Outcomes season continues with the flip of PartnerRe, whose earnings report is a combined bag.
In accordance with the reinsurer, right here’s the way it fared within the quarter and yr ended December 31, 2022:
|
Metric |
This autumn 2022 |
This autumn 2021 |
FY 2022 |
FY 2021 |
|---|---|---|---|---|
|
Non-life underwriting revenue |
$368 million |
$313 million |
$749 million |
$507 million |
|
Life & well being allotted underwriting revenue |
$29 million |
$32 million |
$121 million |
$97 million |
|
Web funding return |
$306 million |
$156 million |
$(1.56 billion) |
$541 million |
|
Working earnings |
$370 million |
$300 million |
$809 million |
$545 million |
|
Web earnings/(loss) attributable to widespread shareholders |
$433 million |
$362 million |
$(1.1 billion) |
$679 million |
PartnerRe attributed its 2022 loss to web unrealized losses on mounted maturities and short-term investments price $1.81 billion.
Highlighting the positives, nonetheless, PartnerRe president and chief government Jacques Bonneau mentioned in a launch: “Our working efficiency for the fourth quarter of 2022 was wonderful, with working earnings of $370 million. Our annual working efficiency additionally maintained its optimistic momentum, and working earnings ROE (return on fairness) was 12.0% for the yr.
“Along with strong underwriting outcomes, throughout 2022 we grew web funding earnings by virtually 6% as we continued to reinvest accessible money at charges which are meaningfully greater than our current e book yield.”
For 2022, dividends declared and paid to widespread shareholders of PartnerRe amounted to $178 million. There have been no dividends in the course of the fourth quarter.
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