Third Quarter Operating Earnings per share of $3.90; Net Income per share of $7.53

Third Quarter Annualized Operating ROE of 18.4%; Annualized Net Income ROE of 35.5%

Nine Month Operating Earnings per share of $8.84; Net Income per share of $15.19

Nine Month Annualized Operating ROE of 13.9%; Annualized Net Income ROE of 23.9%

Book Value of $99.54 per share, up 8.3% for the quarter and up 17.4% year-to-date.

PartnerRe Ltd.

Wellesley House, 5^th Floor

90 Pitts Bay Road

Pembroke, Bermuda HM 08

Telephone +1 441 292 0888

Fax +1 441 292 6080

www.partnerre.com

For the third quarter, net premiums written of $1.0 billion were down 3%, or up 1% on a constant foreign exchange basis, primarily related to positive prior year estimated premium adjustments in the North America sub-segment and new business in the Global (Non-U.S.) Specialty sub-segment. These increases were partially offset by a decrease in the Catastrophe sub-segment’s net premiums written due to the reductions in certain exposures and differences in the timing of renewals compared to the third quarter of 2011. For the first nine months of 2012, net premiums written were up 1%, or up 4% on a constant foreign exchange basis, due to new business across all sub-segments, except for the Catastrophe sub-segment which declined due to reductions in certain exposures.

For the third quarter, net premiums earned of $1.2 billion were down 4%, or up 1% on a constant foreign exchange basis. On a constant foreign exchange basis, net premiums earned increased primarily in the Global (Non-U.S.) Specialty sub-segment and the Life segment due to new business. These increases were partially offset by decreases in the Catastrophe sub-segment as described for net premiums written above. For the first nine months of 2012, net premiums earned were down 4%, or 1% on a constant foreign exchange basis, primarily due to the impact of cancelled and non-renewed business in the Global (Non-U.S.) P&C and Catastrophe sub-segments. These decreases were partially offset by new business primarily in the Global (Non-U.S.) Specialty sub-segment and the Life segment.

For the third quarter, the Non-life combined ratio was 80.7% and included 18.2 points (or $189 million) of net favorable loss development on prior accident years. For the first nine months of 2012, the Non-life combined ratio was 85.1% and included 17.2 points (or $468 million) of net favorable loss development on prior accident years. All Non-life sub-segments experienced net favorable development on prior accident years during the third quarter and first nine months of 2012, with the Global (Non-U.S.) Specialty and North America sub-segments contributing the most significantly.

For the third quarter and first nine months of 2012, net investment income of $135 million and $436 million, respectively, were down 15% and 7%, respectively, on a constant foreign exchange basis compared to the applicable prior year periods, primarily reflecting lower reinvestment rates.

For the third quarter and first nine months of 2012, pre-tax net realized and unrealized investment gains were $257 million and $488 million, respectively, and primarily related to the tightening of credit spreads and increases in the market value of equities.

PartnerRe Ltd.

Wellesley House, 5^th Floor

90 Pitts Bay Road

Pembroke, Bermuda HM 08

Telephone +1 441 292 0888

Fax +1 441 292 6080

www.partnerre.com

For the third quarter, the effective tax rate on operating earnings and non-operating earnings was 11% and 13%, respectively. For the first nine months of 2012, the effective tax rate on operating earnings and non-operating earnings was 13% and 18%, respectively.

Total investments, cash and funds held – directly managed were $18.4 billion at September 30, 2012, up 3% compared to December 31, 2011.

Net Non-life loss and loss expense reserves were $10.5 billion at September 30, 2012, down 4% compared to December 31, 2011 primarily due to loss payments associated with the 2011 catastrophe events.

Net policy benefits for life and annuity contracts were $1.7 billion at September 30, 2012, up 4% when compared to December 31, 2011.

Total capital was $7.9 billion at September 30, 2012, up 8% from $7.3 billion at December 31, 2011. The increase was primarily driven by net income for the first nine months of 2012, partially offset by share repurchases and common and preferred dividend payments.

During the third quarter of 2012, the Company repurchased approximately 1.3 million common shares at a total cost of approximately $93 million. During the period October 1, 2012 through October 26, 2012, the Company repurchased approximately 153 thousand common shares at a total cost of approximately $12 million. During the third quarter of 2012, the Company’s Board of Directors approved a share repurchase authorization of up to 6 million common shares. At October 31, 2012, approximately 5.7 million common shares remained under the current repurchase authorization.

Total shareholders’ equity was $7.1 billion at September 30, 2012, up 9% compared to $6.5 billion at December 31, 2011. The increase was driven by the factors described for total capital.

Book value per common share was $99.54 on a fully diluted basis at September 30, 2012, up 17% compared to $84.82 per diluted share at December 31, 2011. The increase was driven by the factors described for total capital and the accretive impact of share repurchases.

PartnerRe Ltd.

Wellesley House, 5^th Floor

90 Pitts Bay Road

Pembroke, Bermuda HM 08

Telephone +1 441 292 0888

Fax +1 441 292 6080

www.partnerre.com

For the third quarter, the North America and Global (Non-U.S.) Specialty sub-segments reported an increase in net premiums written compared to the third quarter of 2011 on a constant foreign exchange basis. These increases were partially offset by decreases in net premiums written compared to the third quarter of 2011 in the Catastrophe and Global (Non-U.S.) P&C sub-segments, on a constant foreign exchange basis. For the first nine months of 2012, all Non-life sub-segments, except for the Catastrophe sub-segment, reported an increase in net premiums written compared to the same period in 2011.

For the third quarter, the North America sub-segment’s net premiums written were up 8%, or 9% on a constant foreign exchange basis, primarily due to a higher level of positive prior year premium estimate adjustments in the casualty line and new business in the property line, which were partially offset by a lower level of agricultural premiums. This sub-segment reported a technical ratio of 99.7%, which included a charge of 25.4 points (or $85 million) related to the U.S. drought which was partially offset by 19.9 points (or $67 million) of net favorable prior year loss development. For the first nine months of 2012, the North America sub-segment’s net premiums written were up 6%, or 7% on a constant foreign exchange basis, primarily due to the same factors describing the third quarter. This sub-segment reported a technical ratio of 91.1%, which included a charge of 9.8 points (or $85 million) related to the U.S. drought which was partially offset by 19.4 points (or $167 million) of net favorable prior year loss development.

For the third quarter, the Global (Non-U.S.) P&C sub-segment’s net premiums written were down 15%, or 6% on a constant foreign exchange basis, due to the impact of cancellations and reduced treaty participations in prior periods in the property line of business. This sub-segment reported a technical ratio of 88.8%, which included 16.7 points (or $28 million) of net favorable prior year loss development. For the first nine months of 2012, the Global (Non-U.S.) P&C sub-segment’s net premiums written were up 3%, or 7% on a constant foreign exchange basis, primarily due to new business written in the motor line of business, which was partially offset by cancellations and reduced treaty participation in the property line of business. This sub-segment reported a technical ratio of 90.2%, which included 15.0 points (or $74 million) of net favorable prior year loss development.

For the third quarter, the Global (Non-U.S.) Specialty sub-segment’s net premiums written were down 1%, or up 4% on a constant foreign exchange basis primarily due to new business in the marine line of business which was partially offset by non-renewals and increased retentions in the energy and aviation/space lines of business. This sub-segment reported a technical ratio of 66.1%, which included 25.0 points (or $91 million) of net favorable prior year loss development. For the first nine months of

PartnerRe Ltd.

Wellesley House, 5^th Floor

90 Pitts Bay Road

Pembroke, Bermuda HM 08

Telephone +1 441 292 0888

Fax +1 441 292 6080

www.partnerre.com

2012, the Global (Non-U.S.) Specialty sub-segment’s net premiums written were up 9%, or 12% on a constant foreign exchange basis, primarily due to new business in the marine, specialty property, and agriculture lines of business. This sub-segment reported a technical ratio of 78.4%, which included 19.8 points (or $205 million) of net favorable prior year loss development.

For the third quarter, the Catastrophe sub-segment’s net premiums written were down 23% primarily due to reductions in certain exposures and differences in the timing of renewals compared to the third quarter of 2011, which was partially offset by new business written in non-peak catastrophe zones. This sub-segment reported a technical ratio of 32.1%, which included 1.7 points (or $3 million) of net favorable prior year loss development. For the first nine months of 2012, the Catastrophe sub-segment’s net premiums written were down 21%, primarily due to the non-renewal of certain business at January 1 and April 1 and a reduction in reinstatement premiums, which were partially offset by new business. This sub-segment reported a technical ratio of 26.5%, which included 6.5 points (or $22 million) of net favorable prior year loss development.

For the third quarter, the Life segment’s net premiums written were down 4%, or up 5% on a constant foreign exchange basis primarily due to new longevity business written in the fourth quarter of 2011. This increase in net premiums written, on a constant foreign exchange basis, was partially offset by decreases in mortality business. For the first nine months of 2012, the Life segment’s net premiums written were up 1%, or 6% on a constant foreign exchange basis, primarily due to the same factors describing the third quarter.

The Life allocated underwriting result, which includes allocated investment income and operating expenses, increased to $15 million in the third quarter of 2012 compared to $9 million in the same period of 2011. The increase was primarily due to favorable development, which was partially offset by a decrease in allocated investment income. The Life allocated underwriting result increased to $42 million for the first nine months of 2012, compared to $32 million in the same period of 2011. The increase was primarily due to favorable development, which was partially offset by an increased level of claims activity related to certain mortality business.

For the third quarter, investment and capital markets activities contributed income of $381 million to pre-tax net income, excluding investment income allocated to the Life segment. Of this amount, income of $119 million was included in pre-tax operating

PartnerRe Ltd.

Wellesley House, 5^th Floor

90 Pitts Bay Road

Pembroke, Bermuda HM 08

Telephone +1 441 292 0888

Fax +1 441 292 6080

www.partnerre.com

earnings and an additional $262 million in net realized and unrealized gains on investments and earnings from equity investee companies was included in pre-tax non-operating income. For the first nine months of 2012, investment and capital markets activities contributed income of $879 million to pre-tax net income, excluding investment income allocated to the Life segment. Of this amount, income of $382 million was included in pre-tax operating earnings and an additional $497 million in net realized and unrealized gains on investments and earnings from equity investee companies was included in pre-tax non-operating income.

PartnerRe Ltd.

Wellesley House, 5^th Floor

90 Pitts Bay Road

Pembroke, Bermuda HM 08

Telephone +1 441 292 0888

Fax +1 441 292 6080

www.partnerre.com

PartnerRe Ltd.

Wellesley House, 5^th Floor

90 Pitts Bay Road

Pembroke, Bermuda HM 08

Telephone +1 441 292 0888

Fax +1 441 292 6080

www.partnerre.com

PartnerRe Ltd.

(441) 292-0888

Investor Contact: Robin Sidders

Media Contact: Celia Powell

Sard Verbinnen & Co.

(212) 687-8080

Drew Brown/Daniel Goldstein

PartnerRe Ltd.

Wellesley House, 5^th Floor

90 Pitts Bay Road

Pembroke, Bermuda HM 08

Telephone +1 441 292 0888

Fax +1 441 292 6080

www.partnerre.com

Revenues

Gross premiums written

Net premiums written

Decrease (increase) unearned premiums

Net premiums earned

Net investment income

Net realized and unrealized investment gains (losses)

Other income

Total revenues

Expenses

Losses and loss expenses and life policy benefits

Acquisition costs

Other operating expenses

Interest expense

Amortization of intangible assets

Net foreign exchange losses (gains)

Total expenses

Income (loss) before taxes and interest in earnings (losses) of equity investments

Income tax expense

Interest in earnings (losses) of equity investments

Net income (loss)

Preferred dividends

Operating earnings (loss) available to common shareholders

Comprehensive income (loss), net of tax

Per share data:

Earnings (loss) per common share:

Basic operating earnings (loss)

Net realized and unrealized investment gains (losses), net of tax

Net foreign exchange gains, net of tax

Interest in earnings (losses) of equity investments, net of tax

Basic net income (loss)

Weighted average number of common shares outstanding

Diluted operating earnings (loss)

Net realized and unrealized investment gains (losses), net of tax

Net foreign exchange gains, net of tax

Interest in earnings (losses) of equity investments, net of tax

Diluted net income (loss)

Weighted average number of common shares and common share equivalents outstanding

Dividends declared per common share

Assets

Investments:

Fixed maturities, trading securities, at fair value

Short-term investments, trading securities, at fair value

Equities, trading securities, at fair value

Other invested assets

Total investments

Funds held – directly managed

Cash and cash equivalents, at fair value, which approximates amortized cost

Accrued investment income

Reinsurance balances receivable

Reinsurance recoverable on paid and unpaid losses

Funds held by reinsured companies

Deferred acquisition costs

Deposit assets

Net tax assets

Goodwill

Intangible assets

Other assets

Total assets

Liabilities

Unpaid losses and loss expenses

Policy benefits for life and annuity contracts

Unearned premiums

Other reinsurance balances payable

Deposit liabilities

Net tax liabilities

Accounts payable, accrued expenses and other

Debt related to senior notes

Debt related to capital efficient notes

Total liabilities

Shareholders’ Equity

Common shares (par value $1.00; issued: 2012, 85,204,067 shares; 2011, 84,766,693 shares)

Preferred shares (par value $1.00; issued and outstanding: 2012 and 2011, 35,750,000 shares; aggregate liquidation value: 2012 and 2011, $893,750)

Additional paid-in capital

Accumulated other comprehensive income (loss):

Currency translation adjustment

Other accumulated comprehensive loss

Retained earnings

Common shares held in treasury, at cost (2012, 23,837,410 shares; 2011, 19,444,365 shares)

Total shareholders’ equity

Total liabilities and shareholders’ equity

Shareholders’ Equity Per Common Share (excluding preferred shares: 2012 and 2011, $893,750)

Diluted Book Value Per Common Share and Common Share Equivalents Outstanding (assuming exercise of all share-based awards)

Number of Common Share and Common Share Equivalents Outstanding

Gross premiums written

Net premiums written

Decrease in unearned premiums

Net premiums earned

Losses and loss expenses and life policy benefits

Acquisition costs

Technical result

Other income

Other operating expenses

Underwriting result

Net investment income

Allocated underwriting result ⁽¹⁾

Net realized and unrealized investment gains

Interest expense

Amortization of intangible assets

Net foreign exchange losses

Income tax expense

Interest in earnings of equity investments

Net income

Loss ratio ⁽²⁾

Acquisition ratio ⁽³⁾

Technical ratio ⁽⁴⁾

Other operating expense ratio ⁽⁵⁾

Combined ratio ⁽⁶⁾

Gross premiums written

Net premiums written

Decrease in unearned premiums

Net premiums earned

Losses and loss expenses and life policy benefits

Acquisition costs

Technical result

Other income

Other operating expenses

Underwriting result

Net investment income

Allocated underwriting result ⁽¹⁾

Net realized and unrealized investment gains

Interest expense

Amortization of intangible assets

Net foreign exchange gains

Income tax expense

Interest in losses of equity investments