PartnerRe Ltd. Provides January 2013 Non-Life Renewal Data

  PartnerRe Ltd. Provides January 2013 Non-Life Renewal Data

Business Wire

PEMBROKE, Bermuda -- January 30, 2013

PartnerRe Ltd. (NYSE: PRE) today announced that during the January 1, 2013
treaty renewal season it expects to write and bind approximately $2.0 billion
of Non-Life treaty premium. On a constant foreign exchange basis, this
represents an increase of 12% from the renewable premium base. The Company
renews approximately 60% percent of its total annual Non-Life treaty business
on January 1.

The renewal data does not include U.S. agriculture premium which renews later
in the first quarter of 2013. The Company expects to write approximately $400
million of U.S. agriculture premium, including MPCI and crop hail, although
the ultimate amount may vary significantly from this initial estimate. The
2012 U.S. agriculture portfolio was approximately $220 million.

The renewal numbers relate to reinsurance treaty business only. In addition to
treaty reinsurance, the Company writes facultative business. Renewal dates for
facultative are more evenly distributed during the year than renewal dates for
treaty business. During 2013, the Company expects to write approximately $390
million of facultative business.

PartnerRe President & Chief Executive Officer Costas Miranthis said, “We are
very pleased with the outcome of the January 1 renewal. Against a background
of generally improving primary insurance and largely stable reinsurance terms,
PartnerRe’s strong global franchise, long-term relationships, and technical
capabilities served us well. We were able to grow our participations with a
number of existing clients, add a number of new relationships, all while
maintaining the same overall risk appetite.”

Mr. Miranthis added, “The success of the January 1 Non-life portfolio renewal,
in addition to the recent acquisition of the Presidio specialty accident and
health underwriting platform, provides us with a very strong foundation to
execute our strategy in 2013 and beyond.”

The table below outlines PartnerRe’s January 1, 2013 Non-Life treaty renewals.


PartnerRe January 1, 2013 Non-Life Treaty Renewal

(amounts are in U.S. $ millions and are on a constant foreign exchange basis)
              North     Global    Global       Catastrophe   PartnerRe
                            (Non-       (Non-U.S.)
                America   U.S.)     Specialty                 
                            P&C
Renewable       $ 334       $ 550       $  718         $   254         $ 1,856
In Process
/                2         1          40            2           45    
Extensions
Renewable         332         549          678             252           1,811
Base
Non-Renewed      (21 )      (50 )       (22  )         (24  )       (117  )
Renewed           311         499          656             228           1,694
Renewal
Changes/New      58        145        114           17          334   
Business
Total
Estimated         369         644          770             245           2,028
Premium
In Process
/ Potential      2         2          43            1           48    
New
Total           $ 371      $ 646      $  813        $   246        $ 2,076 
Potential
Growth %       11  %    17  %     13   %       (3   %)    12    %
                                                                               

PartnerRe is scheduled to release fourth quarter and full year 2012 results
after the close of trading on Wednesday, February 6, 2013. PartnerRe
Management will conduct a conference call and webcast on Thursday, February 7,
2013 at 10:00 a.m. Eastern to discuss results and provide additional
information on the January 1, 2013 renewals.

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 in its Non-life operations, mortality,
longevity and accident and health in its Life operations, and alternative risk
products. For the year ended December 31, 2011, total revenues were $5.4
billion. At September 30, 2012, total assets were $23.6 billion, total capital
was $7.9 billion and total shareholders’ equity was $7.1 billion.

PartnerRe on the Internet: www.partnerre.com

Forward-looking statements contained in this press release are based on the
Company’s assumptions and expectations concerning future events and financial
performance and are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such statements are subject to
significant business, economic and competitive risks and uncertainties that
could cause actual results to differ materially from those reflected in the
forward-looking statements. PartnerRe’s forward-looking statements could be
affected by numerous foreseeable and unforeseeable events and developments
such as exposure to catastrophe, or other large property and casualty losses,
credit, interest, currency and other risks associated with the Company’s
investment portfolio, adequacy of reserves, levels and pricing of new and
renewal business achieved, changes in accounting policies, risks associated
with implementing business strategies, and other factors identified in the
Company’s filings with the Securities and Exchange Commission. In light of the
significant uncertainties inherent in the forward-looking information
contained herein, readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the dates on which they are
made. The Company disclaims any obligation to publicly update or revise any
forward-looking information or statements.

Contact:

PartnerRe Ltd.
441-292-0888
Investors: Robin Sidders
Media: Celia Powell
or
Sard Verbinnen & Co
212-687-8080
Drew Brown/Daniel Goldstein