PartnerRe ready for ‘attractive returns’

After announcing a profit of $210.5 million for the first quarter of 2013, PartnerRe said it was positioned for more of the same. 

Costas Miranthis, PartnerRe president and CEO, said in a press release: “We began 2013 with a very good first quarter result, driven by strong underwriting performance, generating a Non-life combined ratio of 81.7 per cent, and growth in our underlying portfolio. This, combined with modest gains in our investment portfolio, resulted in book value growth of more than two per cent for the quarter.”

“Reinsurance markets are evolving rapidly and present challenges. While underlying primary pricing continues to improve, reinsurance competition has intensified in recent months. 

“As always our underwriting decisions over the coming months will be guided by careful evaluation of risks and returns. 

“The recently announced organizational changes position us to effectively and efficiently focus on markets that continue to provide opportunities to generate attractive returns.”