Partner writes more to earn less in 1Q 2008
Partner Re increased net written premiums in the first quarter of 2008 compared to the same period a year earlier due to the weak US dollar and the impact of last year’s acquisition of the international renewal rights of Mutuelle Central de Reassurrance (MCR). However, net income fell 23% to $129m for the same period.
In the first quarter of 2008 Partner wrote $1.41bn earning $909m compared to $1.28bn earning $842m the same quarter a year earlier, to produce a heavier combined ratio of 92.3% compared to 84.8% in
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