PEMBROKE, Bermuda (AP) -- Global reinsurance firm PartnerRe Ltd. said Tuesday it expects to take a $120 million charge in its fourth-quarter results from the flooding in Thailand in October and November.
The estimate is in line with the company's previous announcement that its losses would be in the range of 0.5 percent to 1 percent of total insured industry losses, it said.
PartnerRe said its estimate is consistent with an industry loss from the flooding of more than $15 billion.
Combined with the Tohoku earthquake in Japan and other losses, the company said it now expects to report a fourth-quarter after-tax operating loss of $130 million to $150 million, or between $1.95 per share and $2.25 per share.
PartnerRe reports fourth-quarter earnings Feb. 6.
Shares fell 58 cents to $64.97 in Tuesday trading.
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