The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) announced today a quarterly dividend of $0.27 per common share on its common stock.
The dividend is payable on September 28, 2012 to shareholders of record on September 14, 2012.
In addition, the Board of Directors approved an increase in RenaissanceRe's share repurchase program, bringing the total current authorization to $500 million. This authorization includes the remaining 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 Company’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 Company’s ventures unit, (2) Lloyd’s, which includes reinsurance and insurance business written through Syndicate 1458, and (3) Insurance, which principally includes the Company’s Bermuda-based insurance operations.