PartnerRe Ltd. Operating EPS Above Estimates

According to a report by Sterne Agee, PartnerRe Ltd. PRE reported operating EPS of $3.69 ($4.03 ex FX). “This compares to our estimate of $3.40 (did not include FX impact) and consensus at $3.14,” Sterne Agee writes. “The beat versus our estimate was driven largely by higher P&C reserve releases ($0.58 impact) versus our forecast.” Sterne Agee adds that P&C accident year loss ratio ex cats was a bit better than expected, offset partly by a lower life segment result, saying, “NII was essentially in line with our forecast.” PartnerRe Ltd. currently trades at $79.99.