PartnerRe Ltd. Announces Closing of Senior Notes Offering and Delivery of Notice of Redemption

PEMBROKE, Bermuda–(BUSINESS WIRE)–PartnerRe Ltd. (“PartnerRe”) announced today that its subsidiary,
PartnerRe Finance B LLC (“PRE Finance B”), has closed its previously
announced offering of $500 million aggregate principal amount of 3.70%
Senior Notes due July 2, 2029 (the “Notes”). The Notes are senior
unsecured obligations of PRE Finance B and are fully and unconditionally
guaranteed by PartnerRe.

As previously announced, PRE Finance B intends to use the net proceeds
from the offering of the Notes to redeem all $500 million in aggregate
principal amount of its outstanding 5.50% Senior Notes due 2020 (the
“2020 Notes”).

In that regard, PartnerRe also announced today that PRE Finance B has
delivered to all registered holders of its 2020 Notes a notice of
redemption to redeem all of the outstanding 2020 Notes at a make-whole
redemption price, calculated in accordance with the indenture governing
the 2020 Notes.

This press release is for informational purposes only and does not
constitute an offer to sell or a solicitation of an offer to buy, nor
shall there be any sale of any of the securities described herein in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such jurisdiction.

This press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and
which are made pursuant to the safe harbor provisions of the United
States Private Securities Litigation Reform Act of 1995. These
statements are based on the beliefs and assumptions of our management.
Generally, forward-looking statements include information concerning
possible or assumed future actions, events or our results of operations.
Forward-looking statements are subject to significant business, economic
and competitive risks and uncertainties that could cause actual results
to differ, potentially materially, from those reflected in such
forward-looking statements. Forward-looking statements are not
guarantees of performance. We caution that undue reliance should not be
placed on any forward-looking statements, which speak only as of the
date of this press release. We do not undertake any duty or
responsibility to update any of these forward-looking statements to
reflect events or circumstances after the date of this press release or
to reflect actual outcomes. Additional factors that may affect future
results and conditions are described in our filings with the SEC,
including our Annual Report on Form 20-F for the year ended December 31,
2018.

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PartnerRe Ltd. is a leading global reinsurer that helps insurance
companies reduce their earnings volatility, strengthen their capital and
grow their businesses through reinsurance solutions. Risks are
underwritten on a worldwide basis through the Company’s three segments:
P&C, Specialty, and Life and Health.

Contacts

PartnerRe Ltd.
Media Contact: Celia Powell
Investor
Contact: Ryan Lipschutz
+1 (441) 292-0888

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