Transaction costs weigh on PartnerRe profits

PartnerRe's first quarter results were impacted by a $60mn hit
related to the Bermudian reinsurer's takeout by Italian
investment vehicle Exor.
The carrier reported operating earnings of $44.2mn for the first
three months of 2016, down from the $150.5mn it reported for the
same period last year.
Gross written premiums fell to $1.63bn for the quarter, down 7
percent from the $1.75bn PartnerRe reported in Q1 2015.
The carrier saw premium shrink in every division with the
exception of its...