PartnerRe Ltd., a reinsurance company based in Pembroke, Bermuda, has announced its financial results for the first half of 2025. The company reported gross premiums written of $5.2 billion, with $4.0 billion from non-life and $1.2 billion from life and health segments.
Net income attributable to PartnerRe Ltd. was $493 million, resulting in an annualized return on equity of 10.5%. Operating income for the period stood at $6 million, with an annualized operating income return on equity of 0.1%.
The non-life business recorded an underwriting loss of $333 million and a combined ratio of 112.7%. This included losses of $293 million from the property and casualty segment and $40 million from the specialty segment, mainly due to California wildfires and reserve strengthening on prior years.
The life and health segment contributed a net allocated underwriting result of $100 million during the same period.
Net investment income reached $424 million, reflecting a 15.8% increase compared to the first half of 2024 as higher reinvestment yields and growth in assets supported stronger returns.
Chief Executive Officer Philippe Meyenhofer stated, “Despite recent headwinds in our Non-life business, primarily driven by catastrophe losses and reserve adjustments in U.S. Casualty, we remain firmly committed to our long-term strategy. Our Life and Health segment continues to perform strongly, and our investment portfolio is delivering solid returns. These results reaffirm the strength of our diversified business model. The Company’s solvency position is strong and total capital has continued to grow in the first half of 2025 to $11.6 billion.”