PartnerRe Ltd. last night announced that it had repurchased 1.44 million of its common shares for around $108.1 million.

The shares, totalling approximately 1.7 percent of total common shares outstanding, were purchased at a price per share of $75.14 from certain former shareholders of Paris Re, the Swiss company acquired by PartnerRe last year.

Those shareholders were issued PartnerRe stock through the merger and are parties to investor agreements with PartnerRe.

The repurchase was carried out under the company's current authorisation of up to five million shares, which was approved by the board of directors in September 2008.