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PartnerRe Ltd. Announces Receipt of Subpoena
PEMBROKE, Bermuda: June 16, 2005 - PartnerRe Ltd. (NYSE:PRE) today announced that it has received a subpoena from the United States Attorney for the Southern District of New York requesting information relating to PartnerRe's finite reinsurance products. The Company believes that other companies in the industry have received similar subpoenas as part of an inquiry into the use of finite products. PartnerRe intends to cooperate fully in responding to this and other requests for information from regulatory authorities.
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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, and alternative risk transfer solutions. At December 31, 2004, total revenues were $4.2 billion. As of March 31, 2005 total assets were $13.1 billion, total capitalization was $3.7 billion and total shareholders' equity was $3.3 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
Contacts:
PartnerRe Ltd.
(441) 292-0888
Investor Contact: Robin Sidders, Investor Relations
Media Contact: Celia Powell, Corporate Relations
Citigate Sard Verbinnen
(212) 687-8080
Jim Barron/Hallie Bozzi