This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

PartnerRe Ltd. Announces 5% Growth in January 2004 Non-Life Renewals

10 10 2004

PEMBROKE, Bermuda: February 10, 2004 -- PartnerRe Ltd. (NYSE:PRE) today announced that during the January 2004 renewal season, the Company bound Non-Life contracts which are expected to generate $2.0 billion in premiums. This represents a 5% increase on a constant dollar basis over premiums generated in the January 2003 renewal season.

The Company entered the January 1, 2004 renewal season with expiring Non-Life premium of $1.9 billion. PartnerRe non-renewed contracts representing $340 million. Increased pricing and larger shares of treaties totaled $170 million of incremental premium on business renewed, and the Company wrote $260 million of new business.

PartnerRe President and Chief Executive Officer Mr. Patrick Thiele said, "We had a good January 1 renewal in terms of overall growth and profitability. We found the market to be responsibly competitive. Pricing in the longer-tailed lines continued to be strong, while certain shorter-tail and specialty lines showed some decrease in price. Geographically, we had strong growth in the U.S. and more moderate growth in Europe."

Below is a table outlining our January 1, 2004 renewal:

PartnerRe January 2004 Renewal

(amounts are in U.S. $ millions)

Renewable Base $1,940

Non-Renewed $(340)

Renewed $1,600

Renewal Increases $170

New Business $260

Total Expected Premium $2,030

Growth % 5%

The Company expects consolidated net premiums written to reach $3.9 billion in 2004.The information presented in this press release differs from planned premium levels as it does not include PartnerRe's Life or ART operations, and is on a constant dollar basis. January 1 renewals typically account for approximately 60% of the total annual Non-Life business bound by the Company.

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. Risks reinsured include property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering/energy, marine, special risks, other lines, life/annuity and health. At year-end 2003, total revenues were $3.9 billion, total assets were $10.9 billion, total capitalization was $3.2 billion and total shareholders' equity was $2.6 billion. Our major reinsurance operations have ratings of AA- from Standard & Poor's, Aa3 from Moody's, A+ from A.M. Best, and AA from Fitch.

PartnerRe on the Internet: www.partnerre.com