PartnerRe profits down despite rise in investment income
PartnerRe came in below analysts' consensus estimates as it booked operating profits of $151.5mn for the second quarter, down from $179.3mn in the prior-year period.
The performance was equivalent to $1.92 a share, below Wall Street predictions of $2.01 a share.
The dip was despite an increase in net investment income to $174.5mn, up from $135.6mn in the second quarter of 2009 - with Q2 2010 boosted by earnings on the investment portfolio acquired with its takeout of Paris Re...
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