PEMBROKE, Bermuda, May 2, 2002 (BUSINESS WIRE) -- RenaissanceRe Holdings Ltd. (NYSE: RNR) today announced that its Board of Directors has approved a three-for-one split of the Company's common stock in the form of a stock dividend. The stock dividend will be paid on May 30, 2002 to shareholders of record on May 16, 2002.

The Board also declared a regular quarterly cash dividend of $0.425 per common share on a pre-split basis ($0.142 per common share on a post-split basis). This cash dividend is also payable on May 30, 2002 to shareholders of record on May 16, 2002.

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 or Dawn Dover   
                  212/521-4800                                

URL:              http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.

Copyright (C) 2002 Business Wire.  All rights reserved.