RenaissanceRe Holdings Ltd. Announces Thirtieth Consecutive Annual Increase in Quarterly Dividend and Renewal of Share Repurchase Program

Rhea-AI Summary

RenaissanceRe Holdings (NYSE: RNR) has announced its thirtieth consecutive annual dividend increase, raising the quarterly dividend from $0.39 to $0.40 per common share. The dividend will be payable on March 31, 2025, to shareholders of record on March 14, 2025.

Additionally, the company's Board of Directors has approved a renewal of its share repurchase program with a total authorization of $750.0 million, including remaining amounts from previous authorizations. The program allows RenaissanceRe to repurchase shares through open market purchases and private negotiations, with timing and execution dependent on market conditions and capital requirements.

Positive

• 30-year consistent track record of annual dividend increases
• 2.6% quarterly dividend increase from $0.39 to $0.40 per share
• Substantial $750.0 million share repurchase authorization

Negative

• None.

Insights

Financial Analyst

RenaissanceRe's dual announcement carries significant weight for investors, particularly in the context of the reinsurance industry's current dynamics. The 30-year consecutive dividend increase streak places RNR in an elite category of dividend aristocrats within the financial sector, demonstrating exceptional capital management through multiple market cycles, including major catastrophe events and financial crises.

The new quarterly dividend of $0.40 per share, while representing a modest 2.6% increase, reflects a prudent balance between shareholder returns and capital retention for underwriting opportunities. This conservative approach is particularly relevant given the current hard market conditions in reinsurance, where maintaining underwriting capacity is important for capitalizing on higher premium rates.

The $750.0 million share repurchase authorization is strategically significant, representing approximately 6.4% of the company's market capitalization. This substantial authorization provides management with valuable flexibility to opportunistically return capital when market conditions are favorable, while maintaining the ability to preserve capital for underwriting opportunities. The timing of this renewal suggests confidence in the company's capital position despite the industry's challenging risk landscape.

The combination of consistent dividend growth and share repurchase capacity indicates a robust capital management strategy that balances three critical objectives: maintaining financial strength for underwriting operations, providing reliable income to long-term shareholders and opportunistically enhancing shareholder value through repurchases when appropriate.

PEMBROKE, Bermuda--(BUSINESS WIRE)-- The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) today voted to increase the Company’s quarterly dividend to $0.40 per common share, from $0.39 per common share.

The Company has increased its dividend during each of the thirty years since its initial public offering. The dividend is payable on March 31, 2025, to shareholders of record on March 14, 2025.

In addition, the Board of Directors approved a renewal of RenaissanceRe’s authorized share repurchase program, bringing the total current authorization up to $750.0 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 desirable risk with efficient 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, Canada, 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/20250205813345/en/

Investor Contact:

RenaissanceRe Holdings Ltd.

Keith McCue

Senior Vice President, Finance & Investor Relations

441-239-4830

Media Contacts:

RenaissanceRe Holdings Ltd.

Hayden Kenny

Senior Vice President, Investor Relations & Communications

441-239-4946

Kekst CNC

Nicholas Capuano

917-842-7859

Source: RenaissanceRe Holdings Ltd.

FAQ

What is RenaissanceRe's new quarterly dividend amount for 2025?

RenaissanceRe's new quarterly dividend is $0.40 per common share, increased from $0.39, payable on March 31, 2025.

How much is RNR's new share repurchase authorization?

RenaissanceRe's Board approved a share repurchase program with a total authorization of $750.0 million.

When will RNR's increased dividend be paid to shareholders?

The dividend will be paid on March 31, 2025, to shareholders of record as of March 14, 2025.

How many consecutive years has RNR increased its dividend?

RenaissanceRe has increased its dividend for 30 consecutive years since its initial public offering.

How will RNR execute its share repurchase program?

RenaissanceRe can repurchase shares through open market purchases and privately negotiated transactions, based on market price and capital requirements.