PEMBROKE, Bermuda–(BUSINESS WIRE)– PartnerRe Ltd. (NYSE:PRE) today announced that its Board of Directors has approved a share repurchase authorization for a total of up to 5 million common shares, effective immediately.
This authorization supercedes the Company’s previous authorization of September 2013. From time to time, and depending on market conditions, the Company may continue to repurchase shares in open market or privately negotiated or structured transactions.
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 June 30, 2014, total assets were $23.4 billion, total capital was $7.7 billion and total shareholders’ equity attributable to PartnerRe was $6.9 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.