Document:

Amended Credit Agreement dated as of December 19, 2007

 EXHIBIT 10.4.5 
 FOURTH AMENDMENT TO CREDIT AGREEMENT 
 FOURTH AMENDMENT TO CREDIT AGREEMENT (this “Fourth
Amendment”), dated as of December 19, 2007, among PARTNERRE LTD., a company organized under the laws of Bermuda (the “Company”), the Designated Subsidiary Borrowers party to the Credit Agreement referred to below, the
lenders party to the Credit Agreement referred to below (each, a “Lender” and, collectively, the “Lenders”) and JPMORGAN CHASE BANK, N.A. (“JPMorgan Chase”), as Administrative Agent (in such
capacity, the “Administrative Agent”). All capitalized terms used herein and not otherwise defined shall have the respective meanings provided such terms in the Credit Agreement. 
 W I T N E S S E T H: 
 WHEREAS, the Company, the Designated Subsidiary Borrowers, the Lenders and the Administrative Agent are parties to a Credit Agreement, dated as of
June 17, 2004 and amended and restated as of September 30, 2005 (as in effect on the date hereof, the “Credit Agreement”); and 
 WHEREAS, the parties hereto desire to make certain modifications to the Credit Agreement as set forth herein; 
 NOW, THEREFORE, it is agreed: 
  

	I.	Fourth Amendment to the Credit Agreement. 

 1.
Section 2.02(a) of the Credit Agreement is hereby amended by deleting the reference to “$100,000,000” appearing therein and inserting “$350,000,000” in lieu thereof. 
  

	II.	Miscellaneous Provisions. 

 1. In order to induce
the Lenders to enter into this Fourth Amendment, the Company hereby represents and warrants that: 
 (a) no Default or Event of Default
exists on the Fourth Amendment Effective Date (as defined below), immediately after giving effect to this Fourth Amendment; and 
 (b) all of
the representations and warranties contained in the Credit Agreement and the other Credit Documents are true and correct in all material respects on and as of the Fourth Amendment Effective Date immediately after giving effect to this Fourth
Amendment, with the same effect as though such representations and warranties had been made on and as of the Fourth Amendment Effective Date (it being understood that any representation or warranty made as of a specific date shall be true and
correct in all material respects as of such specific date). 

 2. This Fourth Amendment is limited as specified and shall not constitute a modification, acceptance or
waiver of any other provision of the Credit Agreement or any other Credit Document. 
 3. This Fourth Amendment may be executed in any number
of counterparts and by the different parties hereto on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of
counterparts shall be lodged with the Borrower and the Administrative Agent. 
 4. THIS FOURTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
 5. This Fourth Amendment
shall become effective on the date (the “Fourth Amendment Effective Date”) when the Company, each Designated Subsidiary Borrower and the Required Lenders shall have signed a counterpart hereof (whether the same or different
counterparts) and shall have delivered (including by way of facsimile transmission) the same to White & Case LLP, 1155 Avenue of the Americas, New York, New York 10036, Attention: May Yip-Daniels (facsimile: 212-819-8113). 
 6. From and after the Fourth Amendment Effective Date all references in the Credit Agreement and each of the other Credit Documents to the Credit
Agreement shall be deemed to be a reference to the Credit Agreement as modified hereby on the Fourth Amendment Effective Date, pursuant to the terms of this Fourth Amendment. 
 *    *    * 
  

 -2- 

 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver
this Fourth Amendment as of the date first above written. 
  

			
	PARTNERRE LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	PARTNER REINSURANCE COMPANY LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	PARTNERRE S.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	PARTNER REINSURANCE COMPANY OF THE U.S.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	PARTNERRE INSURANCE COMPANY OF NEW YORK
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	PARTNERRE IRELAND INSURANCE LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	PARTNER REINSURANCE EUROPE LIMITED (formerly known as PARTNER REINSURANCE IRELAND LIMITED)
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	WACHOVIA BANK, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BARCLAYS BANK PLC
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	CREDIT SUISSE
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	HSBC BANK USA, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BANK OF AMERICA, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CITIBANK, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	DEUTSCHE BANK AG NEW YORK BRANCH
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	LEHMAN BROTHERS BANK, FSB
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	LLOYDS TSB BANK PLC
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	THE ROYAL BANK OF SCOTLAND PLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	UBS AG, STAMFORD BRANCH
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	MELLON BANK, N.A.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	NATIONAL AUSTRALIA BANK LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	 STANDARD CHARTERED BANK

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 THE BANK OF NOVA SCOTIA

		
	 By:
	 	  

	 Name:
	 	
	 Title:Capital Management Maintenance Agreement, effective January 1, 2008

 EXHIBIT 10.5.2 
 CAPITAL MANAGEMENT MAINTENANCE AGREEMENT 
 BETWEEN 
 PARTNERRE LTD. 
 (Pembroke, Bermuda)

 AND 
 PARTNER
REINSURANCE EUROPE LIMITED 
 (Dublin, Ireland) 
 This Capital Management Maintenance Agreement (“Agreement”), effective January 1, 2008, is entered into by and between PARTNERRE LTD. (“PartnerRe”), a holding company domiciled in
Pembroke, Bermuda, with its principal place of business located at Chesney House, 96 Pitts Bay Road, Pembroke HM 08 Bermuda, and its subsidiary PARTNER REINSURANCE EUROPE LIMITED , (“PartnerRe Europe”) a reinsurance company
domiciled in Dublin, Ireland, with principal offices located at The Oval, 5th Floor,160 Shelbourne Rd. Dublin 4, Ireland 
 WITNESSETH: 
 WHEREAS, PartnerRe is the ultimate owner of 100% of the outstanding common stock of PartnerRe Europe; 
 WHEREAS, PartnerRe Europe has issued and intends to issue reinsurance contracts (“Contracts”) to third parties; 
 WHEREAS, PartnerRe Europe depends, in part, on favorable consideration from reinsurance buyers, who place great emphasis on the financial strength
of reinsurers; 
 WHEREAS, PartnerRe wishes to provide certain assurances with respect to the maintenance of the net worth of
PartnerRe Europe; 
 WHEREAS, PartnerRe and PartnerRe Europe desire to take certain actions to enhance and maintain the financial
condition of PartnerRe Europe as hereinafter set forth in order to enable PartnerRe Europe to issue such Contracts; and 
 WHEREAS,
PartnerRe, and PartnerRe Europe are companies regulated in the public interest by governmental agencies in their respective domiciles; 
  

 1 

 NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties
hereto agree as follows: 
 1. OBLIGATION TO PROVIDE CAPITAL. PartnerRe agrees that it shall financially support PartnerRe Europe and
shall from time to time make such capital contributions in cash or other acceptable form as may be necessary to maintain the Capital (as defined below) of PartnerRe Europe in an amount not less that the minimum required under the reinsurance laws of
Ireland or Euro 750 million (Euro seven hundred and fifty million), whichever is greater. The “Capital” of PartnerRe Europe at any time shall mean policyholder surplus, determined in accordance with statutory accounting principles in
effect on the date hereof in the Republic of Ireland as calculated for the current calendar year in which this Agreement is in effect. PartnerRe further agrees that following any material change in the method of calculating Capital, its obligation
shall be to maintain the required level of capital under the revised method of calculation, always subject to the minimum of Euro 750 million. 
 2. ANNUAL CALCULATION. Prior to December 31st of each calendar year in which this Agreement is in effect, PartnerRe Europe shall calculate its surplus levels as regards policy holders (the “Annual Calculation”). In
the event that the Annual Calculation is less than 150% of the Solvency Margin, or the Statutory Capital of PartnerRe Europe is less than Euro 750 million, PartnerRe shall cause PartnerRe Europe to have sufficient funds to make whole any
shortfall. PartnerRe or such designated subsidiary will make such Contribution within ninety (90) days after the determination that either the Annual Calculation is less than 150% of the Solvency Margin or the Statutory Capital is less than
Euro 750 million and proper notice has been provided to PartnerRe. 
 3. AGGREGATE LIMIT. The sum of all
Contributions made by PartnerRe under this Agreement shall in aggregate not exceed a total of Euro 750 million during the entire period in which this Agreement is in effect. 
 4. WAIVERS. PartnerRe hereby waives any failure or delay on the part of PartnerRe Europe, in asserting or enforcing any of its rights or in
making any claims or demands hereunder. 
 5. 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) PartnerRe contributes to PartnerRe Europe the full Aggregate Limit
as provided in Article 4 herein; or (iii) PartnerRe terminates this Agreement immediately upon written notice to PartnerRe Europe in the event of the sale or transfer of a majority of PartnerRe Europe’s stock to an entity not affiliated
with PartnerRe. 
 This Agreement may be amended at any time by written amendment or agreement signed by all of the parties hereto.

 In the event PartnerRe decides to either amend or terminate this Agreement as provided herein, PartnerRe shall provide written notice to
PartnerRe Europe’s Compliance Manager within ten (10) days, at the address set forth below: 
 6. 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: 
  

 2 

			
	If to PartnerRe:	 	PartnerRe Ltd.
		 	Wellesley House South, 5th Floor
		 	90 Pitts Bay Road
		 	Pembroke HM 08
		 	Bermuda
		
	If to PartnerRe Europe:	 	
		 	5th Floor, Block 1
		 	The Oval
		 	160 Shelbourne Road
		 	Dublin 4, Ireland

 7. ARBITRATION. All unresolved differences of opinion or all and any disputes between
PartnerRe and PartnerRe Europe 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 advisers, the
arbitrators shall be appointed by the nominating committee for the time being of the Chartered Institute of Arbitrators Bermuda Branch. 
 8. COUNTERPARTS. This Agreement may be executed and delivered in one or more counterparts , including counterparts delivered by facsimile or such electronic or digital format or otherwise, each of which shall constitute an original
document, and all of which taken together shall constitute one and the same instrument. A party providing its signature by facsimile, or such electronic or digital format or otherwise shall promptly forward to the other party an original of the
executed copy of this Agreement which was so delivered by facsimile or other means. 
 9. GOVERNING LAW. This Agreement shall be
governed by the laws of Bermuda. 
  

 3 

 IN WITNESS WHEREOF this Agreement has been entered into on the date first above written 
  

			
	 PARTNERRE LTD.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 PARTNER REINSURANCE EUROPE LIMITED.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]