PartnerRe may be up for sale, according to a report that cites a London banking source.

The Bermudian-based reinsurer was bought four years ago by Exor, the Italian investment firm controlled by the Agnelli family.

Exor paid around $6.9 billion to buy the company, which has offices on Pitts Bay Road.

In a report by The Insurance Insider, French company Covea is said to be a possible buyer of the business, according to an unnamed banking source.

In response to an enquiry about the article, PartnerRe told The Royal Gazette it does not comment on speculation in the press.

Exor has also been contacted about the report, and we are awaiting a response.