PEMBROKE, Bermuda, May 28, 2002 (BUSINESS WIRE) -- RenaissanceRe Holdings Ltd. (NYSE: RNR) and its subsidiary companies, Renaissance Reinsurance and Glencoe Insurance have announced the following promotions:

-        Michael W. Cash has been promoted to Senior Vice President -
         Specialty Reinsurance. Mike joined Renaissance in November
         2000 and has over 11 years experience in the reinsurance
         industry. Prior to joining Renaissance, Mike held various
         underwriting positions at Centre Reinsurance and Stockton
         Reinsurance companies. Mike is an Associate of the Casualty
         Actuarial Society.
-        Martin J. Merritt has been promoted to Senior Vice President
         - Finance and will also retain his position as Controller of
         RenaissanceRe Holdings Ltd. Marty joined Renaissance in
         September 1996 and is a C.P.A. Prior to joining Renaissance,
         Marty was employed with Commercial Risk Reinsurance Company.
-        William J. Ashley has been promoted to Senior Vice President
         and will retain his position as Chief Operating Officer of
         Glencoe Insurance. Bill joined the Company in January 2002
         and prior to joining the Company, Bill was Executive Vice
         President of Benfield Blanch. Bill has over 20 years of
         experience in the reinsurance industry and holds the CPCU
         designation.
-        Craig W. Tillman has been promoted to Senior Vice President
         and will retain his position as Chief Underwriting Officer of
         Glencoe. Craig joined the Company in February 1997 as a
         Senior Analyst and while with the Company has managed the
         underwriting modeling department and held various
         underwriting positions. Prior to joining the Company, Craig
         was employed with Dames & Moore Inc. and has over 12 years
         experience in risk analysis with special emphasis on property
         catastrophe modeling. Craig holds the ARM and ARe
         designations.

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance. The Company's principal product is property catastrophe reinsurance.

CONTACT:          Investor Contact:
                  RenaissanceRe Holdings Ltd.
                  Martin J. Merritt 
                  441/299-7230
                  or
                  Media Contact:
                  Kekst and Company
                  Sarah Zitter Milstein / Dawn Dover
                  212/521-4800

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