Mike Mitchard Appointed as PartnerRe's Chief Information Officer

PEMBROKE, Bermuda, May 8 /PRNewswire-FirstCall/ -- PartnerRe Ltd. today announced that Mike Mitchard has been appointed as PartnerRe's Chief Information Officer.

Mr. Mitchard brings with him 23 years of experience in information technology, most recently at ACE Overseas General, where he took operational control of the company's global data center and European systems groups in 1998. Since 2001, Mr. Mitchard held the position of Chief Information Officer, where he was responsible for defining strategic IT direction to reinforce business plans, including the development or implementation of underwriting, investment and management information systems.

PartnerRe President and CEO Patrick Thiele said, "Mike is a seasoned IT professional, and has a proven track record in managing information technology and operations in financial services, as well as an in-depth understanding of our industry. I am confident that Mike and the professionals on the Group and local IT teams will provide the support we need to execute our business strategies going forward."

Mr. Mitchard will be replacing Werner Heiz, who is retiring from the Company. He will report to Costas Miranthis, who has overall responsibility for Group IT.

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, specialty property, specialty casualty, other lines, life/annuity and health, and alternative risk transfer solutions. At December 31, 2005, total revenues were $4.2 billion. As of March 31, 2006 total assets were $14.6 billion, total capitalization was $4.0 billion and total shareholders' equity was $3.2 billion. Our major reinsurance operations have ratings of AA- (stable) from Standard & Poor's, Aa3 (negative outlook) from Moody's, A+ (stable) from A.M. Best, and AA (stable) from Fitch.

Contacts: PartnerRe Ltd. (441) 292-0888 Investor Contact: Robin Sidders, Investor Relations Media Contact: Celia Powell, Corporate Communications