Board of Directors Approves Share Repurchase Program up to an
Aggregate of $500 million
PEMBROKE, Bermuda--(BUSINESS WIRE)--Nov. 13, 2012--
The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR)
announced today a quarterly dividend of $0.27 per common share on its
common stock.
The dividend is payable on December 28, 2012 to shareholders of record
on December 14, 2012.
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 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 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.
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