PartnerRe Third Quarter Net Income: $240.3M
Bermuda-based PartnerRe Ltd. reported a net income of $240.3 million for the third quarter of 2016. This includes net after-tax realized and unrealized gains on investments of $56.4 million.
The net loss for the third quarter of 2015 was $243.3 million, including net after-tax realized and unrealized losses on investments of $121.8 million and the amalgamation termination fee and reimbursement of expenses paid to AXIS Capital of $315.0 million.
The Company reported operating earnings of $185.0 million for the third quarter of 2016, which compares to operating earnings of $211.6 million for the third quarter of 2015.
Net income for the first nine months of 2016 was $578.5 million. This includes net after-tax realized and unrealized gains on investments of $366.6 million.
The net loss for the first nine months of 2015 was $114.7 million, including net after-tax realized and unrealized losses on investments of $238.7 million and the amalgamation termination fee and reimbursement of expenses paid to Axis Capital of $315.0 million.
Operating earnings for the first nine months of 2016 were $163.6 million, which compares to operating earnings of $474.6 million for the first nine months of 2015.
