PEMBROKE, Bermuda, Feb 21, 2002 (BUSINESS WIRE) -- RenaissanceRe Holdings Ltd. (NYSE: RNR) today announced the following management appointments:

    --  William I. Riker has been appointed President and Chief
        Operating Officer of RenaissanceRe Holdings, and will retain
        his position as Chief Operating Officer of Renaissance
        Reinsurance Ltd., the principal operating subsidiary of
        RenaissanceRe Holdings. Prior to this promotion, Mr. Riker was
        Executive Vice President of RenaissanceRe Holdings.
    --  David A. Eklund has been appointed President of Renaissance
        Reinsurance, succeeding Mr. Riker. Mr. Eklund will continue as
        Chief Underwriting Officer of Renaissance Reinsurance and as
        Executive Vice President of RenaissanceRe Holdings Ltd.
    --  John D. Nichols, Jr., Senior Vice President of RenaissanceRe
        Holdings, and President of Renaissance Underwriting Managers,
        will now report directly to James N. Stanard, Chairman and
        Chief Executive Officer of RenaissanceRe Holdings Ltd. Mr.
        Nichols is responsible for managing the Company's joint
        venture relationships and structured reinsurance activities.

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance. The Company's principal product is property catastrophe reinsurance.

CONTACT:          Investor: RenaissanceRe Holdings Ltd.
                  Martin J. Merritt, 441/299-7230
                  or
                  Media: Kekst and Company
                  Sarah Zitter Milstein or Dawn Dover
                  212/521-4800

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