PartnerRe Ltd. Reports Second Quarter Results

PartnerRe Ltd. PRE today reported net income of $190.9 million, or $2.31 per share on a fully diluted basis for the second quarter of 2010. This net income includes net after-tax realized and unrealized gains on investments of $29.7 million, or $0.38 per share. Net income for the second quarter of 2009 was $474.3 million, or $8.10 per share, including net after-tax realized gains on investments of $279.6 million, or $4.86 per share. Operating earnings for the second quarter of 2010 were $151.5 million, or $1.92 per share on a fully diluted basis. This compares to operating earnings of $179.3 million, or $3.12 per share, for the second quarter of 2009. Net income for the first six months of 2010 was $270.6 million, or $3.13 per share. This net income includes net after-tax realized and unrealized gains on investments of $140.3 million, or $1.74 per share. Net income for the first six months of 2009 was $615.8 million, or $10.43 per share.