What’s New: In Brief (February 11, 2010)

Partner Re has reported a net income of $1.5 billion in 2009, marking a significant increase from the $46.6 million profit it reported in 2008.
Net income for 2009 Q4 was $354.4 million, an increase from the $95.3 million reported in 2008 Q4.
The company reported net premiums written of $904.4 million and $3.9 billion for 2009 Q4 and 2009 respectively. This also marks an improvement from the $752.4 million for 2008 Q4 and $3.9 billion in 2008.
Net premiums earned for 2009 Q4 were $1.3 billion, an increase from the $984.2 million reported in 2008 Q4. Year-over-year, this figure also increased: there were $4.1-billion net premiums earned in 2009 compared to $3.9 billion in 2008.
Non-life combined ratio was 80.3% for 2009 Q4, marking a decrease from the102.2% for 2008 Q4. The combined ratio for the year 2009 also showed improvement, decreasing from 94.1% in 2008 to 81.8%.

Marsh & McLennan Companies, Inc. (MMC) has reported a net income for 2009 of $242 million, a significant improvement from the net loss of $73 million reported in 2008.
The firm reported a net income of $38 million for 2009 Q4, marking a decrease from a net income of $80 million reported in 2008 Q4.
The decline in net income is due to the settlement in 2009 Q4 of the securities and ERISA class action lawsuits filed in 2004, the company said.
“I am very pleased with our company’s performance in 2009 and the excellent progress we made executing our goals for the year,” Brian Duperreault, MMC president and CEO, said in a release. “MMC is much stronger today than it was a year ago. Our marked improvement in adjusted operating income in 2009 was driven by very strong performance in risk and insurance services, with substantial margin improvement.”