PEMBROKE, Bermuda--(BUSINESS WIRE)--May 20, 2003--The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE:RNR) has approved a quarterly dividend of $0.15 per common share.

The dividend is payable on June 16, 2003 to shareholders of record on June 2, 2003.

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance.

CONTACT:
RenaissanceRe Holdings Ltd.
Investor:
Martin J. Merritt, 441/299-7230

SOURCE: RenaissanceRe Holdings Ltd.