PartnerRe Ltd. (PRE), a global re-insurer, on Wednesday revealed restructuring measures for its business support operations. The company in a statement said the operations shall be organized into a single integrated worldwide support platform.
Further, the company said the reorganization would entail workforce downsizing of about 140 positions, spread across multiple PartnerRe locations worldwide.
In addition, the company said it expects to achieve pre-tax annual savings in a range between $60 million and $70 million by the end of 2014.
As a consequence PartnerRe said it would have to digest restructuring charges to a tune of $60 million and $70 million, pre-tax, in its second quarter 2013 results.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.