PartnerRe Ltd. reports a second quarter loss of $174 million as the combination of catastrophe losses, restructuring charge and a drop in investments took a toll on earnings.
The Pembroke, Bermuda—based reinsurance company PartnerRe second quarter revenue dropped 19 percent to $1.04 billion in the quarter despite net written premiums increasing 15 percent to $1.3 billion.
For the first six months of the year, net income dropped 89 percent to $60 million as revenues decreased 11 percent to $2.34 billion. Net written premiums during the period rose 13 percent to $2.95 billion.
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