BERMUDA'S PartnerRe Ltd. says it recorded a 2011 fourth-quarter net loss of $17.6 million and a net loss for the year of $520.3 million, down from a profit of $852.6 million in 2010.

Operating loss for 2011 was $641.6 million, compared to a profit of $491.8 million for full-year 2010.

Catastrophes headlined 2011, and PartnerRe President and CEO Costas Miranthis says although PartnerRe was affected, it remains well-positioned to take advantage of opportunities as the reinsurance market improves.  

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