8-K

UNITED STATES

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):  January 16, 2008
PartnerRe Ltd.
(Exact Name of Registrant as Specified in Charter)
	Bermuda
	(State or Other Jurisdiction of Incorporation)
0-2253		Not Applicable
(Commission File Number)		(IRS Employer Identification No.)
Wellesley House, 90 Pitts Bay Road, Pembroke, Bermuda		HM 08
(Address of Principal Executive Offices)		(Zip Code)
Registrant’s telephone number, including area code: (441) 292-0888

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02  Results of Operations and Financial Condition

On January 16, 2008, PartnerRe Ltd. issued a press release.  A copy of the press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference.

Item 9.01  Financial Statements and Exhibits

(d)  Exhibits.

Exhibit No.	Description
99.1	Press Release of PartnerRe Ltd., dated January 16, 2008

SIGNATURES

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 hereunto duly authorized.

		PartnerRe Ltd. (Registrant)
Date:	January 16, 2008	By:	/s/ Marc Wetherhill
			Name:	Marc Wetherhill
			Title:	Associate General Counsel

Index to Exhibits

Exhibit No.	Description
99.1	Press Release of PartnerRe Ltd., dated January 16, 2008

EX-99.1

Exhibit 99.1

News Release

PartnerRe Ltd. Announces $74 Million Write-Down of ChannelRe Investment

PEMBROKE, Bermuda, January 16, 2008 -- PartnerRe Ltd. (NYSE: PRE) today announced that it expects to record a non-operating charge of $74 million to write-down its total investment in ChannelRe.

PartnerRe owns a 20% equity interest in ChannelRe, a privately-owned financial guaranty reinsurer which provides reinsurance services exclusively to MBIA. At September 30, 2007, the carrying value of the Company’s investment in ChannelRe was $74 million.

Based on discussions with ChannelRe, PartnerRe expects that the most recent announcement made by MBIA that it will record a fourth quarter 2007 mark-to-market charge of $3.3 billion, including approximately $200 million in credit impairments, will lead to mark-to-market write-downs at ChannelRe in excess of its GAAP shareholders’ equity. As a result of this development, PartnerRe will write down its total investment in ChannelRe. This write-down will have no impact on operating income, but will impact net income and GAAP book value. The fourth quarter 2007 impact to GAAP book value will be $1.31 per diluted share. Notwithstanding this, PartnerRe management expects to report year-end 2007 GAAP book value of approximately $68.00 per diluted share, representing in excess of 20% growth year-over-year. PartnerRe’s fourth quarter and full year 2007 results are scheduled to be released after the market close on February 4, 2008.

PartnerRe Ltd. is a leading global reinsurer, providing multi-line reinsurance to insurance companies. The Company through its wholly owned subsidiaries also offers alternative risk products that include weather and credit protection to financial, industrial and service companies.  Risks reinsured include property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering, energy, marine, specialty property, specialty casualty, other lines, life/annuity and health, and alternative risk products. For the year ended December 31, 2006, total revenues were $4.2 billion. As of September 30, 2007 total assets were $16.2 billion, total capital was $5.1 billion and total shareholders’ equity was $4.2 billion.

PartnerRe on the Internet: www.partnerre.com

Contacts:	PartnerRe Ltd.	Sard Verbinnen
	(441) 292-0888	(212) 687-8080
	Investor Contact: Robin Sidders	Drew Brown/Jane Simmons
	Media Contact: Celia Powell

PartnerRe Ltd. Wellesley House South 90 Pitts Bay Road Pembroke, Bermuda HM 08 Telephone +1 441 292 0888 Fax +1 441 292 6080 www.partnerre.com