PartnerRe Q4 Profit Soars

(RTTNews) - Reinsurance services provider PartnerRe Ltd. (PRE) Monday reported fourth-quarter net income available to common shareholders of $257.6 million or $4.76 per share, compared to $96.1 million or $1.56 per share in the comparable quarter last year.

Operating earnings available to common shareholders were $157.4 million or $2.91 per share, compared with $95.7 million or $1.55 per share a year ago.

On average, 19 analysts polled by Thomson Reuters expected the company to earn $2.77 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter were $1.64 billion, compared with $1.31 billion in the comparable quarter last year.

Net premiums written for the quarter were $1.19 billion, up from $920.29 million in the prior year. Analysts on consensus estimated premiums of $1.04 billion.