-- Board of Directors Approves Share Repurchase Program up to an
Aggregate of $500 million --
PEMBROKE, Bermuda--(BUSINESS WIRE)--Feb. 20, 2013--
The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) today
voted to increase the Company's quarterly dividend to $0.28 per common
share on its common stock, from $0.27 per common share.
The Company has increased its dividend during each of the eighteen years
since its initial public offering. The dividend is payable on March 28,
2013 to shareholders of record on March 15, 2013.
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 shares of its common stock 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 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
Source: RenaissanceRe Holdings Ltd.
RenaissanceRe Holdings Ltd.
Director of Investor Relations
Kekst and Company
Peter Hill or Dawn Dover,