Bermuda-based reinsurer PartnerRe Ltd today announced that its board of directors has approved a new share repurchase authorisation of up to seven million common shares, effective immediately. This replaces the prior authorisation of seven million common shares announced by the company in September 2010. To date in 2010, the company has repurchased 13.9 million common shares.From time to time, and depending on market conditions, the company will continue the repurchase programme in open market or privately negotiated or structured transactions.