SCHEDULE II - Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2011

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Financial Information Of Parent Company Only Disclosure [Text Block]

SCHEDULE II

PartnerRe Ltd.

Condensed Balance Sheets—Parent Company Only

(Expressed in thousands of U.S. dollars, except parenthetical share and per share data)

		December 31,		December 31,
		2011		2010
Assets
Fixed maturities, trading securities, at fair value (amortized cost: 2011, $178,674; 2010, $10,356)		$	181,117	$	10,337
Short-term investments, trading securities, at fair value (amortized cost: 2011, $8,463; 2010, $Nil)			8,467		—
Cash and cash equivalents, at fair value, which approximates amortized cost			51,729		329,054
Investments in subsidiaries			7,693,969		7,576,571
Intercompany loans and balances receivable			350,265		442,290
Other			10,066		13,069
Total assets		$	8,295,613	$	8,371,321
Liabilities
Intercompany loans and balances payable (1)		$	1,815,049	$	1,131,463
Accounts payable, accrued expenses and other			13,022		32,939
Total liabilities			1,828,071		1,164,402
Shareholders’ Equity
Common shares (par value $1.00, issued: 2011, 84,766,693 shares; 2010, 84,033,089 shares)			84,767		84,033
Preferred shares (par value $1.00, issued and outstanding: 2011, 35,750,000 shares,
	2010, 20,800,000 shares; aggregate liquidation value: 2011, $893,750; 2010, $520,000)		35,750		20,800
Additional paid-in capital			3,803,796		3,419,864
Accumulated other comprehensive (loss) income:
	Currency translation adjustment		4,267		16,101
	Other accumulated comprehensive loss, net of tax		(16,911)		(12,045)
Retained earnings			4,035,103		4,761,178
Common shares held in treasury, at cost (2011, 19,444,365 shares; 2010, 14,046,895 shares)			(1,479,230)		(1,083,012)
Total shareholders’ equity			6,467,542		7,206,919
Total liabilities and shareholders’ equity		$	8,295,613	$	8,371,321

(1)       The Company has fully and unconditionally guaranteed on a subordinated basis all obligations of PartnerRe Finance II Inc., an indirect wholly-owned finance subsidiary of the Company, related to the remaining $63.4 million aggregate principal amount of 6.440% Fixed-to-Floating Rate Junior Subordinated Capital Efficient Notes (CENts). The Company's obligations under this guarantee are unsecured and rank junior in priority of payments to the Company's Senior Notes.

The Company has fully and unconditionally guaranteed all obligations of PartnerRe Finance A and PartnerRe Finance B, indirect wholly-owned finance subsidiaries of the Company, related to the issuance of $250 million aggregate principal amount of 6.875% Senior Notes and $500 million aggregate principal amount of 5.500% Senior Notes. The Company's obligations under these guarantees are senior and unsecured and rank equally with all other senior unsecured indebtedness of the Company.

SCHEDULE II

PartnerRe Ltd.

Condensed Statements of Operations—Parent Company Only

(Expressed in thousands of U.S. dollars)

	For the year		For the year		For the year
	ended		ended		ended
	December 31,		December 31,		December 31,
	2011		2010		2009
Revenues
Net investment income (loss)	$	2,452	$	1,745	$	(375)
Net realized and unrealized investment gains (losses)		5,499		(3,884)		18,582
Total revenues		7,951		(2,139)		18,207
Expenses
Other operating expenses		76,690		92,361		103,293
Interest expense on intercompany loans		739		5,609		6,425
Interest expense		—		301		3,919
Net foreign exchange (gains) losses		(9,540)		17,244		4,517
Total expenses		67,889		115,515		118,154
Loss before equity in net (loss) income of subsidiaries		(59,938)		(117,654)		(99,947)
Equity in net (loss) income of subsidiaries		(460,353)		970,206		1,636,801
Net (loss) income	$	(520,291)	$	852,552	$	1,536,854

SCHEDULE II

PartnerRe Ltd.

Condensed Statements of Cash Flows—Parent Company Only

(Expressed in thousands of U.S. dollars)

		For the year		For the year		For the year
		ended		ended		ended
		December 31,		December 31,		December 31,
		2011		2010		2009
Cash flows from operating activities
Net (loss) income		$	(520,291)	$	852,552	$	1,536,854
Adjustments to reconcile net (loss) income to net cash used
	in operating activities:
Equity in net loss (income) of subsidiaries			460,353		(970,206)		(1,636,801)
Other, net			7,663		36,388		8,203
Net cash used in operating activities			(52,275)		(81,266)		(91,744)
Cash flows from investing activities
Sales and redemptions of fixed maturities			446,452		698,393		—
Sales and redemptions of short-term investments			154,473		69,489		—
Purchases of short-term investments			(99,955)		—		—
Advances to/from subsidiaries, net			3,511		697,019		508,213
Net issue of intercompany loans receivable and payable			379,676		380,771		—
Investments in subsidiaries			(860,000)		—		(175,111)
Other, net			2,408		(4,283)		(2,851)
Foreign exchange forward contracts			(6,750)		3,528		(71,303)
Net cash provided by investing activities			19,815		1,844,917		258,948
Cash flows from financing activities
Cash dividends paid to shareholders			(205,784)		(192,156)		(151,851)
Repurchase of common shares			(413,737)		(1,065,121)		—
Net proceeds from issuance of preferred shares			361,722		—		—
Issuance of common shares			16,041		37,682		16,034
Repayment of debt			—		(200,000)		(200,000)
Contract fees on forward sale agreement			—		(2,638)		(5,070)
Net cash used in financing activities			(241,758)		(1,422,233)		(340,887)
Effect of foreign exchange rate changes on cash			(3,107)		(15,867)		(1,342)
(Decrease) increase in cash and cash equivalents			(277,325)		325,551		(175,025)
Cash and cash equivalents—beginning of year			329,054		3,503		178,528
Cash and cash equivalents—end of year		$	51,729	$	329,054	$	3,503
Supplemental cash flow information:
Interest paid		$	743	$	1,680	$	14,362

(1)       The Company received non-cash dividends from its subsidiaries of $274 million, $500 million and $600 million for the years ended December 31, 2011, 2010 and 2009, respectively, which have been excluded from the Condensed Statements of Cash Flows—Parent Company Only.

(2)       During 2010, the Company sold a wholly-owned subsidiary to another wholly-owned subsidiary and received fixed maturities and short-term investments as partial settlement of certain intercompany loans receivable. These non-cash transactions have been excluded from the Condensed Statements of Cash Flows—Parent Company Only.

(3)       The acquisition of assets and liabilities as part of the Paris Re acquisition in 2009 involved non-cash share for share transactions which have been excluded from the Condensed Statements of Cash Flows—Parent Company Only.