SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Amendment No. 7
Under the Securities Exchange Act of 1934
Information to be included in statements filed
pursuant to Rule 13D-1(A) and Amendments
thereto filed pursuant to Rule 13D-2(A)
PartnerRe Ltd.
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(Name of Issuer)
Common Stock, par value $1.00 per share
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(Title of Class of Securities)
G6852T-105
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(CUSIP Number)
Markus U. Diethelm
Chief Legal Officer and Member of Senior Management
Swiss Reinsurance Company
50/60 Mythenquai
Ch-8022 Zurich, Switzerland
TEL. NO.:
011-41-43-285-2162
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 1, 2002
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D, and
is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule
13d-1(g), check the following box.
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject
class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall
not be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
SCHEDULE 13D
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CUSIP No. G6852T-105 Page 2 of 4 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Swiss Reinsurance Company
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | X |
(b) | |
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Switzerland
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7 SOLE VOTING POWER
NUMBER OF
96,000
SHARES ---------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
14,515,969
OWNED BY ---------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
96,000
REPORTING ---------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
14,515,969
WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,611,969
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions)
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.6%
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14 TYPE OF REPORTING PERSON (See Instructions)
CO
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SCHEDULE 13D
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CUSIP No. G6852T-105 Page 3 of 4 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
European Reinsurance Company of Zurich
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | X |
(b) | |
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Switzerland
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7 SOLE VOTING POWER
NUMBER OF
0
SHARES ----------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
541,772
OWNED BY ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
541,772
WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
541,772
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions)
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
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14 TYPE OF REPORTING PERSON (See Instructions)
CO
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SCHEDULE 13D
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CUSIP No. G6852T-105 Page 4 of 4 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SwissRe Capital Management (Bermuda) Ltd.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | X |
(b) | |
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC, OO
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
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7 SOLE VOTING POWER
NUMBER OF
0
SHARES ---------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
13,974,197
OWNED BY ---------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ---------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
13,974,197
WITH
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,974,197
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions)
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.3%
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14 TYPE OF REPORTING PERSON (See Instructions)
CO
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The item numbers and responses thereto below are in accordance with
the requirements of Schedule 13D.
This Amendment No. 7 to Schedule 13D amends the Schedule 13D, dated
as of June 13, 1997, as amended by Amendment No. 1, dated July 16, 1997,
Amendment No. 2, dated September 10, 1997, Amendment No. 3, dated November
20, 1997, Amendment No. 4, dated January 26, 2000, Amendment No. 5, dated
September 21, 2001 and Amendment No. 6, dated December 26, 2001
(collectively, the "13D"), filed with respect to the shares of common stock,
par value $1.00 per share (the "Common Stock") of PartnerRe Ltd., a Bermuda
company (the "Company").
Item 4. Purpose of the Transaction.
Item 4 of the 13D is hereby amended and supplemented by adding the
following paragraphs before the final paragraph thereof:
"The reporting persons have entered into a stock purchase agreement
with the Company, dated as of November 1, 2002 (the "Stock Purchase
Agreement"). The Stock Purchase Agreement provides that, subject to the
terms and conditions specified therein, the Company will conduct a public
offering of Common Stock pursuant to the S-3 registration statement declared
effective by the Securities and Exchange Commission on December 21, 2001.
The Company will use the proceeds of such offering to repurchase 6 million
shares of Common Stock held by the reporting persons, which number may be
adjusted upward or downward as set forth in the Stock Purchase Agreement.
The purchase price per share will be equal to the public offering price per
share, less underwriting discounts and commissions. The foregoing
description of the Stock Purchase Agreement is not intended to be complete
and is qualified in its entirety by reference to the Stock Purchase
Agreement filed herewith as Exhibit 99.1 and incorporated herein by reference.
Given the positive outlook for the reinsurance market, Swiss
Reinsurance Company believes it can best capitalize on these opportunities
by allocating its capacity directly to its reinsurance business. The
transaction is also in line with Swiss Reinsurance Company's strategy to
reduce its equity exposure."
Item 6. Contracts, Arrangements, Understandings, or Relationships With
Respect to Securities of the Issuer
Item 6 of the 13D is hereby amended and restated by replacing the
final paragraph thereof with the following paragraphs:
"The reporting persons have entered into the Stock Purchase
Agreement with the Company, dated as of November 1, 2002. The Stock Purchase
Agreement provides that, subject to the terms and conditions specified
therein, the Company will conduct a public offering of Common Stock pursuant
to the S-3 registration statement declared effective by the Securities and
Exchange Commission on December 21, 2001. The Company will use the proceeds
of such offering to repurchase 6 million shares of Common Stock held by the
reporting persons, which number may be adjusted upward or downward as set
forth in the Stock Purchase Agreement. The purchase price per share will be
equal to the public offering price per share, less underwriting discounts
and commissions. The foregoing description of the Stock Purchase Agreement
is not intended to be complete and is qualified in its entirety by reference
to the Stock Purchase Agreement filed herewith as Exhibit 99.1 and incorporated
herein by reference.
Except as set forth herein, there are no contracts, arrangements,
understandings or relationships among the reporting persons and any other
person with respect to any securities of the Company which would be required
to be disclosed under Item 6 of Schedule 13D."
Item 7. Material to be Filed as Exhibits.
99.1 Stock Purchase Agreement, dated as of November 1, 2002, by and
among Swiss Reinsurance Company, SwissRe Capital Management
(Bermuda) Ltd., European Reinsurance Company of Zurich and
PartnerRe Ltd.
99.2 Joint Filing Agreement, dated as of November 1, 2002, by and among
Swiss Reinsurance Company, SwissRe Capital Management (Bermuda) Ltd.
and European Reinsurance Company of Zurich.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, each person set forth below certifies that the information set forth
in this statement is true, complete and correct.
Dated as of: November 1, 2002
Swiss Reinsurance Company Swiss Reinsurance Company
By: /s/ Markus Diethelm By: /s/ Flavia Diethelm
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Name: Markus Diethelm Name: Flavia Diethelm
Title: Chief Legal Officer Title: Member of Senior Management
European Reinsurance Company of Zurich European Reinsurance Company of Zurich
By: /s/ Fiona Schmid By: /s/ Herbert Buff
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Name: Fiona Schmid Name: Herbert Buff
Title: General Counsel Title: Member of Senior Management
SwissRe Capital Management (Bermuda) Ltd. SwissRe Capital Management (Bermuda) Ltd.
By: /s/ Juerg Hess By: /s/ Ulrich Ackermann
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Name: Juerg Hess Name: Ulrich Ackermann
Title: Member of Senior Management Title: Member of Senior Management