PRESS RELEASE
Published on August 7, 1996
EXHIBIT 99.1
RENAISSANCERE APPOINTS NEW DIRECTOR AND DECLARES DIVIDEND
HAMILTON, Bermuda -- August 7, 1996 -- RenaissanceRe Holdings Ltd. (NYSE:RNR)
announced today that Thomas A. Cooper, Chairman, President and Chief Executive
Officer of Chase Federal Bank and Chairman of TAC Bancshares, Inc. was appointed
a director to serve until the 1997 Annual General Meeting of Shareholders.
Mr. Cooper is a nationally-known banker with over 30 years of broad experience
in financial services. He has served as President of Bank of America as well as
Chief Executive Officer of Goldome. He has also headed one of the largest full
service securities brokerage and investment companies in the country; served as
Vice Chairman of Mellon Bank; and was President of Philadelphia's Girard Bank.
Additionally, the Board of Directors of RenaissanceRe Holdings Ltd. today
declared a regular quarterly cash dividend of $0.20 per share on its common
shares, payable on September 4, 1996 to shareholders of record on August 20,
1996.
RenaissanceRe Holdings Ltd., through its subsidiaries Renaissance Reinsurance
Ltd. and Glencoe Insurance Ltd., is a global provider of reinsurance and
insurance. The Company's principal product is property catastrophe reinsurance.