PartnerRe has reported net income of $193.2m (2005: $111.4m) for the first quarter of 2006.
Operating earnings for the first quarter of 2006 were $133.7m compared to $67.6m for the first quarter of 2005.
Net premiums written for the first quarter 2006 were $1.3bn, down 5% when compared with the first quarter of 2005.
Total revenues for the quarter were $995.6m, down from the $1.0bn in revenues in the first quarter of 2005.
PartnerRe president & CEO Patrick Thiele said: "Global reinsurance markets continue to present a diverse picture. Competition remains significant in markets and lines not affected by 2005 storms and we will deploy our capital cautiously within those markets.
"Conversely, US property pricing continued to accelerate in the April 1 renewals and we expect to respond to that trend with increased capacity."
