Dividend Restrictions and Statutory Requirements

12 Months Ended

Dec. 31, 2011

Disclosure - Dividend Restrictions and Statutory Requirements [Abstract]

Dividend Restrictions And Statutory Requirements Disclosure [Text Block]

14. Dividend Restrictions and Statutory Requirements

The Company's ability to pay common and preferred shareholders' dividends and its corporate expenses is dependent mainly on cash dividends from PartnerRe Bermuda, PartnerRe Europe and PartnerRe U.S. (collectively, the reinsurance subsidiaries), which are the Company's most significant subsidiaries. The payment of such dividends by the reinsurance subsidiaries to the Company is limited under Bermuda and Irishlaws and certain statutes of various U.S. states in which PartnerRe U.S. is licensed to transact business. The restrictions are generally based on net income and/or certain levels of policyholders' earned surplus as determined in accordance with the relevant statutory accounting practices. At December 31, 2011, there were no significant restrictions on the payment of dividends by the Company's reinsurance subsidiaries that would limit the Company's ability to pay common and preferred shareholders' dividends and its corporate expenses.

The reinsurance subsidiaries are required to file annual statements with insurance regulatory authorities prepared on an accounting basis prescribed or permitted by such authorities (statutory basis), maintain minimum levels of solvency and liquidity and comply with risk-based capital requirements and licensing rules. At December 31, 2011, the reinsurance subsidiaries' solvency, liquidity and risk-based capital amounts were in excess of the minimum levels required. The typical adjustments to insurance statutory basis amounts to convert to U.S. GAAP include elimination of certain statutory reserves, deferral of certain acquisition costs, recognition of goodwill, intangible assets and deferred income taxes, valuation of bonds at fair value and presentation of ceded reinsurance balances gross of assumed balances.

The statutory net (loss) incomeof the Company's reinsurance subsidiaries for the years ended December 31, 2011, 2010 and 2009 was as follows (in millions of U.S. dollars):

		2011
		(unaudited
		estimated)		2010		2009
PartnerRe Bermuda	$	(524)	$	496	$	1,044
PartnerRe Europe		2		198		307
PartnerRe U.S.		106		147		89

The following table summarizes the statutory shareholders' equity of the Company's reinsurance subsidiaries atDecember 31, 2011 and 2010 (in millions of U.S. dollars):

		2011
		(unaudited
		estimated)		2010
PartnerRe Bermuda	$	3,428	$	3,099
PartnerRe Europe		1,234		1,430
PartnerRe U.S.		1,174		1,197

At December 31, 2011 and 2010, the Company has Swiss and French operations that are branches of PartnerRe Europe and are regulated by the Central Bank of Ireland, as prescribed by the EU Reinsurance Directive.