Exhibit 10.1

CAPITAL MANAGEMENT MAINTENANCE AGREEMENT

BETWEEN

PARTNERRE LTD.
(Pembroke, Bermuda)

AND

PARTNERRE IRELAND INSURANCE LIMITED (Dublin, Ireland)

AND

PARTNERRE HOLDINGS IRELAND LIMITED. (Dublin, Ireland)

This Capital Management Maintenance Agreement (“Agreement”), effective 27 July
2005, is entered into by and between PARTNERRE LTD. (“PRE”), a company
incorporated under the laws of Bermuda, with its principal place of business
located at Chesney House, 96 Pitts Bay Road, Pembroke HM 08 Bermuda, its
subsidiary, PARTNERRE HOLDINGS IRELAND LIMITED, (the “Holding Company”) and the
Holding Company’s subsidiary PARTNERRE IRELAND INSURANCE LIMITED. (“PRIIL”), an
insurance company domiciled in Dublin, Ireland, with principal offices located
at Ground Floor, 7 Exchange Place, IFSC, Dublin 1, Ireland

WITNESSETH:

     WHEREAS, PRE is the ultimate beneficial owner of 100% of the outstanding
common stock of PRIIL;

     WHEREAS, Holding Company is the immediate owner of 100% of the outstanding
common stock of PRIIL;

     WHEREAS, PRIIL has issued and intends to issue insurance contracts
(“Contracts”) to third parties;

     WHEREAS, PRIIL depends, in part, on favorable consideration from insurance
buyers, who place great emphasis on the financial solidity of insurers;

     WHEREAS, PRE wishes to provide certain assurances with respect to the
maintenance of the net worth of PRIIL;

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     WHEREAS, PRE and PRIIL desire to take certain actions to enhance and
maintain the financial condition of PRIIL as hereinafter set forth in order to
enable PRIIL to issue such Contracts; and

     WHEREAS, PRE, Holding Company and PRIIL are companies regulated in the
public interest by governmental agencies in their respective domiciles;

     NOW, THEREFORE, in consideration of the mutual promises herein contained,
the parties hereto agree as follows:

     1. NET WORTH. PRE agrees that it shall financially support PRIIL as
provided herein during the term of this Agreement, and each year thereafter in
which this Agreement is in effect, to enable PRIIL to maintain surplus as
regards policyholders equal to 200% of the minimum Solvency Margin (defined
below) as calculated for the current calendar year in which this Agreement is in
effect.

     2. ANNUAL CALCULATION. Prior to December 31st of each calendar year in
which this Agreement is in effect, PRIIL shall calculate its surplus levels as
regards policy holders (the “Annual Calculation”) and shall further calculate
the solvency margin as required by the Irish Financial Services Regulatory
Authority according to the rules set out by the European Communities (Non-Life
Insurance) Framework Regulations, 1994 (S.I. No. 359 of 1994) (the “Solvency
Margin”)

     In the event that the Annual Calculation is less than 200% of the Solvency
Margin, PRE or one of its designated subsidiaries within the PartnerRe Group
shall make a contribution (“Contribution”) to the Holding Company’s capital to
the extent necessary to increase PRIIL’s surplus as provided in Article 1
herein. PRE or such designated subsidiary will make such Contribution within
ninety (90) days after the determination that the Annual Calculation is less
than 200% of the Solvency Margin and proper notice has been provided to PRE.

     3. CONSIDERATION. In consideration for any Contribution made by PRE or one
of its designated subsidiaries (hereinafter to referred as the “Contributing
Party”) under Article 2 herein, the Holding Company shall issue to such
Contributing Party, at the time such Contribution is made, shares of its common
stock which shall be equal in value to such Contribution made, subject to the
appropriate approval from the Holding Company’s Board of Directors and
Shareholders as applicable.

     The shares of common stock issued by the Holding Company in consideration
for any Contribution made, shall be valued at the fair market value of the
Holding Company at the time such Contribution is made.

     4. AGGREGATE LIMIT. The sum of all Contributions made by PRE or any of its
designated subsidiaries under this Agreement shall in aggregate not exceed a
total of $100 million during the entire period in which this Agreement is in
effect.

     5. WAIVERS. PRE hereby waives any failure or delay on the part of PRIIL or
the Holding Company in asserting or enforcing any of its rights or in making any
claims or demands hereunder.

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     6. TERMINATION; AMENDMENT. Notwithstanding any provision to the contrary
pursuant to this Agreement, this Agreement shall continue in full force and
effect until the earlier of: (i) mutual agreement is reached between the parties
to terminate the Agreement; (ii) PRE or any of its designated subsidiaries
contributes to PRIIL the full Aggregate Limit as provided in Article 4 herein;
or (iii) PRE terminates this Agreement immediately upon written notice to the
Holding Company and PRIIL in the event of the sale or transfer of a majority of
either the Holding Company or PRIIL’s stock to an entity not affiliated with
PRE.

     This Agreement may be amended at any time by written amendment or agreement
signed by all of the parties hereto.

     In the event PRE decides to either amend or terminate this Agreement as
provided herein, PRE shall provide written notice to the Holding Company’s and
PRIIL’s Compliance Manager within ten (10) days, at the address set forth below:

     7. NOTICES. Any notice, instruction, request, consent, demand, or other
communication required or contemplated by this Agreement shall be communicated
in writing, and addressed as follows:

If to PRE :   PartnerRe Ltd.   Chesney House   96 Pitts Bay Road   Pembroke HM
08   Bermuda

If to PRIIL /   PartnerRe Ireland Insurance Limited Holding Company   Ground
Floor   7 Exchange Place   IFSC   Dublin 1, Ireland

     8. ARBITRATION. All unresolved differences of opinion or all and any
disputes between PRE, Holding Company and PRIIL including its formation and
validity, shall be submitted to arbitration. The seat of the arbitration shall
be Bermuda. The governing law of the arbitration shall be Bermuda. The
arbitration shall be conducted in accordance with The Bermuda International
Conciliation and Arbitration Act 1993.

     In the event that the parties cannot agree on the appointment of
arbitrators, who shall be persons with not less than ten years' experience of
insurance or reinsurance as persons engaged in the industry itself (including
those who have retired) or as lawyers or other professional

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advisers, the arbitrators shall be appointed by the nominating committee for the
time being of the Chartered Institute of Arbitrators Bermuda Branch.

9. GOVERNING LAW. This Agreement shall be governed by the laws of Bermuda.

PartnerRe Ltd.

 

By:

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Name:

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Title:

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PartnerRe Ireland Insurance Limited

 

By:

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Name:

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Title:

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PartnerRe Holdings Ireland Limited.

 

By:

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Name:

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Title:

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