-- Board of Directors Approves Share Repurchase Program up to an
Aggregate of $500 million --
PEMBROKE, Bermuda--(BUSINESS WIRE)--Feb. 19, 2014--
The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE:RNR) today
voted to increase the Company's quarterly dividend to $0.29 per common
share, from $0.28 per common share.
The Company has increased its dividend during each of the nineteen years
since its initial public offering. The dividend is payable on March 31,
2014 to shareholders of record on March 14, 2014.
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 common shares 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 three reportable segments:
(1) Catastrophe Reinsurance, which includes catastrophe reinsurance and
certain property catastrophe joint ventures managed by the Company’s
ventures unit; (2) Specialty Reinsurance, which includes specialty
reinsurance and certain specialty joint ventures managed by the
Company’s ventures unit; and (3) Lloyd’s, which includes reinsurance and
insurance business written through RenaissanceRe Syndicate 1458.
Source: RenaissanceRe Holdings Ltd.
RenaissanceRe Holdings Ltd.
Rohan Pai, 441-295-4513
of Investor Relations
Kekst and Company
Hill or Dawn Dover, 212-521-4800