UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                -----------------

                                  SCHEDULE 13G
                                 (Rule 13d-102)

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (AMENDMENT NO. 1)*


                          RenaissanceRe Holdings, Ltd.
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                                  Common Stock
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                  G7496G 10 3
- --------------------------------------------------------------------------------
                                 (CUSIP Number)


- ---------- 
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

     The information required on the remainder of this cover page shall not be
deemed to be filed for the purpose of Section 18 of the Securities Exchange Act
of 1934 or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).


                                  SCHEDULE 13G
CUSIP No. G7496G 10 3
- --------------------------------------------------------------------------------
1     Name of Reporting Person
      S.S. or I.R.S. Identification No. of Above Person

      Trustees of General Electric Pension Trust
      I.R.S. #14-6015763
- --------------------------------------------------------------------------------
2     Check the Appropriate Box If a Member of a Group*                  a.  |_|
                                                                         b.  |X|
- --------------------------------------------------------------------------------
3     SEC Use Only

- --------------------------------------------------------------------------------
4     Citizenship or Place of Organization

      State of New York
- --------------------------------------------------------------------------------
                  5     Sole Voting Power
  Number of       
   Shares               0
Beneficially            --------------------------------------------------------
  Owned By        6     Shared Voting Power     
    Each                                        
  Reporting             0
   Person               --------------------------------------------------------
    With          7     Sole Dispositive Power  
                                                         
                        0
                        --------------------------------------------------------
                  8     Shared Dispositive Power
                                                
                        0
- --------------------------------------------------------------------------------
9     Aggregate Amount Beneficially Owned by Each Reporting Person

      0
- --------------------------------------------------------------------------------
10    Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|


- --------------------------------------------------------------------------------
11    Percent of Class Represented By Amount in Row (9)

      0.0%
- --------------------------------------------------------------------------------
12    Type of Reporting Person*

      EP
- --------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 2 of 12 pages


                                  SCHEDULE 13G
CUSIP No. G7496G 10 3
- --------------------------------------------------------------------------------
1     Name of Reporting Person
      S.S. or I.R.S. Identification No. of Above Person

      GE Investment Private Placement Partners I, Limited Patnership
      I.R.S. #06-1305217
- --------------------------------------------------------------------------------
2     Check the Appropriate Box If a Member of a Group*                  a.  |_|
                                                                         b.  |X|
- --------------------------------------------------------------------------------
3     SEC Use Only

- --------------------------------------------------------------------------------
4     Citizenship or Place of Organization

      State of Delaware
- --------------------------------------------------------------------------------
                  5     Sole Voting Power
  Number of       
   Shares               0
Beneficially            --------------------------------------------------------
  Owned By        6     Shared Voting Power     
    Each                                        
  Reporting             0
   Person               --------------------------------------------------------
    With          7     Sole Dispositive Power  
                                                         
                        0
                        --------------------------------------------------------
                  8     Shared Dispositive Power
                                                
                        0
- --------------------------------------------------------------------------------
9     Aggregate Amount Beneficially Owned by Each Reporting Person

      0
- --------------------------------------------------------------------------------
10    Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|


- --------------------------------------------------------------------------------
11    Percent of Class Represented By Amount in Row (9)

      0.0%
- --------------------------------------------------------------------------------
12    Type of Reporting Person*

      PN
- --------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 3 of 12 pages


                                  SCHEDULE 13G
CUSIP No. G7496G 10 3
- --------------------------------------------------------------------------------
1     Name of Reporting Person
      S.S. or I.R.S. Identification No. of Above Person

      General Electric Company
      I.R.S. #14-0689340
- --------------------------------------------------------------------------------
2     Check the Appropriate Box If a Member of a Group*                  a.  |_|
                                                                         b.  |X|
- --------------------------------------------------------------------------------
3     SEC Use Only

- --------------------------------------------------------------------------------
4     Citizenship or Place of Organization

      State of New York
- --------------------------------------------------------------------------------
                  5     Sole Voting Power
  Number of       
   Shares               0
Beneficially            --------------------------------------------------------
  Owned By        6     Shared Voting Power     
    Each                                        
  Reporting             Disclaimed (See 9 below)
   Person               --------------------------------------------------------
    With          7     Sole Dispositive Power  
                                                         
                        0
                        --------------------------------------------------------
                  8     Shared Dispositive Power
                                                
                        Disclaimed (See 9 below)
- --------------------------------------------------------------------------------
9     Aggregate Amount Beneficially Owned by Each Reporting Person

      Beneficial ownership of all shares disclaimed by General Electric Company
- --------------------------------------------------------------------------------
10    Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares* |_|


- --------------------------------------------------------------------------------
11    Percent of Class Represented By Amount in Row (9)

      Not applicable
- --------------------------------------------------------------------------------
12    Type of Reporting Person*

      CO
- --------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 4 of 12 pages


            INTRODUCTORY NOTE: This Amendment No. 1 to the Schedule 13G (the
"Schedule") filed on February 13, 1996, on behalf of the Trustees of General
Electric Pension Trust ("GEPT"), an employee pension fund subject to the
Employee Retirement Income Security Act of 1974, and GE Investment Private
Placement Partners I, a Delaware limited partnership ("GEIPPPI") in order to
disclose GEPT's and GEIPPPI's respective holdings of shares of the Common Stock
(the "Common Stock"), par value $1.00 per share, of RenaissanceRe Holdings, Ltd.
(the "Company"). Over the calendar year 1996, all of the Common Stock held by
GEPT and GEIPPPI was repurchased by the Company or exchanged for other
securities of the Company. GEPT and GEIPPPI beneficially own no shares of Common
Stock and expressly disclaim beneficial ownership of Common Stock owned by
filing persons other than itself. GEPT and GEIPPPI also expressly disclaim that
they are members of a "group". General Electric Company disclaims beneficial
ownership of all shares and expressly disclaims that it is a member of a
"group".

Item 1(a) Name of Issuer: RenaissanceRe Holdings, Ltd.

Item 1(b) Address of Issuer's Principal Executive Offices
          48 Church Street
          Sofia House
          Hamilton, Bermuda HM12

Item 2(a) Name of Person Filing:
          Trustees of General Electric Pension Trust
          GE Investment Private Placement Partners I, Limited Partnership
          The General Electric Company
          (See Schedules I and II)

Item 2(b) Address of Principal Business Office or, if none, Residence:

          The address of the principal offices of both
          Trustees of General Electric Pension Trust
          and GE Investment Private Placement Partners
          I is 3003 Summer Street, Stamford,
          Connecticut 06904. The address of the
          principal office of General Electric Company
          is 3135 Easton Turnpike, Fairfield,
          Connecticut 06431.

Item 2(c) Citizenship:
          General Electric Pension Trust - New York
          GE Investment Private Placement Partner I - Delaware
          General Electric Company - New York

Item 2(d) Title of Class of Securities:  Common Stock

Item 2(e) CUSIP Number:  G7496G 10 3
          ------------

Item      3. If this statement is filed pursuant to
          Rules 13d-1(b) or 13d-2(b), check whether
          the person filing is a:

          (a) [ ] Broker or Dealer registered under Section 15 of the Act

          (b) [ ] Bank as defined in section 3(a)(6) of the Act

          (c) [ ] Insurance Company as defined in section 3(a)(19) of the Act


                               Page 5 of 12 pages


          (d) [ ] Investment Company registered under section 8 of the
                  Investment Company Act

          (e) [ ] Investment Advisor registered under section 203 of the
                  Investment Advisers Act of 1940

          (f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
                  provisions of the Employee Retirement Income Security Act of
                  1974 or Endowment Fund; see ss.240.13d-1(b)(1)(ii)(F)

          (g) [ ] Parent Holding Company, in accordance with ss.240.13d-
                  1(b)(1)(ii)(G)

          (h) [X] Group, in accordance with ss.240.13d-1(b)(1)(ii)(H)

Item 4. Ownership.

          (See cover pages and introductory note)

Item 5. Ownership of Five Percent or Less of a Class.
        If this statement is being filed to report
        the fact that as of the date hereof the
        reporting person has ceased to be the
        beneficial owner of more than five percent
        of the class of securities, check the
        following |X|.


Item 6. Ownership of More than Five Percent on Behalf of Another Person.
        Not Applicable.

Item 7. Identification and Classification of the Subsidiary Which Acquired the
        Security Being Reported on By the Parent Holding Company.
        Not Applicable.

Item 8. Identification and Classification of Members of the Group.
        Not Applicable.

Item 9. Notice of Dissolution of Group.
        Not Applicable.


                               Page 6 of 12 pages


Item 10. Certification.

            By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.


                                      TRUSTEES OF GENERAL ELECTRIC PENSION
                                         TRUST


                                      By:  /s/ Alan M. Lewis
                                           -------------------------------------
                                           Alan M. Lewis, Trustee


                                      GE INVESTMENT PRIVATE PLACEMENT
                                         PARTNERS I, LIMITED PARTNERSHIP

                                      By: GE Investment Management Incorporated,
                                      its general partner

                                      By: /s/ Alan M. Lewis
                                           -------------------------------------
                                           Alan M. Lewis, Trustee
                                           Executive Vice President


                                      GENERAL ELECTRIC COMPANY


                                      By: /s/ John H. Myers
                                           -------------------------------------
                                           John H. Myers
                                           Vice President


Dated:  February 14, 1997




                                    SIGNATURE

            After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.


                                      GE INVESTMENT PRIVATE PLACEMENT
                                         PARTNERS I, LIMITED PARTNERSHIP

                                      By: GE Investment Management Incorporated,
                                      its general partner


                                      By: /s/ Alan M. Lewis
                                          --------------------------------------
                                           Alan M. Lewis
                                           Executive Vice President


Dated:  February 14, 1997




                                    SIGNATURE

            After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.


                                       TRUSTEES OF GENERAL ELECTRIC PENSION
                                          TRUST


                                       By: /s/ Alan M. Lewis
                                           -------------------------------------
                                            Alan M. Lewis
                                            Trustee


Dated:  February 14, 1997




                                    SIGNATURE

            After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.


                                       GENERAL ELECTRIC COMPANY



                                       By: /s/ John H. Myers
                                           -------------------------------------
                                            John H. Myers
                                            Vice President


Dated:  February 14, 1997




                                   SCHEDULE I

                             JOINT FILING AGREEMENT

            This will confirm the agreement by and between all the undersigned
that the Schedule 13G on or about this date and any amendments thereto with
respect to the beneficial ownership by the undersigned of shares of the Common
Stock of RenaissanceRe Holdings Ltd. is being filed on behalf of each of the
undersigned.


                                      TRUSTEES OF GENERAL ELECTRIC PENSION
                                         TRUST


                                      By: /s/ Alan M. Lewis
                                          --------------------------------------
                                           Alan M. Lewis, Trustee


                                      GE INVESTMENT PRIVATE PLACEMENT
                                         PARTNERS I, LIMITED PARTNERSHIP

                                      By: GE Investment Management Incorporated,
                                      its general partner


                                      By: /s/ Alan M. Lewis
                                          --------------------------------------
                                           Alan M. Lewis
                                           Executive Vice President


                                      GENERAL ELECTRIC COMPANY


                                      By: /s/ John H. Myers
                                          --------------------------------------
                                           John H. Myers
                                           Vice President


Dated:  February 14, 1997




                                   SCHEDULE II

                                   TRUSTEES OF
                         GENERAL ELECTRIC PENSION TRUST

                        3003 Summer Street, P.O. Box 7900
                           Stamford, Connecticut 06904


                                                                              
           The names of the Trustees of General Electric Pension Trust
                                are as follows:

                                EUGENE K. BOLTON

                               MICHAEL J. COSGROVE

                                 RALPH R. LAYMAN

                                  ALAN M. LEWIS

                              ROBERT A. MACDOUGALL

                                  JOHN H. MYERS

                                 DONALD W. TOREY