Flexibility

PartnerRe Ltd. To Acquire PARIS RE
PartnerRe announced that it has entered into definitive agreements to acquire PARIS RE a French-listed, Swiss-based diversified reinsurer. PartnerRe will exchange 0.30 of its common shares for each PARIS RE common share outstanding in a stock-for-stock transaction.This acquisition is expected to add $1.7 billion in new shareholders' equity to PartnerRe. Separately, PARIS RE is expected to distribute $310 million (net of amount due on existing treasury shares held by PARIS RE) in cash as a return