RenaissanceRe Holdings Ltd. Announces Quarterly Dividend and Renewal of Share Repurchase Program

Rhea-AI Summary

The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) has declared a quarterly dividend of $0.37 per share, payable on September 30, 2022 to shareholders on record as of September 15, 2022. In addition, the Board has renewed its share repurchase program, increasing total authorization to $500.0 million. Shares may be bought back through open market and privately negotiated transactions, depending on market conditions and capital needs, thus potentially enhancing shareholder value.

Positive

• Declared quarterly dividend of $0.37 per share, enhancing shareholder returns.
• Renewal of share repurchase program authorized at $500.0 million, signaling confidence in share value.

Negative

• None.

PEMBROKE, Bermuda--(BUSINESS WIRE)-- The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) (“RenaissanceRe” or the “Company”) announced today a quarterly dividend of $0.37 per common share on its common shares. The dividend is payable on September 30, 2022, to shareholders of record on September 15, 2022.

In addition, the Board of Directors approved a renewal of RenaissanceRe’s authorized share repurchase program, bringing the total current authorization up to $500.0 million, which includes the remaining amounts under prior authorizations. The program will expire when the Company has repurchased the full value of the shares authorized, unless terminated earlier by the Board of Directors. Pursuant to the program, RenaissanceRe may repurchase shares through open market purchases and privately negotiated transactions, and the decision to repurchase common shares will depend on, among other things, the market price of the common shares and the Company’s capital requirements.

About RenaissanceRe

RenaissanceRe is a global provider of reinsurance and insurance that specializes in matching well-structured risks with efficient sources of capital. The Company provides property, casualty and specialty reinsurance and certain insurance solutions to customers, principally through intermediaries. Established in 1993, RenaissanceRe has offices in Bermuda, Australia, Ireland, Singapore, Switzerland, the United Kingdom and the United States.

Cautionary Statement Regarding Forward-Looking Statements

Any forward-looking statements made in this Press Release, including any statements regarding any future results of operations and financial positions, business strategy, plan and any objectives for future operations, reflect RenaissanceRe’s current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous factors that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements, including the factors affecting future results disclosed in RenaissanceRe’s filings with the SEC, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220802005916/en/

Investor Contact:

RenaissanceRe Holdings Ltd.

Keith McCue

Senior Vice President, Finance & Investor Relations

441-239-4830

Media Contacts:

RenaissanceRe Holdings Ltd.

Hayden Kenny

Vice President, Investor Relations & Communications

441-239-4946

Kekst CNC

Dawn Dover

212-521-4800

Source: RenaissanceRe Holdings Ltd.

FAQ

What is the recent dividend declared by RenaissanceRe (RNR)?

RenaissanceRe has declared a quarterly dividend of $0.37 per common share.

When will RenaissanceRe's dividend be paid?

The dividend will be payable on September 30, 2022, to shareholders of record on September 15, 2022.

What is the total amount authorized for RenaissanceRe's share repurchase program?

The total current authorization for the share repurchase program is $500.0 million.

What is the purpose of the share repurchase program by RenaissanceRe?

The share repurchase program aims to enhance shareholder value by buying back shares depending on market conditions.

What factors influence RenaissanceRe's decision to repurchase shares?

The decision to repurchase shares will depend on the market price of the common shares and the company's capital requirements.