PEMBROKE, Bermuda–(BUSINESS WIRE)– PartnerRe Ltd. (NYSE: PRE) announced that subsidiary, Partner Reinsurance Europe SE, was granted a license from the Dubai Financial Services Authority (“DFSA”) to operate as an Authorised Firm in the Dubai International Financial Centre (“DIFC”), effective December 16, 2015.
PartnerRe’s branch office in the DIFC will be focused on providing regional facultative support in property and construction lines, to our clients based in the Middle East region. PartnerRe has appointed John Ramesh to the position of Senior Executive Officer of the Dubai branch, to lead the team. Underwriting operations from our DIFC office will begin on January 1, 2016.
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, multi-line 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, 2014, total revenues were $6.5 billion. At September 30, 2015, total assets were $22.0 billion, total capital was $7.6 billion and total shareholders’ equity attributable to PartnerRe was $6.8 billion.
PartnerRe on the Inteet: www.partnerre.com
Investor Contact: Robin Sidders
Media Contact: Celia Powell
Sard Verbinnen & Co.
Drew Brown/Daniel Goldstein
Source: PartnerRe Ltd.