PartnerRe Ltd. Announces Delisting of Shares from NYSE Euronext Paris
PEMBROKE, Bermuda--(BUSINESS WIRE)-- Regulatory News:
PartnerRe Ltd. (NYSE,Euronext:PRE) today announced 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.
The delisting was recently approved by the Board of Directors of Euronext Paris S.A. Further details on the delisting process will be disclosed in an official notification from NYSE Euronext Paris on December 14, 2012 on the NYSE website at https://europeanequities.nyx.com/en/products/equities/BMG6852T1053-XPAR.
PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. The Company, through its wholly owned subsidiaries, also offers capital markets products that include weather and credit protection to financial, industrial and service companies. Risks reinsured include property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering, energy, marine, specialty property, specialty casualty, multiline and other lines, mortality, longevity and health, and alternative risk products. For the year ended December 31, 2011, total revenues were $5.4 billion. At September 30, 2012, total assets were $23.6 billion, total capital was $7.9 billion and total shareholders' equity was $7.1 billion.
PartnerRe on the Internet:www.partnerre.com
Forward-looking statements contained in this press release are based on the Company's assumptions and expectations concerning future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements 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. PartnerRe's forward-looking statements could be affected by numerous foreseeable and unforeseeable events and developments such as exposure to catastrophe, or other large property and casualty losses, credit, interest, currency and other risks associated with the Company's investment portfolio, adequacy of reserves, levels and pricing of new and renewal business achieved, changes in accounting policies, risks associated with implementing business strategies, and other factors identified in the Company's filings with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking information contained herein, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. The Company disclaims any obligation to publicly update or revise any forward-looking information or statements.
Investor: Robin Sidders
Media: Celia Powell
Sard Verbinnen & Co
Drew Brown/Daniel Goldstein
KEYWORDS: United States Bermuda Europe North America Caribbean France New York
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