Securing
the Future

PartnerRe has evolved continuously since it was formed in 1993. Originally a catastrophe-only reinsurer, we took the decision to broaden our strategy to become a global, multiline reinsurer through the purchase of SAFR in 1997 and Winterthur Re in 1998. We spent the next three years integrating the three operations into one, refining the new elements of the strategy, designing a new organizational structure and coping with a difficult market. By the end of 2001 – and after the tragedy of September 11 – we were ready to execute our long-term strategy as one company in an improved market.

Over the last eight years, PartnerRe has increased its size, diversification and risk management capabilities, reducing our vulnerability to external events and increasing our stability. The acquisition of PARIS RE is the latest step in our evolution, taking us from mid-sized specialist to "light heavyweight" specialist reinsurer. Our enhanced market presence, risk diversification, capital strength and scale bring significant benefits.

At the same time, PartnerRe's strategy, financial goals, values and the way we think about, evaluate and manage risk – all of which have made the Company successful – will not change. We will simply be a more stable, better balanced, larger and stronger version of the Company you know today.

In the following pages we give an overview of how the steps taken over the last eight years have made us a stable, secure company and how the acquisition of PARIS RE puts us in an even stronger position for the future.

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