RenaissanceRe Agrees to Sell U.S.-Based Weather and Energy Unit to Munich Re
Kevin O’Donnell, CEO of
Mr. O’Donnell added: “Munich Re has been working with REAL for over three years as a risk capacity provider, and we are pleased to consummate this transaction with a valued long-term trading partner.”
Neither the sale of nor the results from the unit are material to
The transaction is expected to close in the fourth quarter of 2013, and is subject to regulatory approvals and customary closing conditions.
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the Company's future business prospects. These statements may be
considered "forward-looking." These statements are subject to risks and
uncertainties that could cause actual results to differ materially from
those set forth in or implied by such forward-looking statements. For
further information regarding cautionary statements and factors
affecting future results, please refer to RenaissanceRe Holdings Ltd.’s
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the year ended December 31, 2012 and
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2013 and
Source:
Investors:
RenaissanceRe Holdings Ltd.
Rohan
Pai, 441-295-4513
or
Media:
Kekst
and Company
Peter Hill or Dawn Dover, 212-521-4800