immediate contribution to the Covéa group.
“I am thankful for our relationship with Exor, which we will continue through their meaningful contribution to our third-party capital platform. We look forward to our future with Covéa and to further increasing the value that we provide to all of our clients, distribution partners, capital partners and other stakeholders.”
