PEMBROKE, Bermuda--(BUSINESS WIRE)--Nov. 27, 2012--
RenaissanceRe Holdings Ltd. (NYSE:RNR) announced today that it has
decided to call 6,000,000 of its outstanding 6.60% Series D Preference
Shares (NYSE: RNRPRD; CUSIP: G7498P 40 8) for mandatory redemption on
December 27, 2012. The redemption price will be $25 per Series D
Preference Share, plus accrued and unpaid dividends to December 27, 2012.
The Depository Trust Company (DTC), the securities’ holder of record,
will determine by random lottery how the partial redemption will be
allocated, in accordance with DTC’s rules and procedures. On and after
the redemption date, the Series D Preference Shares that are redeemed
will no longer be deemed to be outstanding, dividends on such Series D
Preference Shares will cease to accrue, and all rights of the holders of
such Series D Preference Shares will cease, except for the right to
receive the redemption price, without interest thereon, upon surrender
of such Series D Preference Shares.
As of today there are 12,000,000 of the Series D Preference Shares
outstanding, of which 6,000,000 are being called for redemption. The
notice of partial redemption has been mailed to registered holders of
the Series D Preference Shares today. Requests for additional copies of
the notice of partial redemption and the related materials should be
directed to the redemption agent, Computershare, c/o Voluntary Corporate
Actions, at 250 Royall Street, Suite V, Canton, MA 02021.
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and
insurance. The Company’s business consists of three segments: (1)
Reinsurance, which includes catastrophe reinsurance, specialty
reinsurance and certain property catastrophe and specialty joint
ventures, (2) Lloyd’s, which includes reinsurance and insurance business
written through Syndicate 1458, and (3) Insurance, which principally
includes the Company’s Bermuda-based insurance operations.
Cautionary Statement under “Safe Harbor” Provisions of the Private
Securities Litigation Reform Act of 1995: Statements made in this news
release contain information about the Company’s future business plans.
These statements may be considered “forward-looking.” These statements
are subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in or implied by such
forward-looking statements. For further information regarding cautionary
statements and factors affecting future results, please refer to
RenaissanceRe Holdings Ltd.’s filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the year ended
December 31, 2011 and Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2012, June 30, 2012 and September 30, 2012.
Source: RenaissanceRe Holdings Ltd.
Investor:
RenaissanceRe Holdings Ltd.
Rohan Pai, 441-295-4513
Director
of Investor Relations
or
Media:
Kekst and Company
Peter
Hill or Dawn Dover, 212-521-4800