PartnerRe Q3 Profit Declines

(RTTNews) - Reinsurance services provider PartnerRe Ltd. (PRE) Monday reported third-quarter net income available to common shareholders of $319.24 million or $5.84 per share, compared to $471.30 million or $7.53 per share in the comparable quarter last year.

Operating earnings available to common shareholders were $311.18 million or $5.70 per share, compared with $244.41 million or $3.90 per share a year ago.

On average, 19 analysts polled by Thomson Reuters expected the company to earn $2.47 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter were $1.56 billion, compared with $1.63 billion in the comparable quarter last year.

Net premiums written for the quarter were $1.28 billion, up from $1.06 billion in the prior year. Analysts on consensus estimated premiums of $1.15 billion.