PartnerRe returns to the black in H1
by Richard Kilner
Story link: PartnerRe returns to the black in H1
PartnerRe Ltd. has reported net income of $176.1m, equating to $2.50 per share, in the second quarter of 2012.
This is a significant increase on the $124.2m (1.69 per share) the firm made in the corresponding period in the previous year, but is half the $360.1m (or $5.24 per share) it made in the first quarter of 2012.
In the first six months of the year PartnerRe made net income of $536.3m, equating to $7.76 per share.
This is more than a billion dollars better than the biannual net loss of $682.8m ($10.32 per share) the firm incurred in the first half of 2011.
President and Chief Executive Officer Costas Miranthis described the second quarter as solid, driven by strong underwriting results.