PartnerRe Growing Ag Reinsurance Services

Pembroke, Bermuda-based PartnerRe says that it has expanded its agricultural reinsurance service capabilities worldwide through the addition of a professional team from Agricultural Risk Management Ltd., a subsidiary of Aon Risk Services.

The agriculture industry is exposed to many perils and the long-term potential for insurance and reinsurance is substantial, the company said. Through its new initiative, PartnerRe is responding to growing demand by providing specialist risk management and reinsurance services in agriculture.

The ten professionals that have joined PartnerRe this month are lead by former managing director and founder of Aon's Agricultural Risk Management Ltd., William Dick, and include specialists located in the U.K., U.S., Argentina, Chile and New Zealand.

"Together with our existing agricultural reinsurance team, they will provide the ideal platform for expanding PartnerRe's important agricultural business," the company said, in a news release.

In addition to product development capabilities and risk modeling, the global team will offer underwriting support and risk management expertise in agriculture, forestry, horticulture, livestock and aquaculture.

PartnerRe and Aon have agreed to cooperate on new agricultural initiatives on a non-exclusive basis.

Herbert Haag, president and CEO of PartnerRe Ltd. commented, ``I am very pleased to welcome the additional talent to our agricultural division. Their well-respected expertise will provide the depth and strength we need to advance PartnerRe towards being the leading agricultural reinsurance and risk management service provider worldwide.''