SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 29, 2001 (October 26, 2001)
PARTNERRE LTD.
(Exact name of registrant as specified in its charter)
Bermuda 0-2253 Not Applicable
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
Chesney House, 96 Pitts Bay Road, Pembroke, Bermuda HM 08
(Address of principal executive offices) (Zip Code)
(441) 292-0888
(Registrant's telephone number, including area code)
Item 5. Other Events.
On October 26, 2001, PartnerRe Ltd. (the "Company") announced that it
intends, subject to market conditions, to raise $350 million of new capital in
the form of trust preferred and convertible preferred securities, before the end
of the year. A copy of a press release issued by the Company on October 26, 2001
is included as exhibit 99.1 to this filing and is incorporated herein by
reference.
The Company is a leading global reinsurer, providing multi-line reinsurance
to insurance companies through its wholly owned subsidiaries, Partner
Reinsurance Company, Partner Re U.S. and PartnerRe S.A. Risks reinsured include
property, catastrophe, agriculture, automobile, casualty, marine,
aviation/space, credit/surety, technical and miscellaneous lines, life/annuity
and health.
This Form 8-K contains forward-looking statements that are based upon the
Companys assumptions and expectations concerning future events and are subject
to significant business, economic and competitive risks and uncertainties that
could cause actual results to differ materially from those reflected in the
forward-looking statements made by, or on behalf of the Company. These risks and
uncertainties include, among other things, those described in the Company's
filings with the Securities and Exchange Commission, all of which are difficult
or impossible to predict accurately and many of which are beyond the control of
the Company. Whether or not actual results differ materially from
forward-looking statements may depend on numerous foreseeable and unforeseeable
events or developments, such as general economic conditions and interest rates,
some of which may be related to the insurance industries generally, such as
pricing competition, industry consolidation and regulatory developments, and
others of which may relate to the Company specifically, such as risks with
implementing business strategies, adequacy of reserves, exposure to catastrophe
losses, emergence of new information, credit, interest rate, currency and other
risks associated with the Company's investment portfolio, and other factors. In
light of the significant uncertainties inherent in the forward-looking
information herein, the inclusion of such information should not be regarded as
a representation by the Company or any other person that the Company's
objectives or plans will be realized. The Company disclaims any obligation to
update forward-looking information.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits:
99.1 Press Release dated October 26, 2001.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: October 29, 2001 PARTNERRE LTD.
(Registrant)
By: /s/ Albert Benchimol
-------------------------------
Name: Albert Benchimol
Title: Executive Vice President
and Chief Financial Officer
EXHIBIT INDEX
Exhibit Description
99.1 Press Release dated October 26, 2001.