PEMBROKE, Bermuda, Feb 5, 2002 (BUSINESS WIRE) -- The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE:RNR) today voted to increase the Company's quarterly dividend to $0.425 per share on its common shares, from $0.40 per common share. The Company has increased its dividend during each of the seven years since its initial public offering. The dividend is payable on March 5, 2002 to shareholders of record on February 19, 2002.

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

CONTACT:          RenaissanceRe Holdings Ltd.
                  Martin J. Merritt, 441/299-7230

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