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PartnerRe Announces Executive Management Changes in its U.S. Operations

^{Published on 2009-01-05 13:45:49, Last Modified on 2009-01-05 13:46:33 - Market Wire}
 

PEMBROKE, Bermuda--([ BUSINESS WIRE ])--PartnerRe Ltd. (NYSE: PRE) today announced executive changes in its U.S. operations.

Scott Moore, President and CEO of PartnerRe U.S., has advised the Company of his decision to retire. Effective January 1, 2009, Tad Walker, Chief Underwriting Officer of PartnerRe U.S., succeeds Mr. Moore as President and CEO of the U.S. operations. Mr. Moore will remain with the Company until March, 2009 and will hold the newly created position of Deputy Chairman, PartnerRe U.S.

Mr. Moore has held the position of President and CEO, PartnerRe U.S., since July 1998. Prior to moving into his current role, he was Chief Financial Officer for PartnerRe Ltd., from inception of the Company in 1993. Mr. Walker joined PartnerRe in 2002 as head of the worldwide catastrophe underwriting operations. In July 2007, Mr. Walker assumed the role of Chief Underwriting Officer for the U.S. operations.

PartnerRe President and CEO, Patrick Thiele said, "Scott has been instrumental in building PartnerRe into the strong and profitable company it is today, first in his role as CFO, when he helped establish PartnerRe as a successful start-up, and then as CEO of the U.S. operations. In the past ten years, he has fostered the growth and development of the PartnerRe U.S. organization from a small property reinsurer to the well balanced, diversified industry leader it is today. I thank Scott for his significant contribution and long-standing commitment to PartnerRe."

He continued, "I am pleased to have Tad assume leadership of the U.S. organization. His reinsurance knowledge, operational experience and leadership skills, as demonstrated with the catastrophe unit and most recently in the U.S. operations, position him well for this role. I am confident that Tad will sustain and further develop the strength and leadership position of our U.S. operations."

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. The Company, through its wholly owned subsidiaries, also offers alternative risk 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, life/annuity and health, and alternative risk products. For the year ended December 31, 2007, total revenues were $4.2 billion. At September 30, 2008, total assets were $16.3 billion, total capital was $5.0 billion and total shareholders' equity was $4.1 billion.

PartnerRe on the Internet: [ www.partnerre.com ]