PRESS RELEASE
Published on February 20, 2001
Exhibit 99.1
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FOR IMMEDIATE RELEASE
CONTACT:
Martin J. Merritt
Vice President - Finance
RenaissanceRe Holdings Ltd.
(441) 299-7230
RenaissanceRe Holdings Ltd. Files Registration Statement
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Pembroke, Bermuda, February 16, 2001 -- RenaissanceRe Holdings Ltd. (NYSE: RNR)
today announced that it has filed a registration statement with the Securities
and Exchange Commission relating to the sale of up to 1,726,137 of its common
shares. All of the shares are being offered by the United States Fidelity and
Guaranty Company, an initial institutional founding shareholder of RenaissanceRe
and an indirect wholly owned subsidiary of The St. Paul Companies, Inc. These
shares constitute all of the shares of RenaissanceRe owned by The St. Paul and
its affiliates. The shares may be sold either through a syndicated underwritten
public offering or a block trade.
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission, but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
that the registration statement becomes effective. This press release shall not
constitute an offer to buy or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state. Any offering will be made only by
means of a written prospectus and prospectus supplements meeting the
requirements of Section 10 of the Securities Act of 1933. Any such prospectus
and prospectus supplements, when available, can be obtained by contacting Ann
Linge at Kekst and Company, 437 Madison Avenue, 19th Floor, New York, New York
10022, (212) 521-4831 or by e-mail at ann-linge@kekst.com.
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance.
The Company's principal product is property catastrophe reinsurance.
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