Bermuda-based PartnerRe Ltd. announced that its Board of Directors has approved an increase in the Company’s share repurchase authorization for a total of up to 5 million common shares.
“This reflects an increase of approximately 2.6 million common shares to the approximately 2.4 million common shares remaining under the prior authorization announced by the Company on May 11, 2007,” said the bulletin. “To date in 2007, the Company has repurchased a total of 3.1 million common shares.”
The repurchases will be made in the open market from time to time and through privately negotiated transactions.
Source: PartnerRe – http://www.partnerre.com
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