PartnerRe reports higher operating profit despite $297mn of Q3 large cat losses

PartnerRe trebled operating profits to $54mn for the third quarter as it reported a lower combined ratio of 99.8 percent (Q3 2020: 101.6 percent) in its non-life operations despite large cat losses in the period of $297mn, including $188mn from Hurricane Ida and $60mn from the European floods.