The board of directors of PartnerRe has authorised the repurchase of six million of the company’s common shares.The announcement was made on Friday and takes immediate effect.The latest repurchase authorisation supersedes the reinsurance company’s previous buy-back authorisations.PartnerRe recorded net income of $1.13 billion for 2012, or $16.87 per share, offsetting the firm’s 2011 net loss of $520.3 million.PartnerRe’s total revenues for last year were $5.6 billion.