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RenaissanceRe Holdings Ltd. Announces Sixteenth Consecutive Annual Increase in Quarterly Dividend

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^{Published in Business and Finance on Wednesday, February 23rd 2011 at 13:35 GMT by Market Wire}  

PEMBROKE, Bermuda--([ BUSINESS WIRE ])--The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) today voted to increase the Company's quarterly dividend to $0.26 per common share on its common stock, from $0.25 per common share.

The Company has increased its dividend during each of the sixteen years since its initial public offering. The dividend is payable on March 31, 2011 to shareholders of record on March 15, 2011.

In addition, the Board of Directors approved an increase in RenaissanceRe's stock repurchase program, bringing the total current authorization to $500 million. This authorization includes the remainder amounts available under prior authorizations. Under this program, RenaissanceRe may repurchase shares of its common stock in the open market based on, among other things, its ongoing capital requirements and expected cash flows, and the market price of its common shares. The repurchase program does not have an established expiration date.

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance. The Companya™s business consists of three segments: (1) Reinsurance, which includes catastrophe reinsurance, specialty reinsurance and certain property catastrophe and specialty joint ventures managed by the Companya™s ventures unit, (2) Lloyda™s, which includes reinsurance and insurance business written through Syndicate 1458, and (3) Insurance, which principally includes the Companya™s Bermuda-based insurance operations.