PartnerRe Ltd.'s shareholders gave the go-ahead for the company's takeover of Paris Re at a Special General Meeting held yesterday.

They approved all of the proposals unanimously recommended by the company's board of directors to effect its proposed acquisition of the French-listed, Swiss-based diversified reinsurer.

The proposals PartnerRe shareholders approved included the issuance of PartnerRe common shares in connection with the acquisition and increasing the size of the Board to 12 from 11.