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<a href="http://www.accessmylibrary.com/coms2/summary_0286-13221311_ITM" title="Facts and information about News - PartnerRe takes $900m 2005 catastrophe losses in its stride.">News - PartnerRe takes $900m 2005 catastrophe losses in its stride.</a>
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News - PartnerRe takes $900m 2005 catastrophe losses in its stride.
(From Reinsurance)
Bermudian (re)insurer PartnerRe has reported an operating loss of $242.6m for the year ended 31 December 2005, including an estimated $900m in natural-disaster losses and $511m for Hurricane Katrina alone.
The full-year figure compares with an operating profit of $492.4m in 2004. The operating loss for the fourth quarter of 2005 was $79.3m, against operating earnings of $120.8m for the same period in 2004.
PartnerRe president and chief executive Patrick Thiele said, "2005 was an extraordinary year on many levels. It was the worst year in history for natural disasters, with more than $80bn in insured damage for the industry and approximately ...
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