The Company was incorporated under the laws of Bermuda on 24 August 1993. The Common Shares achieved a primary listing on the New York Stock Exchange (NYSE) on 7 November 1996. The BSX listing is a secondary listing and is effective from 25th April 2002. Today, PartnerRe provides multi-line reinsurance to insurance companies on a worldwide basis. Risks reinsured include property, catastrophe, agriculture, automobile, casualty, marine, aviation/space, credit/surety, and life. In 2001 total revenues were $1.9 billion. As of December 31, 2001 total assets were $7.2 billion and total capital was $2.4 billion.
The listing of the Common Shares of Partner Re Ltd. is sponsored by LOM Capital Limited. "In light of PartnerRe's world-class commercial success and numerous contributions to Bermuda, we are particularly pleased to act as Sponsor for their BSX listing," said David Surmon of LOM.
Patrick Thiele, President and CEO of PartnerRe said, "We have been an active member of Bermuda's financial community for almost 10 years. By taking this important step of listing on the Bermuda Stock Exchange, PartnerRe is demonstrating it's continued commitment to Bermuda's status as a pre-eminent international business center.
In addition, this secondary listing provides our shareholders with the flexibility of extended trading hours outside the NYSE and, in the future, Bermudian-based shareholders can benefit from the improved settlement procedures of the BSD (Bermuda Securities Depository) for transactions in PartnerRe shares.
We are very pleased to be the newest listed issuer on our local exchange."
"The BSX welcomes PartnerRe Ltd. to listing", said Mr. James S. McKirdy, Listings and Compliance Manager of the BSX. "PartnerRe Ltd. joins the growing list of Bermuda domiciled insurance companies to list on the Exchange. As a secondary listing PartnerRe Ltd. was able to take advantage of the reduced listing fees offered to issuers with a primary listing on a BSX Recognized Exchange introduced during the BSX's observance of its Thirtieth Anniversary."