PartnerRe Announces 2005 Financial Plan

November 18, 2004

Bermuda’s PartnerRe Ltd. announced that it will provide details of the Company’s 2005 financial plan, which was recently approved by the Company’s Board of Directors, at a presentation during the Company’s Investor Day in New York City.

PartnerRe President & CEO Patrick Thiele stated: “Our 2005 plan is based upon our current view of market conditions, pricing loss ratios that assume a normalized loss experience and moderately higher interest rates. Barring unusually large loss events, the Company expects to achieve an operating return on equity of at least 14 percent, operating earnings per share of at least $6.90, and year-end 2005 book value of approximately $54.00 per share. The Company also expects that net written premium levels will be flat to down 5 percent.”

The Investor Day presentation provides details on the Company’s long-term strategy, its risk management philosophy and its integrated management approach, with key operational leaders presenting on their areas of expertise.

The presentation webcast, and accompanying slides, can be accessed on PartnerRe’s website at in the Investor Information section.

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