Partner Re acquires Paris Re

By purchasing the Swiss Paris Re for 2 billion USD, Partner Re becomes the world's fourth reinsurer capitalization wise. The premium volume for the new entity amounts to 5,4 billion USD by the end of 2008, which makes it the sixth reinsurer. According to Patrick Thiele, Partner Re's CEO, this takeover is driven by the search for a more balanced portfolio and stronger equities. This move shall be completed by the end of the first quarter 2010.

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