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 announced a quarterly dividend of $0.37 per common share, payable on June 30, 2022, to shareholders of record on June 15, 2022.

Additionally, the Board approved a renewal of the company's share repurchase program, increasing the total authorization to $500 million. This program will continue until the full amount is repurchased, reflecting the company's commitment to enhancing shareholder value.

Positive

• Quarterly dividend of $0.37 per share enhances shareholder returns.
• Renewed share repurchase program with $500 million authorization signals confidence in the company's financial health.

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 June 30, 2022, to shareholders of record on June 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, the Company 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/20220516005770/en/

Investor Contact:

RenaissanceRe Holdings Ltd.

Keith McCue

Senior Vice President, Finance & Investor Relations

441-239-4830

Media Contacts:

RenaissanceRe Holdings Ltd.

Keil Gunther

Senior Vice President, Head of Global Marketing & Client Communication

441-239-4932

Kekst CNC

Dawn Dover

212-521-4800

Source: RenaissanceRe Holdings Ltd.

FAQ

What is the dividend amount announced by RenaissanceRe Holdings Ltd.?

RenaissanceRe announced a quarterly dividend of $0.37 per common share.

When is the dividend payable to shareholders?

The dividend is payable on June 30, 2022, to shareholders of record on June 15, 2022.

What is the total amount of the renewed share repurchase program for RNR?

The total amount of the renewed share repurchase program is $500 million.

How will RenaissanceRe repurchase its shares?

RenaissanceRe may repurchase shares through open market purchases and privately negotiated transactions.

What does the renewed share repurchase program indicate about RenaissanceRe?

The renewed share repurchase program indicates confidence in the company's financial stability and aims to enhance shareholder value.