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PartnerRe Announces Plans to Open an Office in Chile

PEMBROKE, BERMUDA, June 5, 2002 - PartnerRe (NYSE: PRE) today announced plans to strengthen its market position in Latin America by opening an office in Santiago, Chile.

The new office will manage the business opportunities in southern Latin America (including Chile, Argentina, Peru, Bolivia, Paraguay, and Uruguay) and will be run by Hernan Zilleruelo.

An accomplished reinsurance professional, Mr. Zilleruelo has more than 20 years experience in insurance and reinsurance in the South American market. Prior to joining PartnerRe, Mr. Zilleruelo was technical director for Latin American business for American Re. Mr. Zilleruelo will be assisted by Emilio Nualart, also formerly of American Re, who has worked in the reinsurance business for four years.

President and CEO of PartnerRe, Mr. Patrick Thiele, commented, "We are pleased to meet the expanding needs of South American insurance companies by creating a presence in Chile. This new office represents a further step in our commitment to Latin America and our strategic initiative to more effectively serve our clients in the region."

PartnerRe's Chile office is temporarily located at Av. Vitacura 2939 p. 10, Las Condes - Santiago. Contact numbers: 0056 2 431 5077 or 0056 2 431 5078.