NU Online News Service, Aug. 2, 1:18 p.m. EDT
PartnerRe says 2011 second-quarter net income dropped 35 percent due to the impact of catastrophe losses on its business.
The Pembroke, Bermuda-based reinsurer reports that second-quarter net income dropped $67 million to $124 million compared to the same period a year ago. Total revenues increased more than 1 percent, or $20 million, to $1.35 billion. Net premiums written were down 5 percent, or $56 million, to $1.06 billion.
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