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

Rhea-AI Summary

RenaissanceRe Holdings Ltd. (NYSE: RNR) has increased its quarterly dividend to $0.37 per share, up from $0.36. This marks the 27th consecutive annual dividend increase since its IPO. The new dividend is payable on March 31, 2022, to shareholders of record as of March 15, 2022. Additionally, the Board approved an extension of the share repurchase program, raising the total authorization to $500 million. Share repurchases will depend on market conditions and capital needs, showcasing the company's commitment to returning value to shareholders.

Positive

• Quarterly dividend increased to $0.37, indicating strong shareholder value.
• 27 consecutive years of dividend increases, reflecting consistent financial strength.
• Share repurchase program authorization extended to $500 million, indicating confidence in future performance.

Negative

• None.

PEMBROKE, Bermuda--(BUSINESS WIRE)-- The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) today voted to increase the Company’s quarterly dividend to $0.37 per common share, from $0.36 per common share.

The Company has increased its dividend during each of the twenty-seven years since its initial public offering. The dividend is payable on March 31, 2022, to shareholders of record on March 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/20220204005389/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 new dividend amount for RenaissanceRe Holdings Ltd. (RNR)?

The new dividend amount is $0.37 per common share.

When is the dividend payable to shareholders of RNR?

The dividend is payable on March 31, 2022, to shareholders of record on March 15, 2022.

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

The total amount authorized for the share repurchase program is $500 million.

How many consecutive years has RenaissanceRe increased its dividend?

RenaissanceRe has increased its dividend for 27 consecutive years.