Welcome on PARIS RE
Financial Highlights
Ratings
|
A- (stable outlook) |
| Rating placed by S&P on 'CreditWatch with positive implications' on July 6, 2009 following the all-share offer from PartnerRe Ltd for 100% of its shares. The CreditWatch reflect the potential uplift in the ratings on PARIS RE due to the 'likelihood of it becoming a strategically important member of the PartnerRe group.' | |
|
A- (positive outlook) |
| Rating placed by AM Best 'Under Review with positive implications' on July 6, 2009 following agreement to sale majority stake to PartnerRe Ltd. | |
2008 Full Year Results
|
USD 158.0 million |
|
USD (34.2) million |
|
USD 2,171.8 million |
|
USD 2,009.6 million |
|
USD 1,403.7 million |
|
102.7% |
|
7.4% |
1Tangible shareholders’ equity is defined as IFRS shareholders’ equity of USD2,171.8 million reduced by intangible assets (primarily related to the acquisition of AXA RE's business), net of deferred tax liabilities, in the amount of USD162.2 million.
2The pro forma includes adjustments to (i) gross written premium to reflect the fact that, prior to 1 October 2007, the Company wrote business through AXA RE and retroceded such business to PARIS RE. Gross written premiums are adjusted for retrocession accounted by AXA RE in the name of PARIS RE, (ii) the Reserve Agreement impact to reallocate it to the original accounts (premium, claims and commissions, instead of claims only).
3Return on Average Tangible Equity: Net operating income to average of tangible shareholders’ equity.
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