PartnerRe Ltd. Completes Offering of 7.25% Series E Cumulative Redeemable Preferred Shares

PEMBROKE, Bermuda – 16 June, 2011 - PartnerRe Ltd. (the “Company”; NYSE, Euronext: PRE) announced that it has completed its previously announced offering of 14,950,000 of its 7.25% Series E Cumulative Redeemable Preferred Shares (the “Series E Preferred Shares”), for an aggregate price to the public of $373.75 million.

The offering amount included 1,950,000 Series E Preferred Shares purchased by the underwriters pursuant to an over-allotment option, resulting in incremental gross proceeds to the Company of $48.75 million.

The Series E Preferred Shares, which have a liquidation preference of $25.00 per share, are expected to trade on the New York Stock Exchange under the symbol “PRE PrE”.

 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

Contacts:        

PartnerRe Ltd.

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

Sard Verbinnen & Co.
Drew Brown/Briana Kelly                               (212) 687-8080