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Merger with PartnerRe
On December 7, 2009, PartnerRe completed its acquisition, through its wholly owned subsidiary PartnerRe Holdings II Switzerland GmbH (“PartnerRe Holdings”), of 100% of the outstanding common shares of PARIS RE Holdings Ltd ("PARIS RE"), following the approval by PARIS RE's shareholders and PartnerRe Holdings’ shareholder of the previously announced merger. As a result of the successful merger vote and completion of the merger, each remaining PARIS RE’s common share not already owned by PartnerRe has been exchanged into the right to receive 0.3018 PartnerRe common share.
As previously announced, the two companies will renew their respective books of business separately until June 30, 2010.
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PartnerRe 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, other lines, life/annuity and health, and alternative risk products.
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