PartnerRe reports quarterly and six monthly profits
PartnerRe Ltd has reported its financial results for the first six months of 2009 and for the second quarter of the year.
Net income for Q2 was recorded as $474.3m, equivalent to $8.10 per fully diluted share.
This is a large turn-around from Q2 last year, which saw a net loss of $26m incurred, equating to $0.64 per share.
However, operating earnings fell marginally from last year to this, from $183.8m to $179.3m.
For the first half of the year net income stood at $615.8m, or $10.43 per share, almost sixfold the first half of last year ($103.0m).
President and chief executive officer Patrick Thiele commented on the results, describing both the quarterly and half-yearly performance as excellent.
The results follow a Q1 performance which included rising profits, despite premiums falling, from $129m to $142m.
Category: Companies News, Financials, Insurance News
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