NU Online News Service, May 4, 11:57 a.m. EST

PartnerRe Ltd. in Pembroke, Bermuda, announced that Patrick Thiele, president and chief executive officer, has decided to retire, effective Dec. 31.

Mr. Thiele will also step down from the company's board of directors at that time.

Mr. Thiele took over the helm of PartnerRe in 2000, when founder Herbert Haag retired. He has held the positions of president and CEO since Dec. 1, 2000.

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