SC 13G/A: Schedule filed to report acquisition of beneficial ownership of 5% or more of a class of equity securities by passive investors and certain institutions
Published on May 8, 1998
------------------------------
OMB APPROVAL
------------------------------
OMB Number: 3235-0145
Expires: September 30, 1998
Estimated average burden
hours per response.....14.90
------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Amendment No. 5
RenaissanceRe Holdings Ltd.
(Name of Issuer)
Common Shares, par value $1.00 per share
(Title of Class of Securities)
G7496G103
(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 the
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 ("Act") 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).
Page 1 of 7 Pages
- --------------------------- ----------------------------
CUSIP No. G7496G103 13G Page 2 of 7 Pages
----------------- ----- ----
- --------------------------- ----------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Warburg, Pincus Investors, L.P.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,874,966
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
WITH
-0-
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,874,966
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,874,966
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12.6%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
- --------------------------- --------------------------
CUSIP No. G7496G103 13G Page 3 of 7 Pages
----------------- ------ ----
- --------------------------- --------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Warburg, Pincus & Co.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------- ---------------------------------------------------------------------
5 SOLE VOTING POWER
52,162
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,874,966
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 52,162
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,874,966
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,927,128
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.0%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
- -------------------------- --------------------------
CUSIP No. G7496G103 13G Page 4 of 7 Pages
---------------- ----- -----
- -------------------------- --------------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
E.M. Warburg, Pincus & Co., LLC
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
-0-
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,874,966
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,874,966
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,874,966
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12.6%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
This Amendment No. 5 amends the Schedule 13G initially filed by the
Reporting Entities on February 8, 1996 (as amended, the "Schedule 13G"),
relating to the Common Shares, par value $1.00 per share (the "Common Shares"),
of RenaissanceRe Holdings Ltd., a Bermuda company, and is being filed pursuant
to Rule 13d-2 of the General Rules and Regulations under the Securities Exchange
Act of 1934, as amended (the "Exchange Act"). Unless otherwise indicated, all
capitalized terms used but not defined herein shall have the same meaning as set
forth in the Schedule 13G.
Introductory Note.
------------------
The Reporting Entities are hereby reporting a change in their
beneficial ownership of the Common Shares caused by the distribution on April
23, 1998, by Warburg, Pincus Investors ("WPI") of an aggregate of 998,436 Common
Shares to the limited and general partners of WPI. The sole general partner of
WPI, Warburg, Pincus & Co., a New York general partnership ("WP"), in turn
distributed a portion of the shares of Common Stock it received to its partners
(collectively, the "Distribution"). E.M. Warburg, Pincus & Co., LLC, a New York
limited liability company ("EMW LLC"), manages WPI. As a result of the
Distribution, WPI directly owns 2,874,966 Common Shares and WP directly owns
52,162 Common Shares. With respect to such Common Shares now owned directly by
WP, this Amendment is being filed solely to reflect a change in ownership from
indirect to direct.
As a result of such transactions, the percentage of Common Stock that
may be deemed to be beneficially owned by the Reporting Entities has decreased
from 17.3% to 12.6% in the case of WPI and EMW LLC, and from 17.3% to 13.0% in
the case of WP.
Item 4. Ownership
---------
Item 4 of the Schedule 13G is hereby amended by deleting such item in
its entirety and replacing it with the following:
Item 4. Ownership of WP:
---------------
(a) 2,927,128 Common Shares, as of
April 30, 1998.
(b) 13.0%
(c) (i) 52,162
(ii) 2,874,966
(iii) 52,162
(iv) 2,875,966
Page 5 of 7 Pages
Ownership of WPI and EMW LLC:
(a) 2,874,966 Common Shares, as of
April 30, 1998.
(b) 12.6%
(c) (i) -0-
(ii) 2,874,966
(iii) -0-
(iv) 2,874,966
Page 6 of 7 Pages
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.
Dated: May 8, 1998
WARBURG, PINCUS INVESTORS, L.P.
By: Warburg, Pincus & Co.,
General Partner
By: /s/ Stephen Distler
Name: Stephen Distler
Title: Partner
WARBURG, PINCUS & CO.
By: /s/ Stephen Distler
Name: Stephen Distler
Title: Partner
E.M. WARBURG, PINCUS & CO., LLC
By: /s/ Stephen Distler
Name: Stephen Distler
Title: Member
Page 7 of 7 Pages