Reinsurance services provider PartnerRe Ltd. (PRE) Monday reported first-quarter net income available to common shareholders of $210.5 million or $3.53 per share, compared to $344.7 million or $5.24 per share last year.
Results for the latest first quarter includes net after-tax realized and unrealized gains on investments of $12.3 million, or $0.20 per share, while results in the prior year quarter included net after-tax realized and unrealized gains on investments of $159.2 million, or $2.42 per share.
Operating earnings available to common shareholders were $202.1 million or $3.39 per share, compared with $181.7 million or $2.76 per share a year ago.
On average, 18 analysts polled by Thomson Reuters expected the company to report a loss of $2.36 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter were $1.30 billion, compared with $1.33 billion in the comparable quarter last year.
Net premiums written for the quarter were $1.64 billion, up from $1.47 billion in the prior year. Analysts on consensus estimated premiums of $1.54 billion.
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