PartnerRe reports Q2 and H1 results
PartnerRe Ltd has reported its financial results for Q2 and H1, including net income of $190.9m, equating to $2.31 per share on a fully diluted basis, for the second quarter of the year.
This is less than half the net income of the corresponding period in 2009, when net income of $474.3m ($8.10 per share) was earnt.
However, it is more than twice the net income of the preceding quarter, when net income stood at just $79.7m ($0.85 per share).
For the first six months of 2010 net income was recorded at $270.6m ($3.13 per share), under half the $615.8m ($10.43 per share) net income made during the first half of 2009.
Chief Executive Officer Patrick Thiele has welcomed PartnerRe’s second quarter results, describing the firm’s performance as good.
Thiele added that net written premium growth for H1 was up 35%, but that the firm had been hit by losses related to the Chilean earthquake and the Deepwater Horizon disaster.
Category: Financials, Insurance News
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