has announced a dividend of 10 cents per common share will be payable on March 1, 1994 to common shareholders on February 15, 1994.

The company began operating on November 4.

Mr. Herbert Haag, president and chief executive officer of Partner Re Holdings, said: "Our expectations of a major interest in Partner Reinsurance Company as a catastrophe reinsurer with a strong financial position have been fully confirmed by the level of 1994 catastrophe submissions received to date from insurers and brokers all over the world.'' Partner Re has quoted on excess of loss business in more than 30 countries since it began operations last November, said Mr. Haag.

"In many instances, Partner Re is leading the reinsurance programme, and has provided much needed catastrophe capacity, in particular against natural disasters,'' he said.

In a prospectus relating to Partner Re's initial public offering held last year, the company stated that the company planned to have "greater influence in negotiation of reinsurance terms, attachment points and premiums rates than following reinsurers''.

"Premium writings for Partner Re as at January 1, 1994, have correspondingly met expectations, with premiums on contracts bound to date approximately $85 million.

"Partner Re has sufficient remaining capacity to respond to programmes to be place for the balance of 1994,'' said Mr. Haag.

On the staff at Partner Re are Mr. Heinz Vollenweider, senior vice president and chief underwriting officer, Mr. Willi Schurch, and Mr. Michael Ansermet, senior underwriters, formerly with Swiss Re, and Mr. Scott Moore, senior vice president and chief financial officer.

Mr. Moore was previously chief financial officer at Crum & Foster Insurance and Skandia America Corporation, and an insurance industry specialist partner at Cooper & Lybrand.

Partner Re's sponsors were Swiss Re, and New York-based merchant banking firm John Head & Partners, which was formed in 1987 to specialise in the insurance industry.