PartnerRe: Q1 2022 results

During Q1 2022, PartnerRe has achieved a 14.7% increase in its turnover; set at 2.832 billion USD.

Non-life premiums increased by 14.7% to reach 2.405 billion USD at the end of March 2022. The non-life combined ratio has improved by 12 points to reach 84.7%. The Bermudan reinsurer has also recorded a loss of around 50 million USD due to the Russian-Ukrainian war.

The life and health class of business (L&H) on the other hand, has posted a 1.4% growth of its turnover to 427 million USD. During the period under review, the Covid-19 related-losses have cost the group's L&H business 9 million USD.

During Q1 2022, the net loss has widened to 539 million USD against a deficit of 66 million USD twelve months earlier.

For the record, the French mutual group Covéa has signed, in December 2021, a final agreement with the financial holding company Exor for the acquisition of PartnerRe.