Initial second quarter Bermuda reinsurer results show strong earnings with less-than-stellar premium growth, according to investment bank analysts.

Everest Re reported net income rose 13.5 percent in the quarter to $220.4 million, compared to $194 million in the 2005 period.

Partner Re posted net income of $77.5 million in the quarter, compared to $159 million in the year-ago period. The 52 percent decline could be attributed in part to net realized after-tax investment losses of $47 million, compared to gains of $37 million in the prior year period.

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