SC 13G: Schedule filed to report acquisition of beneficial ownership of 5% or more of a class of equity securities by passive investors and certain institutions

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


SCHEDULE 13G


Under the Securities Exchange Act of 1934

(Amendment No. 1)*


RENAISSANCERE HOLDINGS INC.
(Name of Issuer)


Common Stock
(Title of Class of Securities)


G7496G103
(CUSIP Number)


Check the following box if a fee is being paid with this
statement [ ]. (A fee is not required only if the filing person:
(1) has a previous statement on file reporting beneficial
ownership of more than five percent of the class of securities
described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)

*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 in 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).


CUSIP No. G7496G103 13G

1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person

GSB Investment Management, Inc.
301 Commerce Street, Suite 2001
Fort Worth, Texas 76102
I.R.S. Identification No. 75-2508383

2. Check the Appropriate Box if a Member of a Group*
(a) [ ]

(b) [ ]
3. SEC USE ONLY

4. Citizenship or Place of Organization:
State of Texas, Tarrant County, City of Fort Worth

Number of shares beneficially owned by each reporting person with:
5. Sole Voting Power: 1,975
6. Shared Voting Power: N/A
7. Sole Dispositive Power: 2,525
8. Shared Dispositive Power: 14,100

9. Aggregate Amount Beneficially
Owned by Each Reporting Person: 16,625

10. Check Box if the Aggregate Amount
in Row (9) Excludes Certain Shares*: [ ]

11. Percent of Class Represented
by Amount in Row 9: 0.08%

Type or Reporting Person: IA-Investment Advisor



Certification.

By signing below I certify that, to the best of my
(our) knowledge and belief, the securities referred
to above were acquired in the ordinary course of
business and were not acquired for the purpose of and
do not have the effect of changing or influencing the
control of the issuer of such securities and were not
acquired in connection with or as a participant in
any transaction having such purposes or effect.

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: February 9, 2000




By: /s/ Mark J. Stupfel
____________________________________
Mark J. Stupfel, Principal