PartnerRe to Publish ‘Loss Development Triangles’- Conference Call Details
Bermuda’s PartnerRe Ltd. will publish the Company’s Loss Development Triangles shortly after 4 p.m. EDT today, September 20, 2006. “A copy of these documents will be available on the Company’s Website at: http://www.partnerre.com in the Investor Information section on the Financial Reports page under Quarterly and Other Reports,” said the bulletin.
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PartnerRe’s Management will conduct a conference call to discuss this supplemental information on Thursday, September 21, 2006, at 10 a.m. EDT. The conference call can be accessed by dialing 719-457-2662 in the United States or, from outside the United States, by dialing 800-946-0786. Investors and analysts are encouraged to call in 15 minutes prior to the commencement of the call. The conference call will also be available via live audio webcast on the Website. The replay can be accessed by dialing 719-457-0820 in the United States or, outside of the United States dialing 888-203-1112; passcode 4569532.
Partner Re said: “The Company’s Loss Development Triangles will be presented by underwriting year and accident year and gross paid and gross reported loss development formats. The information will be provided for 15 reserving classes of business which fall within the Company’s three Non-Life reporting segments. The Company is also releasing its estimate of discounted net loss reserves.
“The release of this information follows Management’s ongoing commitment to providing enhanced transparency on PartnerRe’s operations and is in line with the discussion the Company initiated two years ago on risk management.”
President & CEO Patrick Thiele commented: “PartnerRe is committed to enhancing the information we provide to our stakeholders. This additional data will, we believe, assist our clients in understanding the composition of our loss reserves, a key component of our balance sheet strength, and the risks and benefits inherent in doing business with PartnerRe. By providing additional data on the duration of our loss reserves, we are giving our clients, and indeed our shareholders, an opportunity to form their own opinion on the integrity of our balance sheet and the strength of our promise.”