The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE:RNR) announced today a quarterly dividend of $0.28 per common share on its common stock.
The dividend is payable on December 31, 2013 to shareholders of record on December 13, 2013.
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 two reportable segments:
(i) Reinsurance, which includes catastrophe reinsurance, specialty
reinsurance and certain property catastrophe and specialty joint
ventures managed by the Company's ventures unit, and (ii) Lloyd's, which
includes reinsurance and insurance business written through Syndicate
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