Board of Directors Approves Share Repurchase Program up to an
Aggregate of $500 million
PEMBROKE, Bermuda--(BUSINESS WIRE)--Aug. 8, 2013--
The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR)
announced today a quarterly dividend of $0.28 per common share on its
common stock.
The dividend is payable on September 30, 2013 to shareholders of record
on September 13, 2013.
In addition, the Board of Directors approved an increase in
RenaissanceRe's share repurchase program, bringing the total current
authorization to $500 million. This authorization includes the remaining
amounts available under prior authorizations. Under this program,
RenaissanceRe may repurchase shares of its common stock in the open
market 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 two reportable segments:
(i) Reinsurance, which includes catastrophe reinsurance, specialty
reinsurance and certain property catastrophe and specialty joint
ventures managed by the Company's ventures unit, and (ii) Lloyd's, which
includes reinsurance and insurance business written through Syndicate
1458.
Source: RenaissanceRe Holdings Ltd.
Investors:
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