PartnerRe Ltd. Reports Full Year 2025 Results

PartnerRe Ltd. ("the Company") today reported Full Year 2025 Results

Highlights

• Gross premiums written of $9.16 billion
  • Non-life gross written premiums of $6.70 billion
  • Life and Health gross written premiums of $2.47 billion
• Net income attributable to PartnerRe Ltd. of $2.10 billion and return on equity of 20.8%
• Operating income of $972 million and operating income return on equity of 9.7%
• Non-life underwriting profit of $364 million and Non-life combined ratio of 93.4%
• Life and Health net allocated underwriting profit of $184 million
• Net investment return of $2,105 million included unrealized gains on fixed maturities and short-term investments of $974 million. Net investment income increased by $107 million to $880 million

PartnerRe delivered a net income of $2.10 billion and operating income of $972 million in 2025.

The Non-life business produced an underwriting profit of $364 million, despite the impact of the California Wildfires and U.S. casualty reserve strengthening on prior years. The P&C segment contributed $190 million at a combined ratio of 94.8% and the Specialty segment contributed $174 million at a combined ratio of 90.7%. Our Non-life business continues to demonstrate strong underlying performance, with a current accident year combined ratio excluding catastrophe losses of 86.3% for 2025.

The Life and Health business produced a net allocated underwriting profit of $184 million. Strong technical performance and net favorable experience supported the segment’s consistent contribution to overall earnings.

Our investment portfolio generated strong results of $2,105 million. Reinvestment yields remained above the average book yield, and together with continued growth in the asset base, drove higher net investment income in 2025.

PartnerRe Chief Executive Officer Philippe Meyenhofer commented,

"PartnerRe delivered solid results in 2025, with a net income of over $2 billion, and an operating income of $972 million. Our Non-life business generated an underwriting profit of $364 million despite notable catastrophe activity and reserve strengthening in U.S. casualty lines, demonstrating the resilience and quality of our portfolio. Life and Health continued to contribute meaningful and diversified earnings with a net allocated underwriting profit of $184 million. Strong investment income and unrealized gains further enhanced our overall performance and strengthened our long-term earnings power. With disciplined execution and a continued focus on underwriting excellence, we enter 2026 well positioned to continue supporting our clients and brokers and delivering value for our shareholder." Please click here to access the full release.

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