RenaissanceRe Holdings Ltd. Announces Eighteenth Consecutive Annual Increase
in Quarterly Dividend
-- Board of Directors Approves Share Repurchase Program up to an Aggregate of
$500 million --
PEMBROKE, Bermuda -- February 20, 2013
The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) today voted
to increase the Company's quarterly dividend to $0.28 per common share on its
common stock, from $0.27 per common share.
The Company has increased its dividend during each of the eighteen years since
its initial public offering. The dividend is payable on March 28, 2013 to
shareholders of record on March 15, 2013.
In addition, the Board of Directors approved an increase in RenaissanceRe's
stock repurchase program, bringing the total current authorization to $500
million. This authorization includes the remainder amounts available under
prior authorizations. Under this program, RenaissanceRe may repurchase shares
of its common stock in the open market or in privately negotiated transactions
based on, among other things, its ongoing capital requirements and expected
cash flows, and the market price of its common shares. The repurchase program
does not have an established expiration date.
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance.
The Company's business consists of two reportable segments: (i) Reinsurance,
which includes catastrophe reinsurance, specialty reinsurance and certain
property catastrophe and specialty joint ventures managed by the Company's
ventures unit, and (ii) Lloyd's, which includes reinsurance and insurance
business written through Syndicate 1458.
RenaissanceRe Holdings Ltd.
Rohan Pai, 441-295-4513
Director of Investor Relations
Kekst and Company
Peter Hill or Dawn Dover, 212-521-4800
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