Bermuda-based reinsurer PartnerRe Ltd. yesterday predicted rosy results for 2004 saying it expected to see its return on equity grow by 17 percent while net premiums could top $3.9 billion.

PartnerRe shared its outlook in a Press statement issued just before its senior executives presented at the 12th annual Bermuda Angle Conference, held Monday and yesterday at the Boca Raton Resort & Club in Boca Raton, Florida.

President and CEO Patrick Thiele said: "Our plan is based upon pricing loss ratios that assume a normalised loss experience, and barring unusual large loss events, the Company expects to achieve an operating return on equity of approximately 17 percent and operating earnings per share of at least $6.90. The company also expects to grow net written premiums to at least $3.9 billion, and achieve a non-life combined ratio of between 92 and 95 percent.

Mr. Thiele continued: "We expect the market to provide attractive opportunities in 2004 and PartnerRe is in an excellent position to capitalise on those opportunities.

"We are confident that given our financial strength, people, diversified global book of business and direct and broker distribution capabilities, we will be able to achieve our plan for 2004."

The Bermuda Angle presentation from Mr. Thiele and PartnerRe's CFO Albert Benchimol, is available by webcast from the Bermuda Angle website at www.bermudaangle.com. It can also be accessed from PartnerRe's website www.partnerre.com on the presentations page of the investor information section, until December 16.