PEMBROKE, BERMUDA - PartnerRe Ltd. yesterday announced that Mr. Jean-Marie Nessi has been appointed Head of the Property & Casualty business unit for PartnerRe Global.

Mr. Nessi will be responsible for all of the Group's Global (non-US) general property and casualty business, reporting to Bruno Meyenhofer, CEO of PartnerRe Global.

Mr. Nessi succeeds Graham Dimmock, who has been appointed as Executive for Client Relations, PartnerRe Global, and will be responsible for managing and strengthening the Group's client relationships and market positioning outside the US.

A Fellow of the French Actuarial Society, Mr. Nessi has more than 28 years of experience in the insurance and reinsurance business. Mr. Nessi joins PartnerRe from Axa Corporate Solutions, where he most recently held the position of President and CEO, and previously Axa Re. PartnerRe Ltd.

President and CEO, Patrick Thiele said, "We are very pleased to welcome Jean-Marie to our management team.

His broad experience in the property and casualty reinsurance business will be a substantial asset to our Global operations."

Mr. Thiele continued, "Graham has had a significant role in the Group's success since he joined PartnerRe in 1996 and has been effective in transitioning the Global Property and Casualty team to the business unit structure in the last year." CEO, PartnerRe Global, Bruno Meyenhofer added, "I am confident that Jean-Marie will ensure we maintain and strengthen our leading position in the important property and casualty business, as we embrace the current robust business environment, while Graham's excellent client relations skills will be essential in enhancing the associations we have with our clients."

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies.

Risks reinsured include property, catastrophe, agriculture, motor, casualty, marine, aviation/space, credit/surety, engineering/energy, technical and miscellaneous lines, life/annuity and health.

In 2001 total revenues were $1.9 billion. As of September 30, 2002, total assets were $8.2 billion, total capitalisation was $2.5 billion and total shareholders' equity was $1.9 billion.