PartnerRe Says China Explosion Losses as Much as $70 Million

PartnerRe Ltd., the reinsurer that agreed to be purchased by Italy’s Exor SpA, said losses from the explosion in Tianjin, China in August were $50 million to $70 million before tax.

The losses will be recorded in third-quarter results, the Bermuda-based company said Tuesday in a statement distributed by Business Wire.

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