PartnerRe Announces Executive Management Changes

  PartnerRe Announces Executive Management Changes

  *Marvin Pestcoe, CEO Life & Health, Investments to retire in April 2014
  *Bill Babcock, Chief Financial Officer, to assume executive responsibility
    for Investments
  *Emmanuel Clarke, CEO PartnerRe Global, to assume executive responsibility
    for Life & Health
  *Charles Goldie, Head of Specialty Lines to be promoted to Deputy CEO,
    PartnerRe Global
  *John Adimari, Head of Risk Management Services to be appointed Chief
    Administrative Officer

Business Wire

PEMBROKE, Bermuda -- February 26, 2014

PartnerRe Ltd. (NYSE:PRE) today announced several executive management
changes. Marvin Pestcoe, currently CEO Life & Health, Investments has advised
the Company of his decision to retire, effective April 15, 2014. Mr. Pestcoe
will continue to work with the Company in a consulting capacity.

Mr. Pestcoe joined PartnerRe in 2001 as head of the Company’s alternative risk
operations, and in 2008 was appointed Deputy Head of Capital Markets Group and
Head of Capital Assets. In 2010 Mr. Pestcoe assumed responsibility for all
investments and executive responsibility for the Life operations. These
responsibilities were expanded to include PartnerRe’s Health operations after
the acquisition of Presidio Reinsurance Group in December 2012.

PartnerRe President and CEO, Costas Miranthis, commented, “Marvin has been an
integral part of PartnerRe’s development – first in establishing our presence
in the alternative risk markets, then building the capital assets initiative
to a position of strength and finally stewarding the Life and Health
operations. In that time, Marvin’s intellect and deep knowledge of our
business have been an enormous asset. I am pleased that we will continue to
benefit from his counsel through our consulting arrangement.”

As a result of Marvin’s decision to retire, PartnerRe will make the following
changes to its executive management responsibilities:

  *Bill Babcock, Chief Financial Officer, will assume executive
    responsibility for Investments.
  *Emmanuel Clarke, CEO PartnerRe Global will assume executive responsibility
    for Life and Health.

In addition, as a result of these changes, PartnerRe will make the following

  *Charles Goldie, currently Head of Specialty Lines, will be promoted to the
    position of Deputy CEO Global, Non-Life and will assume responsibility for
    all Non Life Treaty outside North America other than Catastrophe. Mr.
    Goldie’s expanded responsibilities will include Mature Markets (P&C), led
    by Christophe Renia, and High Growth Markets led by Salvatore Orlando. Mr.
    Goldie will continue to report to the CEO, PartnerRe Global.
  *John Adimari, currently Head of Risk Management Services, will be
    appointed to the newly created position of Chief Administrative Officer.
    In addition to his current responsibilities, Mr. Adimari will take
    responsibility for Human Resources, Legal and Corporate Communications.
    Mr. Adimari will continue to report to the Group CEO.

Mr. Miranthis continued, “We are fortunate to have the breadth and depth of
management talent to allow us to accommodate Marvin’s retirement. I have
worked closely with all the individuals who assume new responsibilities, and I
am confident that they have the leadership skills to continue taking PartnerRe

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 and Health operations, and
alternative risk products. For the year ended December 31, 2013, total
revenues were $5.5 billion. At December 31, 2013, total assets were $23.0
billion, total capital was $7.5 billion and total shareholders’ equity
attributable to PartnerRe was $6.7 billion.

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PartnerRe Ltd.
Investor: Robin Sidders
Media: Celia Powell
Sard Verbinnen & Co
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