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PartnerRe forms special purpose vehicle for catastrophe reinsurance

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Alternative Risk Transfer/Captives Catastrophes Partner Re Bermuda More + Less -

PartnerRe Ltd. has formed a Bermuda-based special purpose vehicle to provide it with additional capacity on catastrophe reinsurance treaties.

Pembroke, Bermuda-based PartnerRe said Monday that the facility, Lorenz Re, is capitalized at $75 million and will provide the reinsurer with capacity for a diversified portfolio of catastrophe reinsurance treaties over a multiyear period.

“Lorenz Re allows us to provide additional capacity to a number of our clients while optimizing the deployment of our capital,” said Costas Miranthis, president and CEO of PartnerRe, in a statement. “Investors will benefit from PartnerRe’s 20 years of experience and expertise in the catastrophe market, as well as access to our diversified portfolio of catastrophe risks,” he added.

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