Key Developments: PartnerRe Ltd (PRE)
88.59USD
24 May 2013
$1.12 (+1.28%)
$87.47
$87.32
$88.80
$87.21
874,028
636,867
$96.41
$69.97
Latest Key Developments (Source: Significant Developments)
Partnerre Ltd Declares Dividends on Series D Cumulative Redeemable Preferred Shares, Series E Cumulative Redeemable Preferred Shares and Series F Cumulative Redeemable Preferred Shares
Partnerre Ltd announced that its Board of Directors has declared a dividend for the period March 1, 2013 - May 31, 2013 of $0.40625 per share on the Company`s 6.50% Series D Cumulative Redeemable Preferred Shares and $0.453125 per share on the Company`s 7.25% Series E Cumulative Redeemable Preferred Shares. The Company has also declared a dividend for the period February 14, 2013 - May 31, 2013 of $0.4283854 per share on the Company`s 5.875% Series F Cumulative Redeemable Preferred Shares. The dividends are payable on June 3, 2013, to shareholders of record on May 23, 2013. Full Article
Partnerre Ltd Declares Quarterly Dividend
Partnerre Ltd announced that Board of Directors has declared a dividend of $0.64 per common share. The dividend will be payable on May 31, 2013, to common shareholders of record on May 20, 2013, with the stock trading ex-dividend commencing May 16, 2013. Full Article
Partnerre Ltd Establishes New Companion Facility, Lorenz Re
Partnerre Ltd announced the formation of Lorenz Re Ltd., a Special Purpose Insurer domiciled in Bermuda. Lorenz Re was capitalized with $75 million through the issuance of multiple classes of preference shares. It will provide additional capacity to PartnerRe on a diversified portfolio of catastrophe reinsurance treaties over a multi-year period. Aon Benfield Securities, Inc. acted as advisor on the transaction. Prime Management Limited, a Bermuda company specializing in the administration of investment funds and special purpose insurance vehicles, will serve as the insurance manager of Lorenz Re. Full Article
Partnerre Ltd Authorizes Repurchase Of Up To 6 Million Shares
Partnerre Ltd announced that its Board of Directors has approved a share repurchase authorization for a total of up to 6 million common shares, effective immediately. This authorization supercedes the Company's previous authorization of August 2012. From time to time, and depending on market conditions, the Company will continue the repurchase program in open market or privately negotiated or structured transactions. Full Article
Partnerre Ltd Declares Dividends on Series C Cumulative Redeemable Preferred Shares, Series D Cumulative Redeemable Preferred Shares and Series E Cumulative Redeemable Preferred Shares
Partnerre Ltd announced that its Board of Directors has declared a dividend for the period December 1, 2012 - February 28, 2013 of $0.421875 per share on the Company`s 6.75% Series C Cumulative Redeemable Preferred Shares, and $0.40625 per share on the Company`s 6.5% Series D Cumulative Redeemable Preferred Shares, and $0.453125 per share on the Company`s 7.25% Series E Cumulative Redeemable Preferred Shares. The dividends are payable on March 1, 2013, to shareholders of record on February 15, 2013. Full Article
Partnerre Ltd Increases Quarterly Common Share Dividend By 3% To $0.64 From $0.62 Per Share
Partnerre Ltd announced that its Board of Directors has increased the annual dividend to $2.56 per common share, from $2.48 per common share. The Board declared a regular quarterly dividend of $0.64 per common share. The dividend will be payable on March 1, 2013, to common shareholders of record on February 19, 2013, with the stock trading ex-dividend commencing February 15, 2013. Full Article
Partnerre Ltd Announces Completion of Acquisition of Presidio Specialty Accident & Health Underwriting Platform
Partnerre Ltd announced the completion of its previously announced acquisition of California-based Presidio Reinsurance Group, a United States-based specialty accident and health reinsurance and insurance writer. All required regulatory approvals have been obtained. The financial terms of the deal were not disclosed. Full Article
Partnerre Ltd Announces Acquisition of Presidio Reinsurance Group
Partnerre Ltd announced a definitive agreement to acquire California-based Presidio Reinsurance Group, U.S. specialty accident and health reinsurance and insurance writer. PartnerRe will purchase the Presidio Reinsurance Group, comprised principally of a Managing General Agency (MGA) and a reinsurance carrier. Under the terms of the agreement, PartnerRe will pay $72 million as consideration for the MGA, plus tangible book value as consideration for the Presidio reinsurance carrier, with such book value to be determined at the time of the closing. Additional consideration may be paid if the acquired business exceeds certain profitability targets over time. Full Article
Partnerre Ltd Announces Delisting Of Shares From NYSE Euronext Paris
Partnerre Ltd announced that it will delist its shares from NYSE Euronext Paris, effective January 18, 2013. PartnerRe shares will continue to be traded on the New York Stock Exchange (NYSE). PartnerRe made the decision to delist the shares traded on NYSE Euronext Paris as a result of low trading volumes over the past three years. PartnerRe announced the cross-listing in Paris in December 2009, as a result of the acquisition of PARIS RE, to provide investors with a Euro-denominated, European-listed trading platform, in addition to PartnerRe`s U.S. Dollar listing on NYSE. Full Article
Partnerre Ltd Declares Quarterly Dividend
Partnerre Ltd announced that its Board of Directors has declared a dividend of $0.62 per common share. The dividend will be payable on November 30, 2012, to common shareholders of record on November 19, 2012, with the stock trading ex-dividend commencing November 15, 2012. Full Article
TEXT-Fitch affirms PartnerRe's ratings, outlook is stable
Jan 9 - Fitch Ratings today affirmed PartnerRe's existing ratings, including the 'A+' Issuer Default Rating (IDR) of PartnerRe and the 'AA-' Insurer Financial Strength (IFS) rating of Partner Reinsurance Company Ltd., the company's principal (re)insurance operating subsidiary. The Rating Outlook is Stable. A complete list of rating actions appears below. The ratings affirmation reflects the company's continued strong competitive position, solid balance sheet, and good long-term track record of
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