PartnerRe reports strong third quarter results

PartnerRe Ltd. has reported its financial results for the third quarter of 2012, during which the firm made net income of $486.7m, or $7.53 per share.

This is about two and a half times as much as the firm made in the corresponding period last year ($180.1m, equating to $2.43 per share) or during the immediately preceding quarter ($176.1m, equating to $2.50 per share).

In the first nine months of 2012 PartnerRe made a net income of $1,023m, or $15.19 per share.

This is double the $502.6 million, or $7.88 per share, the firm achieved during the first three quarters of 2011.

President and Chief Executive Officer Costas Miranthis described the firm’s third quarter results as excellent, and attributed the improved performance to a strong underwriting result and below average large loss experience.

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Category: Financials, Insurance News