BNET Industries
Market Cap:$6.1B
Last Fiscal Year Sales:$4.2B
- Public
- BM
Dow Jones Description
Catastrophe, Property, Agriculture, Automobile, Marine, Space & Aviation, Credit & Surety, Miscellaneous Casualty Lines & Life & Health Insurance Services
President & CEO
Patrick A. ThieleNumber of Employees 995
Peer Companies
NAICS Code Direct Life Insurance Carriers: 524113
Recent Events
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PartnerRe Rebounds; Posts $566.7 Million Q3 Net; $1.2 Billion 9 Months
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UPDATE 2-PartnerRe Q3 operating profit beats estimates
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RBC Capital Markets Corp maintains PartnerRe at 'outperform'
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Fitch Affirms PartnerRe's Ratings Following Block Purchase of PARIS RE Shares; Outlook to Negative
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PartnerRe appoints former XL chairman to board, completes block purchase of PARIS RE shares
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PartnerRe, PARIS RE amend deal structure
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Wells Fargo Upgrades PartnerRe Ltd. PRE to Outperform; Strong Position Within Reinsurance Market
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UPDATE 1-Wells Fargo downgrades AIG to underperform
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Paris Re Shareholders Clear Path for Merger With PartnerRe
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PartnerRe Reports Q2, 1H Results
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Zwiener Joins PartnerRe Board
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PartnerRe Agrees To Acquire Rival Paris Re In $2 Bln All-stock Deal - Update
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PartnerRe to Buy Paris Re
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2. PartnerRe Ltd. To Acquire PARIS RE.
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PartnerRe to acquire Swiss rival in US$2b deal
News & Analysis
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partnerre ltd. - All News and Analysis
PartnerRe Ltd. Completes Tender Offer of 6.44% Junior Subordinated Capital Efficient Notes due 2066; Purchases Approximately 75% of the Issue
PEMBROKE, Bermuda -- PartnerRe Ltd. (NYSE:PRE) today announced the completion of its previously announced cash tender offer to purchase any and all of its ...
PartnerRe Ltd. to Present at Annual AIFA Conference in Scottsdale, Arizona
PEMBROKE, Bermuda -- PartnerRe Ltd. (NYSE:PRE) today announced that President & Chief Executive Officer Patrick Thiele and Group Finance Director William Babcock are scheduled...
PartnerRe Ltd. Announces Tender Offer for Its 6.44% Junior Subordinated Capital Efficient Notes Due 2066
PEMBROKE, Bermuda -- PartnerRe Ltd. today announced the commencement of a cash tender offer for any and all of the 6.44% Fixed-to Floating Rate Junior Subordinated ...
PartnerRe Ltd. to Present at Annual AIFA Conference in Scottsdale, Arizona
PEMBROKE, Bermuda -- PartnerRe Ltd. (NYSE:PRE) today announced that President & Chief Executive Officer Patrick Thiele and Group Finance Director William Babcock are scheduled...
PartnerRe Ltd. President & CEO Patrick Thiele to Speak at the Merrill Lynch 2009 Insurance Investor Conference
PEMBROKE, Bermuda -- PartnerRe Ltd. (NYSE:PRE) today announced that President & Chief Executive Officer Patrick Thiele is scheduled to speak at the Merrill Lynch 2009 Insurance Investor Conference at Merrill Lynch Headquarters in New York City on Tuesday, February 24, at approximately 1:10 p.m. Eastern Standard Time. A live...
PartnerRe Declares Dividends on Series C Cumulative Redeemable Preferred Shares and Series D Cumulative Redeemable Preferred Shares
PEMBROKE, Bermuda -- PartnerRe Ltd. (NYSE: PRE) announced that its Board of Directors has declared a dividend for the period December 1, 2008 - February 28, 2009 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...
PartnerRe Ltd. Reports Fourth Quarter and Full Year 2008 Results
PEMBROKE, Bermuda -- PartnerRe Ltd. (NYSE:PRE) * Fourth Quarter Operating Earnings per share of $0.95; Net Income per share of $1.53 * Fourth Quarter Annualized Operating ROE of 5.7%; Annualized Net Income ROE of 9.1% * Full Year Operating Earnings per share of $8.43; Net Income per...
PartnerRe Ltd. Increases Common Share Dividend by 2% to $1.88
PEMBROKE, Bermuda -- Second graph, first sentence of release should read: Today, the Board declared a regular quarterly dividend of $0.47 per common share (sted $0.01 per common share). The corrected release reads: PARTNERRE LTD. INCREASES COMMON SHARE DIVIDEND BY 2% TO $1.88 PartnerRe Ltd. (NYSE:PRE) today...
PartnerRe Ltd. Provides Update on January 2009 Non-Life Renewals
PEMBROKE, Bermuda -- PartnerRe Ltd. (NYSE:PRE) today announced that during the January 1 renewal season it expects to write and bind approximately $2.1 billion of Non-Life premium. The Non-Life renewal does not include PartnerRe's Life operations as that renewal is distributed evenly throughout the year. Approximately 60-65 percent of the...
A.M. Best Affirms Ratings of PartnerRe Group, Its Members and PartnerRe Ltd
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating FSR of A+ Superior and issuer credit ratings of "aa-" of PartnerRe Group PartnerRe (Hamilton, Bermuda) and its members. Concurrently, A.M. Best has affirmed the ICR of "a-" and debt ratings of PartnerRe's parent, PartnerRe Ltd. (Hamilton, Bermuda)...
Decision Makers
| Name (plus bio) | Position |
|---|---|
| Patrick A. Thiele | President & CEO |
| Albert A. Benchimol | Executive Vice President and Chief Financial Officer |
| Laurie A. Desmet | Chief Accounting Officer |
| Mike Mitchard | CIO |
| Jean-Paul Montupet | Director of the Company |
| William Babcock | Group Director, Finance |
| Alain Flandrin | Head, Property & Casualty, Global |
| Emmanuel Clarke | Head, Specialty Lines, Global |
| Scott D Moore | |
| Jan H. Holsboer | Director |
| Kevin M. Twomey | Director |
| Robert M. Baylis | Director |
| Vito H. Baumgartner | Member |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Judith Hanratty | Chairman |
| David K. Zwiener | Board of Directors |
| Jurgen Zech | Board of Directors |
| Lucio Stanca | Board of Directors |
| Remy Sautter | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Partner Reinsurance Company Ltd. | President & CEO | Current |
| PartnerRe Ltd. | President & CEO | Current |
| PartnerRe Ltd. | Board of Directors | Current |
| Wenger Corporation | Board of Directors | Current |
| University of Wisconsin-Madison | Chartered Financial Analyst | Former |
| Norwich Union | Former | |
| University of Wisconsin | B.S. In Finance and An Mba | Former |
Albert Benchimol is a member of the PartnerRe Group Executive Committee and is the Company's Chief Financial Officer. Based in Bermuda, Albert is responsible for all aspects of the Company's global financial operations, including financial reporting and control, treasury, actuarial, tax planning and capital management, as well as investor and rating agency relations. Albert also manages our investment and asset management and Alternative Risk Transfer (ART) units. Albert joined PartnerRe as Chief Financial Officer in April 2000. Prior to that, he spent 11 years working for Reliance Group Holdings Inc., most recently as Senior Vice President and Treasurer and a member of the senior management team. He spent seven years in corporate banking before joining the insurance industry. Albert has a B.Sc. and an MBA from McGill University and is fluent in French and English.
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Executive Vice President and Chief Financial Officer | Current |
| Partner Reinsurance Company Ltd. | Cfo & Executive Vice President | Former |
| McGill University | Mba | Former |
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Chief Accounting Officer | Current |
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | CIO | Current |
| Organization | Position | Status |
|---|---|---|
| Emerson Electric Co. | Executive Vice President | Current |
| PartnerRe Ltd. | Director of the Company | Current |
| PartnerRe Ltd. | Board of Directors | Current |
| National Electrical Manufacturers Association | Board of Directors | Current |
| Lexmark International, Inc. | Director | Current |
| Lexmark International Middle East Fz LLC | Director | Current |
| Lexmark International, Inc. | Compensation & Pension Committee Member | Current |
| Emerson Electric Co. | President, Eueope | Former |
| National Electrical Manufacturers Association | Executive Vice President | Former |
| Moteurs Leroy-Somer S.A. | Chairman and Director | Former |
| Emerson Electric Co. | Advisory Director | Former |
| Emerson Electric Co. | Chairman, North American Operations | Former |
| Emerson Electric Co. | Board of Directors | Former |
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Group Director, Finance | Current |
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Head, Property & Casualty, Global | Current |
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Head, Specialty Lines, Global | Current |
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Current | |
| PricewaterhouseCoopers | Former |
| Organization | Position | Status |
|---|---|---|
| The British Standards Institution | Chairman | Current |
| PartnerRe Ltd. | Chairman | Current |
| PartnerRe Ltd. | Board of Directors | Current |
| Charles Taylor Consulting Plc | Board of Directors | Current |
| BP plc | Board of Directors | Former |
| The British Standards Institution | Board of Directors | Former |
| Competition Commission | Board of Directors | Former |
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Board of Directors | Current |
| The Hartford Financial Services Group, Inc. | President & Chief Operating Officer, Property and Casualty Operations | Former |
| The Hartford Financial Services Group, Inc. | Executive Vice President & CFO | Former |
| Mellon Bank, N.A. | Senior Financial Management | Former |
| Ford Motor Company | Senior Financial Management | Former |
| Kimberly Clark Credit Union | Senior Financial Management | Former |
| The Hartford Financial Services Group, Inc. | Board of Directors | Former |
| Duke University | Fuqua Board of Visitors | Former |
| Northwestern University | MBA, Finance and Marketing | Former |
| Duke University | Bachelor's Degree | Former |
Jan H. Holsboer has served as a director since May 2000 and is a member of the Company's Audit Committee and the Nominating & Governance Committee. Mr. Holsboer was a member of the Executive Board of ING/Nationale-Nederlanden and was primarily responsible for its International Operations from 1990 to 1999. From 1997 to 1999, Mr. Holsboer was Chairman of the Executive Committee Financial Services International of ING Group with oversight of all its insurance, retail bank and asset management products outside the Benelux, including all of ING's reinsurance activities. During this period, Mr. Holsboer was also a member of the Executive Board of ING Bank. Mr. Holsboer was a Board member of the International Insurance Society from 1994 to 1999 and has been a member of the Geneva Association since 1986. Mr. Holsboer served as President of the Association from 1993 to 1999, as Honorary President from 2000 and was Co-Chairman of the Geneva Association Task Force on International Accounting Standards from 2003 to 2005. Mr. Holsboer is an Executive Board Member of Univar N.V., and a supervisory director of Atradius N.V., TD Waterhouse Bank N.V., and Yura International/Vittoria Capital Holding BV. Mr. Holsboer also serves as Chairman of the Board for both Stichting Vie d'Or and Vereniging Pro Senectute. Mr. Holsboer is Vice Chairman of the Amsterdam Institute of Finance.
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Director | Current |
| Univar N.V. | Board of Directors | Current |
| Univar N.V. | Member, Mgmt Bd | Current |
| PartnerRe Ltd. | Member | Former |
| International Insurance Society, Inc | Board Member | Former |
Jürgen Zech has served as a director since August 2002 and is a member of the Company's Audit Committee, Human Resources Committee, and Compensation Committee. At the end of 2001, Dr. Zech retired as Chairman of the Board of Management of the insurance group Gerling-Konzern Versicherungs-Beteiligungs-AG, a post he assumed in 1996, having previously served as Vice Chairman since 1993. From 1986, Dr. Zech was employed by the reinsurance group Kölnische Rückversicherungs-Gesellschaft AG, Cologne, where he served as Chairman of the Board of Executive Directors from 1987 to 1992 and as Vice Chairman of their subsidiary, Cologne Re. Prior to joining Kölnische Rückversicherungs-Gesellschaft AG, Dr. Zech was with Colonia Versicherung AG, Cologne, where he served as a member of the Board of Executive Directors from 1975 to 1985. Dr. Zech has retired from the board of directors of Sauerborn Trust AG, Barclays plc, Barclays Bank plc, ATIS-REAL SA, Adyal SA and Oviesse GmbH. Dr. Zech serves as a non-executive director for Misys plc. Dr. Zech is chairman of Denkwerk GmbH and is also on the Board of Directors of Seeburger AG and Quarzwerk GmbH. Dr. Zech holds a Doctorate in Business Economics from the University of Cologne, an MBA from INSEAD, and is Chairman of the Cultural Initiative of German Industry (BDJ).
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Board of Directors | Current |
Mr. Twomey was president of The St. Joe Company from 1999 until his retirement in 2006. He is currently a director and chairman of the audit committee of PartnerRe (NYSE: PRE), an international reinsurance company. He is a director of Prime Property Fund LLC, a privately held company organized as a REIT and managed on behalf of investors by Morgan Stanley. He previously served as a director of Doral Financial Corporation (NYSE: DRL) from 2007 2009, of Novelis from 2006 2007, and of Intergraph Corporation from 2004 2006. Prior to joining The St. Joe Company, Mr. Twomey was vice chairman of the board of directors and chief financial officer of H.F. Ahmanson & Company and its principal subsidiary, Home Savings of America. Prior to joining Ahmanson in 1993, he was chief financial officer at First Gibraltar Bank, a company owned by MacAndrews & Forbes Holdings. He serves on the board of trustees of the University of North Florida and is the chairman of the board trustees of the United Way of Northeast Florida. He holds master s degrees from Duke University and The George Washington University and a bachelor s degree from the University of Virginia.
| Organization | Position | Status |
|---|---|---|
| Acxiom Corporation | Chairman | Current |
| PartnerRe Ltd. | Chairman | Current |
| Doral Financial Corporation | Chairman | Current |
| Chinaloop | Board of Directors | Current |
| Intergraph Corporation | Board of Directors | Current |
| University of North Florida | Board of Directors | Current |
| PartnerRe Ltd. | Director | Current |
| St. Joe Company | President | Former |
| Twomey Company | CFO | Former |
| Ahmanson & Co | Former | |
| Acxiom Corporation | Board of Directors | Former |
| Doral Financial Corporation | Director | Former |
| Duke University | MBA | Former |
| The George Washington University | Masters Degrees | Former |
| University of Virginia | bachelor's degree | Former |
| The George Washington University | MSA degree | Former |
| Intergraph Corporation | member | Former |
| PartnerRe Ltd. | member | Former |
1998 until January 2005. After a period of service as a cabinet member of the Italian government, Mr. Stanca re-joined the PartnerRe Board in September 2006, and is now a member of the Company's Nominating & Governance Committee and Finance & Risk Management Committee. In July 2001, Mr. Stanca was appointed as Minister of Innovation and Technology in the Italian Government. From 1994 until his retirement from IBM in 2001, Mr. Stanca was Executive Chairman of IBM EMEA (Europe, Middle East, and Africa), and was Chairman and Chief Executive Officer of IBM SEMEA (South Europe, Middle East, and Africa) from 1991 until 1994. Mr. Stanca worked with IBM in both Europe and the U.S. from 1968. Mr. Stanca is a Director of the Board of the Bocconi University and is Vice President of the Aspen Institute Italia.
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Board of Directors | Current |
Rémy Sautter has served as a director of the Company since November 2001, is Vice Chairman of the Company's Audit Committee, and is a member of the Company's Nominating & Governance Committee. From 1996 to 2000, Mr. Sautter was President and Chief Executive Officer of CLT-UFA Group. From 1985 to 1996, Mr. Sautter was Vice Chairman and Managing Director of RTL Radio, France and in 1989 he was appointed as Managing Director in charge of CLT radio activities. Mr. Sautter is Chairman of the Board for RTL Radio, France and Vice-Chairman of the Board for Channel 5, UK. Mr. Sautter also serves as a non-executive director of M6 Television (Paris), Pages Jaunes (Paris), and Taylor Nelson Sofres plc. (London), as a non-voting director of Thompson Multimédia P.L.C., and is Operating Partner of Duke Street Capital (London).
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Board of Directors | Current |
Robert M. Baylis has served as a director since May 2000 and is the Chairman of the Company's Finance & Risk Management Committee and a member of the Company's Nominating & Governance Committee. Mr. Baylis was Vice Chairman of CS First Boston, a position he held until 1996, and prior to his retirement was Chairman and Chief Executive Officer of CS First Boston Pacific Inc. Mr. Baylis is a director of New York Life Insurance Company, Host Marriott Corporation, Covance, Inc., and is Chairman of the Board for Gildan Activewear, Inc. He is an overseer of the University of Pennsylvania Museum and a Trustee of the Rubin Museum of Art. Mr. Baylis is a member of the Advisory Council of the Economics Department of Princeton University and is a Chartered Financial Analyst.
| Organization | Position | Status |
|---|---|---|
| Princeton University | Member Economics Department | Current |
| Darien Rowayton Bank | Current | |
| Gildan Activewear, Inc. | Chairman of the Board | Current |
| The International Forum | Director | Current |
| Rubin Museum of Art | Board of Directors | Current |
| New York Life Insurance Company | Board of Directors | Current |
| Covance, Inc. | Director | Current |
| Host Hotels & Resorts, Inc. | Director | Current |
| PartnerRe Ltd. | Director | Current |
| PartnerRe Ltd. | Member | Current |
| PartnerRe Ltd. | Chairman of the Company's Finance & Risk Management Committee | Former |
| Credit Suisse | Vice Chairman | Former |
| CS First Boston, Inc. | Vice Chairman | Former |
| National Council YMCA of the USA | Board of Directors | Former |
Vito H. Baumgartner was appointed to the Board in November 2003 and is a member of the Company's Audit Committee, Human Resources Committee and Compensation Committee. Mr. Baumgartner serves as Vice Chairman to both the Human Resources Committee and Compensation Committee. Until he retired in January 2004, Mr. Baumgartner was a Group President and Executive Office member of Caterpillar Inc., a leading manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Mr. Baumgartner is a Director of AB SKF, Inc. (Sweden), Scania AB (Sweden) and Northern Trust Global Services Ltd. (UK).
| Organization | Position | Status |
|---|---|---|
| PartnerRe Ltd. | Member | Current |
| PartnerRe Ltd. | Vice Chairman of the Company's Human Resources Committee, and Compensation Committee | Current |
| Caterpillar, Inc. | Former |
Executive News
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2. PartnerRe Ltd. To Acquire PARIS RE.
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Zwiener Joins PartnerRe Board
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David Zwiener Appointed to PartnerRe`s Board of Directors
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PartnerRe Ltd. Appoints David Zwiener To Board - Quick Facts
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David Zwiener Appointed to PartnerRes Board of Directors
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PartnerRe to acquire Swiss rival in US$2b deal
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PartnerRe Ltd. übernimmt PARIS RE
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PartnerRe to Buy Paris Re
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PartnerRe Agrees To Acquire Rival Paris Re In $2 Bln All-stock Deal - Update
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PartnerRe to Acquire Paris Re in $2 Billion Deal
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PartnerRe to acquire Paris Re in $2 billion deal
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Reinsurer PartnerRe to acquire smaller rival Paris Re in cash, stock deal worth $2 billion
| Volume | 530,662 |
| Shares Outstanding | 79.6M |
| Market Cap | 6.1B |
| Year High | 81.71 |
| Year Low | 53.92 |
| Earnings Per Share | 21.39 |
| P/E Ratio | 3.6124 |
| Dividend | 1.88 |
| Yield | 2.4330 |
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