8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                       ----------------------------------

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                Date of Report (Date of earliest event reported):
                       MArch 25, 2002 (February 26, 2002)

                                 PARTNERRE LTD.
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             (Exact name of registrant as specified in its charter)



     Bermuda                       0-2253                      Not Applicable
   -----------                   ----------                  ----------------
 (State or other              (Commission File                  (IRS Employer
 jurisdiction of                  Number)                    Identification No.)
 incorporation)


      Chesney House, 96 Pitts Bay Road, Pembroke, Bermuda         HM 08
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           (Address of principal executive offices)             (Zip Code)

                                 (441) 292-0888
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              (Registrant's telephone number, including area code)








Item 5.  Other Events.
         ------------

     PartnerRe Ltd. (the "Company") has amended the employment agreement with
Patrick Thiele, President and Chief Executive Officer, with effect from February
26, 2002. A copy of the amendment is included as exhibit 99.1 to this filing and
is incorporated herein by reference.

     The Company is a leading global reinsurer, providing multi-line reinsurance
to insurance companies through its wholly owned subsidiaries, Partner
Reinsurance Company, Partner Re U.S. and PartnerRe S.A. Risks reinsured include
property, catastrophe, agriculture, automobile, casualty, marine,
aviation/space, credit/surety, technical and miscellaneous lines, life/annuity
and health.




Item 7.  Financial Statements and Exhibits.
         ---------------------------------

          (a)  Financial statements of businesses acquired.

               Not applicable.

          (b)  Pro forma financial information.

               Not applicable.

          (c)  Exhibits:

               99.1 Second Amendment to Patrick Thiele's Employment Agreement.






                                    SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

Date: March 25, 2002                  PARTNERRE LTD.
                                      (Registrant)


                                      By: /s/ Albert Benchimol
                                          -----------------------------------
                                          Name:  Albert Benchimol
                                          Title: Executive Vice President
                                                 and Chief Financial Officer






                                  EXHIBIT INDEX


       Exhibit                  Description
       -------                  -----------

        99.1        Second Amendment to Patrick Thiele's Employment Agreement.

EX-99.1

Second Amendment to Patrick Thiele's Employment Agreement dated
September 29, 2000

                           Effective February 26, 2002


Clause 5 (b) to be deleted and replaced with the following :

Clause 5 (b) Annual Incentive Bonus Compensation. During the term of the
Employee's employment hereunder, the Employee will be entitled to receive annual
bonus compensation in an amount for the Company's fiscal year determined in the
sole discretion of the Human Resources Committee in accordance with the
Company's Compensation Guidelines. The annual incentive range and target
performance used for the purposes of calculation of the annual bonus will be
established annually by the Human Resources Committee provided that such range
shall be not less than 0% and 175% of Base Salary with target performance not
less than 125%. Such bonus to be paid either in Cash or Cash and Option grants,
with Option grants comprising up to 50% of the total calculated bonus, at the
election of the Employee from year to year:

     (i)  Cash to be paid in February of each year commencing February, 2002

     (ii) Options to be granted utilising the black scholes valuation applicable
          to option grants in February of each year, commencing in February
          2002. Options will fully vest on the grant date. The option award will
          be in accordance with, and subject to, the terms of the Plans and any
          agreements executed by the Employee in connection therewith.


Clause 5 (c), third paragraph to be deleted and replaced with the following:

     "The Employee will be eligible to participate in the Stock Option Plans of
the Company (the "Plans"); the next such award is expected to be granted in
February 2002 based on the Company's Stock Option Grant Methodology for the
Executive Pool. The Employee shall receive stock options at the sole discretion
of the Human Resources Committee of the Board in accordance with, and subject
to, the terms of the Plans, based on the standard vesting schedule and any
agreement executed by the Employee in connection therewith.


IN WITNESS WHEREOF, the Company has caused its name to be ascribed to this
Amendment by its duly authorized representative and the Employee has executed
this Amendment effective as of the date set forth above.


PARTNERRE LTD.


- ----------------------------
Name: David McLaughlin
Title: Chairman of the Board of Directors


- ----------------------------
Name: Patrick Thiele