is one of thenation's leading auctioneers They might still be in the hunt for the Wild Cardbased company to compete lawfully with local competitorsThe Corporation distributed a total of 40 The Yankees have been struggling of lateSooner or later this will have to changeWaterMaureen Duffy Copyright Business Wire 2009Russia Kostin said nonperforming loans totalled about 3 Jan 29 PRNewswireFirstCall Fuel Tech Inc10 per fully diluted share in fiscal 2007Netpremiums earned were up 8 to $266 million for the quarter, compared to the sameperiod in 2007. This sub-segments technical ratio was 122.1 compared to 76.1for the fourth quarter of 2007. The fourth quarter 2008 technical ratio includesthe impact of the change in the Companys estimate of claims from Hurricane Iketotaling 16 points, as well as the impact of the Companys re-evaluation of itsexposures in the credit and surety line, in light of deteriorating global creditconditions. The technical result for the fourth quarter 2008 was a loss of $59million, compared to income of $59 million for the same period in 2007. For thefull year, net premiums written were up 12 to $1.1 billion. The full yeartechnical ratio was 95.8, including 6 points related to Hurricane Ike, comparedto 70.6 in 2007. The technical result for the full year was $44 million in 2008compared to $296 million in 2007. 
The Catastrophe business, which represented approximately 3 of total netpremiums written for the quarter, reported net premiums written of $23 millionfor the fourth quarter of 2008, compared to $8 million for the prior yearperiod. Net premiums earned were $102 million for the fourth quarter, comparedto $110 million in the same period in 2007. This sub-segments technical ratiofor the fourth quarter 2008 was 42.8, including 34 points related to the changein the Companys estimate of claims from Hurricane Ike, compared with (3.2) forthe fourth quarter 2007. The technical result for the fourth quarter 2008 was$58 million, compared to $114 million for the same period in 2007. The technical result for the full yearwas $222 million in 2008 compared to $352 million in 2007. The allocatedunderwriting result was a loss of $4 million for the quarter, compared to incomeof $11 million in the fourth quarter of 2007.
For the full year 2008, netpremiums written increased 2 to $579 million, with an allocated underwritingresult of $17 million, compared to $21 million for the full year 2007. The Companys capital markets and investment activities are reported under theheading of "Corporate and Other". Within Corporate and Other, capital marketsand investment activities contributed $130 million to pre-tax operating incomein the fourth quarter and $497 million to pre-tax operating income for the fullyear. Balance Sheet ItemsAt December 31, 2008, total assets were $16.3 billion as compared to $16.1billion at December 31, 2007. Year over year, total investments and cash were up1 to $11.7 billion. During the fourth quarterof 2008, the Companys estimate of Non-Life reserves for prior accident yearsdeveloped favorably by $68 million. sub-segment, $16 million in the Global (Non-U.S.) P&Csub-segment, $18 million in the Catastrophe sub-segment, and adverse developmentof $4 million in the Global (Non-U.S.) Specialty sub-segment.
Policy benefits for life and annuity contracts decreased by 7 yearover year to $1.4 billion at December 31, 2008. During the fourth quarter of2008, the Companys estimate of Life reserves for prior years developedadversely by $14 million, reflecting losses in the GMDB product line in Europe,compared to favorable development of $2 million in the fourth quarter of 2007. At December 31, 2008, total capital was $4.9 billion, and total shareholdersequity was $4.2 billion. Within this environment, PartnerReis in a position of strength, and the PartnerRe franchise, characterized bystability, consistency, transparency, and balance, is even more evident today." The Company uses operating earnings, diluted operating earnings per share andannualized operating return on beginning common shareholders equity to measureperformance, as these measures focus on the underlying fundamentals of itsoperations without the impact of net realized and unrealized gains/losses oninvestments, net of tax, nor the interest in earnings/losses of equityinvestments, net of tax, where the Company does not control the investeecompanies activities.
