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Date Filed:
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Total revenues increase from $1.3 billion in 2014 to $2.1 billion in 2018, a 13% compound annual growth rate (“CAGR”);
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Gross premiums written increase from $1.6 billion in 2014 to $3.3 billion in 2018, a CAGR of 21%;
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Growth in shareholders’ equity of approximately 30% over the previous five years;
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Net income available to common shareholders of $2.0 billion, cumulatively since 2013;
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Two successful acquisitions (Platinum Underwriters Holdings, Ltd. in 2015 and Tokio Millennium Re (“TMR”) in 2019), both of which
accelerated the Company’s strategy and were accretive to shareholders;
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Significant diversification of our portfolio to provide more stable long-term returns. For the year ended December 31, 2014,
approximately 69% of our gross premiums written were attributable to our Property segment, while, as of December 31, 2018, we had a much more balanced portfolio, with approximately 53% of our gross premiums written in our Property segment
and 47% of our gross premiums written in our Casualty and Specialty segment;
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Relatively flat operational and corporate expenses over the previous five years, in this era of expansion and diversification;
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Substantial growth in our fee-based operations and enhancement of public disclosure of these important operations; and
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As was pointed out in the ISS report, total shareholder return in 2018 that outperformed our GICS industry peers and the Russell 3000
Index.
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a mid-market independent insurance brokerage, which functions principally as an intermediary rather than a risk-bearing reinsurer or
insurer;
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mortgage insurance companies with strategies and portfolios that differ significantly from those of the Company;
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a real estate services company whose services include title insurance; and
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a company which operates as attorney-in-fact for a reciprocal insurer and whose revenues are principally agent compensation.
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Of the 18 companies in the ISS peer group:
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only two are part of the compensation peer group selected by the Committee; and
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only four include RenaissanceRe in their peer group, including the two referenced above.
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In contrast, of the companies selected by RenaissanceRe for its compensation peer group, all but one also included RenaissanceRe in
their own peer group (of those that disclosed a peer group in their most recent proxy statement).
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