PRESS RELEASE
Published on December 23, 1996
Contacts:
Keith S. Hynes John D. Nichols, Jr. Mackenzie Partners, Inc.
Senior Vice President Assistant Vice President Information Agent
and Chief Financial and Treasurer (212) 929-5500 or
Officer (441) 295-4513 (800) 322-2885
(441) 295-4513
Merrill Lynch & Co.
Dealer Manager
(212) 236-4565
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 Common 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 reinsurance and
insurance. The Company's principal product is property catastrophe reinsurance.
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