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Other Expenses
12 Months Ended
Dec. 31, 2015
Other Expenses [Abstract]  
Other Income and Other Expense Disclosure [Text Block]
22. Other Expenses
(a) Transaction Related Charges
On August 3, 2015, in connection with the execution of the Merger Agreement with EXOR, the Company and AXIS terminated the Amalgamation Agreement. The Company paid AXIS a termination fee and reimbursement of expenses of $315 million which is included within Other expenses in the Consolidated Statements of Operations for the year ended December 31, 2015.
During the year ended December 31, 2015, the Company recorded $63 million of other transaction costs related to professional fees and severance costs associated with the Amalgamation Agreement with AXIS and Merger Agreement with EXOR within Other expenses in the Consolidated Statements of Operations.
(b) Restructuring Charges
In April 2013, the Company announced the restructuring of its business support operations into a single integrated worldwide support platform and changes to the structure of its Global Non-life Operations. The restructuring included involuntary and voluntary employee termination plans in certain jurisdictions (collectively, termination plans) and certain real estate costs. Employees affected by the termination plans had varying leaving dates by December 31, 2015.
During the years ended December 31, 2014, and 2013, the Company recorded a pre-tax charge of $11 million and $58 million, respectively, related to the costs of the restructuring, which was primarily related to the termination plans and certain real estate costs, within Other expenses. The continuing salary and other employment benefit costs related to the affected employees were expensed as the employee remained with the Company and provided service.
(c) Other Charges
On April 17, 2015, PartnerRe U.S. Corporation, a subsidiary of the Company, agreed a negotiated earn-out consideration to be paid to the former shareholders of Presidio Reinsurance Group, Inc. in the amount of $29 million pursuant to an earn-out agreement dated December 31, 2012 (Earn-out Agreement). The Company previously accrued $4 million in connection with the Earn-out Agreement through December 31, 2014, and the remaining $25 million, pre-tax, was recorded in Other expenses in the Consolidated Statements of Operations for the year ended December 31, 2015.