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Report: PartnerRe to shutter Dubai operations, Aspen to pull back in region

PartnerRe Ltd. will close its operation in Dubai in early 2019, Insurance Insider reported.

The Bermuda-based insurer will retain its book of business written in Dubai and is expected to move the management of risks to its Zurich and Paris offices.

The report also stated that Aspen Re in November stopped underwriting facultative reinsurance business in the region. An Aspen spokesman reportedly said the decision will not affect any other classes of business written out of Aspen Re's Dubai hub or property FAC business written on any of the company's other platforms.