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 2.1 million common shares to the approximately 2.9 million common shares remaining under the prior authorization announced by the Company on November 19, 2007,” said the bulletin. “To date in 2008, the Company has repurchased a total of 1.5 million common shares.
“From time to time, and depending on market conditions, the repurchase program will be accomplished in open market or privately negotiated transactions.”
Source – PartnerRe Ltd. – www.partnerre.com
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