PROXY STATEMENT

Wellesley House South

90 Pitts Bay Road

Pembroke HM 08, Bermuda

ANNUAL GENERAL MEETING — May 10, 2007

To the Shareholders of PartnerRe Ltd.:

You are cordially invited to attend the Annual General Meeting of your company to be held at 2:30 p.m. local time on Thursday, May 10, 2007 at 5 ^th Floor, Wellesley House South, 90 Pitts Bay Road, Pembroke, Bermuda.

A report on the current affairs of PartnerRe Ltd. will be presented at the Annual General Meeting and shareholders will have an opportunity for questions and comments.

It is earnestly requested that you complete, sign, date and mail the enclosed form of proxy in the enclosed business reply envelope or vote electronically via the internet or telephone, whether or not you plan to attend the Annual General Meeting. See “General Information About the 2007 Annual General Meeting of Shareholders” in the Proxy Statement for more details.

Prompt return of your form of proxy will reduce the cost of further mailings and other follow-up work. You may revoke your voted proxy at any time prior to the Annual General Meeting or vote in person if you attend.

We are grateful for your assistance and express our appreciation in advance.

Sincerely yours,

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Wellesley House South

90 Pitts Bay Road

Pembroke HM 08, Bermuda