PartnerRe Ltd. Provides Update on Hurricane Charley

PartnerRe Ltd. Provides Update on Hurricane Charley 


PEMBROKE, Bermuda, Aug. 16  /PRNewswire-FirstCall/ -- PartnerRe Ltd. (NYSE:
PRE) today provided information on the impact of Hurricane Charley, which hit
the Florida coastline last Friday, August 13, 2004.

Hurricane Charley moved over Cuba and the Gulf of Mexico before making landfall
on the southwest coast of Florida. At its peak, Hurricane Charley was a
Category 4 hurricane with winds exceeding 145 miles per hour, making it one of
the strongest storms to hit the United States since 1992. The storm then
followed a northeasterly path diagonally across Florida, eventually being
downgraded to a Category 1 hurricane before heading out into the Atlantic, and
then making landfall again in the Carolinas, and moving up the East Coast
before dissipating east of Cape Cod yesterday.

PartnerRe president and CEO Patrick Thiele said, "Our thoughts and prayers go
out to those people whose lives have been affected by Hurricane Charley.

"PartnerRe is currently working with clients and intermediaries to assess the
impact of Charley and the potential claims that may be reported to PartnerRe.
We expect to have a credible estimate of PartnerRe's exposure later this week
and will communicate our estimate at that time. We would caution against making
estimates of a loss to PartnerRe based on the industry loss estimates provided
to date."

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance
to insurance companies. Risks reinsured include property, casualty, motor,
agriculture, aviation/space, catastrophe, credit/surety, engineering/energy,
marine, special risks, other lines, life/annuity and health, and alternative
risk transfer solutions. At year-end 2003, total revenues were $3.9 billion. As
of June 30, 2004, total assets were $11.8 billion, total capitalization was
$3.3 billion and total shareholders' equity was $2.7 billion. Our major
reinsurance operations have ratings of AA- from Standard & Poor's, Aa3 from
Moody's, A+ from A.M. Best, and AA from Fitch.

PartnerRe on the Internet: http://www.partnerre.com/

Forward-looking statements contained in this press release are based on the
Company's assumptions and expectations concerning future events and financial
performance and are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such statements are subject to
significant business, economic and competitive risks and uncertainties that
could cause actual results to differ materially from those reflected in the
forward-looking statements. PartnerRe's forward-looking statements could be
affected by numerous foreseeable and unforeseeable events and developments such
as exposure to catastrophe or other large losses, adequacy of reserves, risks
associated with implementing business strategies, levels and pricing of new and
renewal business achieved, credit, interest, currency and other risks
associated with the Company's investment portfolio and other factors identified
in the Company's filings with the Securities and Exchange Commission. In light
of the significant uncertainties inherent in the forward-looking information
contained herein, readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the dates on which they are
made. The Company disclaims any obligation to publicly update or revise any
forward-looking information or statements. 

DATASOURCE: PartnerRe Ltd.



CONTACT:  Investor, Robin Sidders, or Media, Celia Powell, both of

PartnerRe Ltd., [phone]; Jim Barron or Hallie Bozzi, both of Citigate

Sard Verbinnen, [phone]



Web site:  http://www.partnerre.com/

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