-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 G0tVt7S9BsSUQhPCA/aLk44t0hubhwfh4YS/5C+v2tInyM84poHvwjI4I+8JFV/v
 5w8Rvg2R3musMAOazl1xMg==

<SEC-DOCUMENT>0001181431-08-034534.txt : 20080527
<SEC-HEADER>0001181431-08-034534.hdr.sgml : 20080526
<ACCEPTANCE-DATETIME>20080527133521
ACCESSION NUMBER:		0001181431-08-034534
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080523
FILED AS OF DATE:		20080527
DATE AS OF CHANGE:		20080527

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PARTNERRE LTD
		CENTRAL INDEX KEY:			0000911421
		STANDARD INDUSTRIAL CLASSIFICATION:	ACCIDENT & HEALTH INSURANCE [6321]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		WELLESLEY HOUSE SOUTH
		STREET 2:		90 PITTS BAY ROAD
		CITY:			PEMBROKE
		STATE:			D0
		ZIP:			HM 08
		BUSINESS PHONE:		14412920888

	MAIL ADDRESS:	
		STREET 1:		WELLESLEY HOUSE SOUTH
		STREET 2:		90 PITTS BAY ROAD
		CITY:			PEMBROKE
		STATE:			D0
		ZIP:			HM 08

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PARTNER RE HOLDINGS LTD
		DATE OF NAME CHANGE:	19950725

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BENCHIMOL ALBERT
		CENTRAL INDEX KEY:			0001185870

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14536
		FILM NUMBER:		08860174

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		4412945123

	MAIL ADDRESS:	
		STREET 1:		PARTNERRE LTD
		STREET 2:		WELLESLEY HOUSE90 PITTS BAY RD
		CITY:			PEMBROKE BERMUDA
		STATE:			D0
		ZIP:			HM 08
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd208299.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-05-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000911421</issuerCik>
        <issuerName>PARTNERRE LTD</issuerName>
        <issuerTradingSymbol>PRE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001185870</rptOwnerCik>
            <rptOwnerName>BENCHIMOL ALBERT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>WELLESLEY HOUSE</rptOwnerStreet1>
            <rptOwnerStreet2>90 PITTS BAY ROAD</rptOwnerStreet2>
            <rptOwnerCity>PEMBROKE</rptOwnerCity>
            <rptOwnerState>D0</rptOwnerState>
            <rptOwnerZipCode>HM 08</rptOwnerZipCode>
            <rptOwnerStateDescription>BERMUDA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Share-Settled Share Appreciation Rights</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>73.66</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-05-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>73.66</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2009-05-23</value>
            </exerciseDate>
            <expirationDate>
                <value>2018-05-23</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Share-Settled Share Appreciation Rights (SARs) will vest 33% on the first and second anniversary of the date of grant and 34% on the third anniversary of the date of grant and will be settled in shares.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Marc Wetherhill as Attorney-in-Fact  For:  Albert Benchimol</signatureName>
        <signatureDate>2008-05-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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