Bermudian reinsurer Partner Re has revealed it boosted its profits by 83% in the second quarter, generating a $121.9m (£75.2m) surplus.
Partner Re posted a 47.5% hike to $837.3m (£520m) in gross written premiums (GWP) for the second quarter. The results mean the reinsurer's GWP for the first half of 2003 rests at $2.1bn (£1.3bn).
President and chief executive Patrick Thiele said: "Growth in net written premiums during the second quarter continued to be strong, representing a 49% increase over the second quarter of 2002.
"Given our strong second quarter growth on top of the 50% growth in the first three months of 2003, we now expect a higher level of growth for 2003 closer to 30%."
