CONSENT OF ERNST & YOUNG

Published on June 19, 1997



EXHIBIT 23.1

CONSENT OF INDEPENDENT AUDITORS

The Board of Directors
of RenaissanceRe Holdings Ltd.:

We consent to the reference to our firm under the caption "Experts" and to the
use of our report dated January 15, 1997, in Amendment No. 2 to the Registration
Statement (Form S-3 No. 333-27775) and related Prospectus of RenaissanceRe
Holdings Ltd. for the registration of 3,450,000 shares of its common stock. We
also consent to the incorporation by reference therein of our report dated
January 15, 1997 with respect to the financial statement schedules of
RenaissanceRe Holdings Ltd. for the years ended December 31, 1996, 1995 and 1994
included in the Annual Report (Form 10-K) for 1996 filed with the Securities and
Exchange Commission.

Ernst & Young


Hamilton, Bermuda
June 19, 1997