PRESS RELEASE
Published on January 7, 1997
Exhibit 99.1
RENAISSANCERE HOLDINGS LTD. EXPANDS BOARD
PEMBROKE, Bermuda--December 23, 1996-- The shareholders of RenaissanceRe
Holdings Ltd. (NYSE: RNR) at a Special General Meeting today voted to expand the
Company's Board of Directors to eleven members from nine members, approved the
issuance of diluted voting shares, a new series of capital shares of the
Company, and approved certain corporate governance changes.
The Board of Directors of the Company, subsequent to the Special General
Meeting, appointed Sidney Lapidus, John C. Sweeney and David A. Tanner to the
Board of Directors of the Company effective today. Sidney Lapidus and David A.
Tanner are Managing Directors of E.M. Warburg, Pincus & Co., Inc. John C.
Sweeney is a Senior Vice President and Chief Investment Officer of USF&G and
Chairman of Falcon Asset Management, USF&G's asset management subsidiary.
RenaissanceRe Holdings Ltd., through its subsidiaries Renaissance Reinsurance
Ltd. and Glencoe Insurance Ltd., is a global provider of insurance and
reinsurance. The Company's principal product is property catastrophe
reinsurance.
CONTACT: Keith S. Hynes John D. Nichols, Jr.
Senior Vice President Assistant Vice President
and Chief Financial Officer and Treasurer
(441) 295-4513 (441) 295-4513
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