Mr. Thiele pointed to the first six months of 2004, noting net income and net premiums written were all record results. During the first two quarters, net income was $265.5 million, or $4.71 per share, a 14 percent increase over the previous year. This compares to the first six months of 2003, when net income was $246.3 million, or $4.22 per share.

Also during the six-month period, net premiums written were $2.4 billion, a 14 percent increase over the same period in 2003. Positive results were also recorded for the quarter itself.

Net premiums written for the second quarter were $840.7 million, a marginal increase over the comparable period in 2003. Total revenues for the quarter increased 10 percent over the second quarter in 2003 to $1 billion, including $954.8 million of net premiums earned.

At the end of the quarter, total assets for PartnerRe Ltd. as a company were $11.8 billion, total capitalization was $3.3 billion, and total shareholders' equity was $2.7 billion.

By comparison, the company ended last year with total assets of $10.9 billion, total capitalization of $3.2 billion, and total shareholders' equity of $2.6 billion.

Mr. Thiele said for the third and fourth quarters he expects that, barring any unusually large loss events, PartnerRe will exceed their stated plan of a minimum of $6.90 in operating earnings per share and an operating return on equity of at least 17 percent.