PRESS RELEASE ISSUED BY THE COMPANY, DATED 5/20/97
Published on May 23, 1997
EXHIBIT 99.1
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PEMBROKE, Bermuda--May 20, 1997--RenaissanceRe Holdings Ltd. (NYSE: RNR)
announced today that it is contemplating filing a registration statement with
the Securities and Exchange Commission for the sale of approximately 3,000,000
Common Shares in an underwritten secondary offering, subject to market
conditions, at the request of the Company's initial institutional investors.
All of the Common Shares to be sold in the contemplated offering will be sold by
the Company's initial institutional investors.
This press release shall not constitute an offer to sell, or the solicitation of
an offer to buy, any Common Shares. Offers of Common Shares, if any, in
connection with the contemplated offering shall be made only by means of a
prospectus contained in a registration statement to be filed by the Company with
the Securities and Exchange Commission.
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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