PartnerRe has reported a net loss of $807.0m, or $11.99 per share, for the first quarter of 2011, compared to a net income of $79.7m, or $0.85 per share, for the same quarter last year.
In the first quarter of 2011, total revenues were $1.10bn, compared to $1.47bn in the year-ago quarter.
Posted an operating loss of $735.6m for the first quarter of 2011, compared to loss of $50.4m, for the first quarter of 2010.
PartnerRe president and CEO Costas Miranthis said that during the first quarter, the company witnessed an exceptional frequency of catastrophic events in international markets.
"As PartnerRe underwrites a globally diversified portfolio, the losses in Japan, New Zealand and Australia together led to catastrophe losses significantly in excess of our quarterly expectations.
"With PartnerRe’s financial strength and stability and global franchise, we remain well-positioned to provide continued capital support to our clients and appropriate risk-adjusted returns to our shareholders," Miranthis said.