PRESS RELEASE
Published on January 7, 1997
Exhibit 99.2
RENAISSANCERE HOLDINGS LTD. COMMENCES TENDER OFFER
PEMBROKE, Bermuda--December 23, 1996-- RenaissanceRe Holdings Ltd. (NYSE: RNR)
today commenced a tender offer to purchase 813,190 Common Shares at a price of
$34.50 per share for an aggregate price of $28.06 million. The Tender Offer will
be made on the terms and subject to the conditions set forth in the Company's
definitive tender offer materials, which are being mailed to shareholders today.
The tender offer will expire on January 22, 1997, unless extended.
The dealer manager for the offer is Merrill Lynch & Co. The information agent
for the tender offer is MacKenzie Partners, Inc. Additional copies of the Offer
to Purchase and Letter of Transmittal may be obtained from the information agent
or the dealer manager.
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.
CONTACTS: 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
Merrill Lynch & Co. MacKenzie Partners Inc.
Dealer Manger Information Agent
(212) 236-4565 (212) 929-5500 or
(800) 322-2815
# # # #