PartnerRe Ltd. yesterday announced the appointment of Costas Miranthis to the position of Chief Actuarial Officer.

Mr. Miranthis will have overall responsibility for the company's actuarial function and risk management, including oversight of the Company's reserve setting and capital allocation processes. He will be based in Bermuda and report to Albert Benchimol, Executive Vice President and Chief Financial Officer.

Mr. Miranthis holds a MA in Economics from Christ's College, Cambridge University, UK. He is a Fellow of the Institute of Actuaries and a Member of the American Academy of Actuaries.

Since 1997, he has been a principal with the leading international actuarial consulting firm, Tillinghast-Towers Perrin in London, UK, where his responsibilities have included managing the European non-life business, and its mergers and acquisitions practice in Europe.

"Costas' extensive experience and his international business orientation make him a natural fit with PartnerRe's global reinsurance franchise," said Patrick Thiele, President & Chief Executive Officer. "We look forward to Costas making significant contributions to our enterprise risk management and capital allocation functions, and to ensure the continued strength of our balance sheet."

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies through its wholly owned subsidiaries, Partner Reinsurance Company, PartnerRe US and PartnerRe S.A. Risks reinsured include property, catastrophe, agriculture, motor, casualty, marine, aviation/space, credit/surety, technical and miscellaneous lines, life/annuity and health. As of March 31, 2002, total assets were $7.6 billion, total capitalisation was $2.4 billion and total shareholders' equity was $1.8 billion.