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PartnerRe Ltd. News

PartnerRe Ltd. Establishes Representative Office in Sao Paulo, Brazil

PEMBROKE, Bermuda, April 17 PRNewswire-FirstCall — PartnerRe Ltd. (NYSE: PRE) today announced that it has established a representative office in Sao Paulo, and has applied for a license to become an admitted reinsurer in Brazil.

The move follows the opening of the Brazilian reinsurance market, and underlines PartnerRe's commitment to the growing Latin American market, where PartnerRe has actively participated for more than ten years.

PartnerRe President & CEO Patrick Thiele said, "This is an important strategic and operational development for PartnerRe. Having an office in Sao Paulo means we can better serve our Brazil-based clients by providing additional capacity and our expertise directly to the local market. It is also the next step in a thoughtful, long-term strategy of expansion into the emerging markets for PartnerRe."

Alvaro Madronero and David Preti have been appointed Chief Commercial Officer and Chief Operational Officer respectively to manage the new Brazilian office.

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. The Company, through its wholly owned subsidiaries, also offers alternative risk products that include weather and credit protection to financial, industrial and service companies. Risks reinsured include property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering, energy, marine, specialty property, specialty casualty, multiline and other lines, life/annuity and health, and alternative risk products. For the year ended December 31, 2007, total revenues were $4.2 billion, total assets were $16.0 billion, and at December 31, 2007 total capital was $5.2 billion and total shareholders' equity was $4.3 billion.

PartnerRe on the Internet: www.partnerre.com Contacts: PartnerRe Ltd. Sard Verbinnen & Co. (441) 292-0888 (212) 687-8080 Investor Contact: Robin Sidders Drew Brown/Jane Simmons Media Contact: Celia Powell

SOURCE PartnerRe Ltd.

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