PartnerRe Ltd. Provides Initial Estimate of Losses Resulting from the Tohoku Earthquake and Tsunami in Japan

PEMBROKE, Bermuda – 14 April, 2011 - PartnerRe Ltd. (the “Company”; NYSE, Euronext: PRE) provided an initial estimate of the losses related to the Tohoku earthquake and resulting tsunami in Japan.

Based on the current data and information available to the Company, PartnerRe estimates that the total net impact of these events will result in a loss of approximately $500 million. The net loss for these events, which will be recorded in the Company’s first quarter 2011 results, will primarily impact the Company’s Catastrophe sub-segment, with smaller amounts included in the Company’s other Non-Life sub-segments and its Corporate and Other segment.

Loss estimates are pre-tax, net of retrocession and reinstatement premiums, and relate to all of the Company’s Non-Life exposures, as well as insurance-linked securities, that are expected to be impacted by these events.

On March 11, 2011, a magnitude 9.0 earthquake struck off the coast of Honshu, Japan, causing widespread damage to property and infrastructure. The earthquake also triggered a large tsunami which impacted a substantial portion of the nearby coastal region. These events resulted in significant damage to both residential and commercial risks. The Company estimates that total insured non-life industry losses from these events are likely to be in the range of $25-$30 billion.

PartnerRe’s net loss estimate is based primarily on modeled losses for the Company’s portfolio, as limited information has been received from cedants to date. While the Company believes its techniques for modeling the impact of losses related to these events provides a reasonable basis for estimation, it cautions that estimates based primarily on modeling are subject to a high degree of uncertainty. Additionally, due to the characteristics of the Company’s reinsurance portfolio in the region, changes in loss assumptions for specific cedants may have a significant impact on the Company’s total net loss estimate. For these reasons, the Company believes there remains a high degree of uncertainty related to this estimate and actual net losses may differ materially.

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. The Company, through its wholly owned subsidiaries, also offers capital markets 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, mortality, longevity and health, and alternative risk products. For the year ended December 31, 2010, total revenues were $5.9 billion, and at December 31, 2010, total assets were $23.4 billion, total capital was $8.0 billion and total shareholders’ equity was $7.2 billion.

PartnerRe on the Internet: www.partnerre.com
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PartnerRe Ltd.

Investor Contact:        Robin Sidders                        
Media Contact:           Celia Powell                (441) 292-0888

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