PartnerRe has announced that it estimates combined catastrophe losses of approximately $475 million from its exposure to hurricanes Harvey, Irma and Maria in the third quarter of 2017. This figure is pre-tax, net of retrocession and reinstatement premiums.
The company said that its estimate of losses for these events is based on a preliminary analysis of PartnerRe’s exposures, the current assumption of total insured industry losses and preliminary information received from certain cedants to date.
PartnerRe admitted that there is material uncertainty associated with the loss estimates given the nature, magnitude and recent timing of these loss events and the limited claims information received to date. The ultimate loss therefore may differ materially from the current preliminary estimate.
The company added that additional details on PartnerRe’s 2017 financial outlook are available in the EXOR Analyst and Investor Presentation and that the company is scheduled to report its third quarter 2017 results on or around November 16, 2017.
PartnerRe, Hurricane, Catastrophe losses, North America, Bermuda