PartnerRe Ltd. Exhibit 11.1 Computation of Net Income per Common and Common Equivalent Share For the Six Months Ended June 30, 2001 and 2000 (Expressed in thousands of U.S. dollars, except per share amounts) For the Six Months Ended June 30, 2001 For the Six Months Ended June 30, 2000 -------------------------------------- -------------------------------------- Income Shares Per-Share Income Shares Per-Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount ----------- ------------- ------ ----------- ------------- ------ Net income $149,100 $74,837 Less: Preferred stock dividends 10,000 10,000 -------- ------- Basic Net Income Per Share Net income available to common shareholders 139,100 50,127.4 $2.77 64,837 49,238.7 $1.32 ===== ===== Effect of Dilutive Securities: Class A and B Warrants 908.3 795.8 Stock Options 566.0 432.0 -------- -------- ------- -------- Diluted Net Income Per Share Net income available to common shareholders $139,100 51,601.7 $2.70 $64,837 50,466.5 $1.29 ======== ======== ===== ======= ======== ===== PartnerRe Ltd. Computation of Net Income per Common and Common Equivalent Share For the Three Months Ended June 30, 2001 and 2000 (Expressed in thousands of U.S. dollars, except per share amounts) For the Three Months Ended June 30, 2001 For the Three Months Ended June 30, 2000 ---------------------------------------- ---------------------------------------- Income Shares Per-Share Income Shares Per-Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount ----------- ------------- ------ ----------- ------------- ------ Net income $53,154 $51,549 Less: Preferred stock dividends 5,000 5,000 ------- ------- Basic Net Income Per Share Net income available to common shareholders 48,154 50,134.8 $0.96 46,549 49,172.8 $0.95 ===== ===== Effect of Dilutive Securities: Class A and B Warrants 915.2 858.8 Stock Options 601.3 496.2 ------- -------- ------ -------- Diluted Net Income Per Share Net income available to common shareholders $48,154 51,651.3 $0.93 $46,549 50,527.8 $0.92 ======= ======== ===== ======= ======== =====