<SEC-DOCUMENT>0001299933-17-000017.txt : 20170105
<SEC-HEADER>0001299933-17-000017.hdr.sgml : 20170105
<ACCEPTANCE-DATETIME>20170105160652
ACCESSION NUMBER:		0001299933-17-000017
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20161231
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170105
DATE AS OF CHANGE:		20170105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RENAISSANCERE HOLDINGS LTD
		CENTRAL INDEX KEY:			0000913144
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				980138020
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14428
		FILM NUMBER:		17510659

	BUSINESS ADDRESS:	
		STREET 1:		RENAISSANCE HOUSE
		STREET 2:		12 CROW LANE
		CITY:			PEMBROKE
		STATE:			D0
		ZIP:			HM19
		BUSINESS PHONE:		4412954513

	MAIL ADDRESS:	
		STREET 1:		RENAISSANCE HOUSE
		STREET 2:		12 CROW LANE
		CITY:			PEMBROKE
		STATE:			D0
		ZIP:			HM19
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_54455.htm
<DESCRIPTION>LIVE FILING
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<TITLE> RenaissanceRe Holdings Ltd. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	&nbsp;
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	December 31, 2016
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	RenaissanceRe Holdings Ltd.
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<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	Bermuda
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	001-14428
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	98-0141974
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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______________<BR>
	(I.R.S. Employer
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	of incorporation)
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	File Number)
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	Identification No.)
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	Renaissance House, 12 Crow Lane, Pembroke, Bermuda
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	&nbsp;
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	HM 19
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_________________________________<BR>
	(Address of principal executive offices)
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	&nbsp;
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___________<BR>
	(Zip Code)
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	Registrant&#146;s telephone number, including area code:
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	(441) 295-4513
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
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[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement.</B>
</FONT>

<P align="left" style="font-size: 11pt">Effective December&nbsp;31, 2016, Citibank Europe plc (&#147;CEP&#148;), Renaissance Reinsurance Ltd. (&#147;RRL&#148;),
DaVinci Reinsurance Ltd. (&#147;DaVinci&#148;), ReinassanceRe Specialty U.S. Ltd. (&#147;RRS&#148;), Renaissance
Reinsurance of Europe (&#147;ROE&#148;) and Renaissance Reinsurance U.S. Inc. (formerly Platinum Underwriters
Reinsurance, Inc.) (&#147;RRUS&#148;) (each of RRL, DaVinci, RRS, ROE and RRUS a &#147;Company&#148; and, collectively,
the &#147;Companies&#148;) entered into an amendment (the &#147;Amendment&#148;) to the existing secured letter of
credit facility (the &#147;Facility&#148;) provided pursuant to the facility letter, by and among CEP and the
Companies, dated September&nbsp;17, 2010 (the &#147;Original Facility Letter&#148;) and amended July&nbsp;14, 2011,
October&nbsp;1, 2013, December&nbsp;23, 2014, March&nbsp;31, 2015, December&nbsp;31, 2015 and January&nbsp;14, 2016, to
extend the termination date of the Facility from December&nbsp;31, 2017 to December&nbsp;31, 2018 (as so
amended, the &#147;Facility Letter&#148;).


<P align="left" style="font-size: 11pt">The Facility provides a commitment from CEP to issue letters of credit for the account of one or
more of the Companies and their respective subsidiaries in multiple currencies and in an aggregate
amount of up to $300&nbsp;million, subject to a sublimit of $60&nbsp;million for letters of credit issued for
the account of RRS and a sublimit of $25&nbsp;million for letters of credit issued for the account of
RRUS.&nbsp;&nbsp;The Facility is evidenced by the Facility Letter and five separate Master Agreements between
CEP and each of the Companies, as well as certain ancillary agreements, the terms of which are
substantially similar for each Company.


<P align="left" style="font-size: 11pt">Under the Facility, each of the Companies is severally obligated to pledge to CEP at all times
during the term of the Facility certain securities with a collateral value (as determined as
therein provided) that equals or exceeds 100% of the aggregate amount of its thenoutstanding
letters of credit. In the case of an event of default under the Facility with respect to a Company,
CEP may exercise certain remedies with respect to such Company, including terminating its
commitment to such Company under the Facility and taking certain actions with respect to the
collateral pledged by such Company (including the sale thereof).&nbsp;&nbsp;In the Facility Letter, each
Company makes, as to itself, representations and warranties that are customary for facilities of
this type and severally agrees that it will comply with certain informational and other
undertakings, including those regarding the delivery of quarterly and annual financial statements.


<P align="left" style="font-size: 11pt">The description of the Facility contained herein is qualified in its entirety by reference to the
Original Facility Letter, a copy of which is attached as Exhibit&nbsp;10.1 to the Current Report on Form
8-K, dated September&nbsp;23, 2010, previously filed with Securities and Exchange Commission by
RenaissanceRe Holdings Ltd. (&#147;RenaissanceRe&#148;) and to the Amendment, a copy of which is attached
hereto as Exhibit&nbsp;10.1, both of which agreements are incorporated herein by reference.


<P align="left" style="font-size: 11pt">CEP and RRL are also parties, respectively, to a Letter of Credit Reimbursement Agreement, dated as
of November&nbsp;23, 2015, as amended, and certain ancillary documents, and to an Insurance Letters of
Credit &#150; Master Agreement, dated as of November&nbsp;24, 2014, and certain ancillary agreements, which
each collectively provide for and secure two separate uncommitted letter of credit facilities that
are used to support business written by RenaissanceRe&#146;s Lloyd&#146;s syndicate, Syndicate 1458.


<P align="left" style="font-size: 11pt"><B>Item&nbsp;2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of the Registrant.</B>


<P align="left" style="font-size: 11pt">The disclosure set forth in Item&nbsp;1.01 above is hereby incorporated by reference.


<P align="left" style="font-size: 11pt"><B>Item&nbsp;7.01. Regulation&nbsp;FD Disclosure.</B>


<P align="left" style="font-size: 11pt">On January&nbsp;3, 2017, RenaissanceRe issued a press release announcing the formation of Fibonacci
Reinsurance Ltd. (&#147;Fibonacci Re&#148;), a Special Purpose Insurer domiciled in Bermuda. Fibonacci Re was
formed to provide collateralized capacity to RRL, the principal Bermuda-based reinsurance
subsidiary of RenaissanceRe. A copy of the press release is furnished herewith as Exhibit&nbsp;99.1.


<P align="left" style="font-size: 11pt">The information in Item&nbsp;7.01 of this Form 8-K and Exhibit&nbsp;99.1 attached hereto is being furnished
and shall not be deemed &#147;filed&#148; for the purposes of Section&nbsp;18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that Section and shall not be
incorporated by reference into any registration statement or other document pursuant to the
Securities Act of 1933, except as otherwise expressly stated in such filing.


<P align="left" style="font-size: 11pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>


<P align="left" style="font-size: 11pt">(d)&nbsp;&nbsp;Exhibits.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">10.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amendment to Facility Letter, dated December&nbsp;31, 2016, by and among Citibank Europe plc,
Renaissance Reinsurance Ltd., DaVinci Reinsurance Ltd., Renaissance Reinsurance of Europe,
RenaissanceRe Specialty U.S. Ltd. and Renaissance Reinsurance U.S. Inc.</TD>
</TR>

</TABLE>


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<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Press release dated January&nbsp;3, 2017.</TD>
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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
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	RenaissanceRe Holdings Ltd.
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	&nbsp;&nbsp;
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<I>
	January 5, 2016
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	By:
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	/s/ Stephen H. Weinstein
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<I>
	Name: Stephen H. Weinstein
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<I>
	Title: SVP, Group General Counsel & Corporate Secretary
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	Exhibit&nbsp;Index
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	Exhibit No.
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	Description
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	10.1
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	&nbsp;
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Amendment to Facility Letter, dated December 31, 2016, by and among Citibank Europe plc, Renaissance Reinsurance Ltd., DaVinci Reinsurance Ltd., Renaissance Reinsurance of Europe, RenaissanceRe Specialty U.S. Ltd. and Renaissance Reinsurance U.S. Inc.
</FONT>
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	99.1
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	&nbsp;
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Press release dated January 3, 2017.
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<DOCUMENT>
<TYPE>EX-10.1
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<FILENAME>exhibit1.htm
<DESCRIPTION>EX-10.1
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 11pt"><B>EXHIBIT 10.1</B></FONT>


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    <TD align="left" valign="top">FROM:<BR>
TO:<BR>
DATE:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Citibank Europe plc (the &#147;<B>Bank</B>&#148;)<BR>
Renaissance Reinsurance Ltd., DaVinci Reinsurance Ltd. (the &#147;<B>Original<BR>
Companies</B>&#148;) and RenaissanceRe Specialty U.S. Ltd., Renaissance<BR>
Reinsurance of Europe, and Renaissance Reinsurance U.S. Inc. (formerly<BR>
Platinum Underwriters Reinsurance, Inc.) (the &#147;<B>Additional Companies</B>&#148;<BR>
and, together with the Original Companies, the &#147;<B>Companies</B>&#148;)<BR>
31st December, 2016</DIV></TD>
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<P align="left" style="font-size: 11pt">Ladies and Gentlemen,


<P align="left" style="font-size: 11pt"><B>The Facility Letter dated 17 September&nbsp;2010 between (1)&nbsp;the Bank and (2)&nbsp;the Companies regarding a
committed letter of credit issuance facility in a maximum aggregate amount of USD 300,000,000, as
amended by Letter Amendment dated 14</B><sup><B>th</B></sup><B> July&nbsp;2011, 1</B><sup><B>st</B></sup><B> October, 2013,
23</B><sup><B>rd</B></sup><B> December&nbsp;2014 and 31</B><sup><B>st</B></sup><B> March&nbsp;2015, 30</B><sup><B>th</B></sup><B> December&nbsp;2015 and
14</B><sup><B>th</B></sup><B> January&nbsp;2016 and as may be further amended, varied, supplemented, novated or
assigned from time to time (the &#147;Facility Letter&#148;).</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We refer to the Facility Letter. Capitalised terms used in this letter shall have the
meanings given to them in the Facility Letter (including where defined in the Facility Letter
by reference to another document).</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The following amendments shall take effect on and from the date that the Bank receives this
letter duly executed by the Companies (&#147;<B>Effective Date</B>&#148;).</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Bank and the Companies agree, for good and valuable consideration, the receipt and legal
sufficiency of which are hereby acknowledged, that as effective from the date of this letter:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Clause 1.1 of the Facility Letter shall be amended and restated in its entirety
as follows:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Further to recent conversations, Citibank Europe plc (the &#147;<B>Bank</B>&#148;) is pleased to
provide a committed letter of credit issuance facility (the &#147;<B>Facility</B>&#148;) up until
31 December&nbsp;2018 (the &#147;<B>Termination Date</B>&#148;) to the Companies subject to the terms
and conditions set out in this Letter. Unless otherwise defined herein,
capitalised terms used in this Letter are as defined in Clause 14.&#148;</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as expressly amended by this letter, the Facility Letter remains unmodified and in
full force and effect. In the event of a conflict or inconsistency between the terms of this
letter and the terms of the Facility letter, the terms of this letter shall prevail.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions contained in clause 6, Interest, and clause 7, Fees, in the Facility Letter
shall apply in relation to the amendments agreed pursuant to the terms of this letter. Each
party to this letter shall bear its own costs and expenses in relation to the amendments
agreed pursuant to the terms of this letter.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On the date of this letter and on the Effective Date, each Original Company, as to itself,
hereby confirms to the Bank that the representations and warranties set forth in clause 8 of
the Facility Letter are true.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With effect from the Effective Date of this letter, the terms and conditions of the Facility
Letter shall be read and construed by reference to this letter and all references to the
Facility Letter shall be deemed to incorporate the relevant amendments contained within this
letter.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This letter may be executed in counterparts, each of which shall be deemed to be an original,
and all such counterparts taken together shall constitute one and the same agreement. This
letter and any non-contractual obligations arising in connection with it shall be governed by
English law and the provisions of Clause 16 (Governing Law) of the Facility Letter shall be
incorporated, with any necessary changes, as if set out in full in this letter. No person
shall have any right to enforce any provision of this letter under the Contracts (Rights of
Third Parties) Act 1999.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Please indicate your agreement to the foregoing by countersigning the attached copy of this
letter and returning the same to us.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 11pt">&#091;signature page follows&#093;



<P align="left" style="font-size: 11pt">For and of behalf of
<BR>
<B>Citibank Europe plc</B>


<P align="left" style="font-size: 11pt">/s/ Niall Tuckey<BR>
Name: Niall Tuckey<BR>
Title: Director<BR>


<P align="left" style="font-size: 11pt">We agree to the terms set out in this letter.


<P align="left" style="font-size: 11pt">For and of behalf of
<BR>
<B>Renaissance Reinsurance Ltd.</B>


<P align="left" style="font-size: 11pt">/s/ Mark A. Wilcox<BR>
Name: Mark A. Wilcox<BR>
Title: Senior Vice President<BR>


<P align="left" style="font-size: 11pt">For and of behalf of
<BR>
<B>DaVinci Reinsurance Ltd.</B>


<P align="left" style="font-size: 11pt">/s/ Aditya K. Dutt<BR>
Name: Aditya K. Dutt<BR>
Title: President<BR>


<P align="left" style="font-size: 11pt">For and of behalf of
<BR>
<B>RenaissanceRe Specialty U.S. Ltd.</B>


<P align="left" style="font-size: 11pt">/s/ David Marra<BR>
Name: David Marra<BR>
Title: President<BR>


<P align="left" style="font-size: 11pt">For and of behalf of
<BR>
<B>Renaissance Reinsurance of Europe</B>


<P align="left" style="font-size: 11pt">/s/ Sean Brosnan<BR>
Name: Sean Brosnan<BR>
Title: Managing Director<BR>


<P align="left" style="font-size: 11pt">For and of behalf of
<BR>
<B>Renaissance Reinsurance U.S. Inc.</B>


<P align="left" style="font-size: 11pt">/s/ James M. Conway<BR>
Name: James M. Conway<BR>
Title: Senior Vice President<BR>



<P align="center" style="font-size: 10pt; display: none">




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<TYPE>EX-99.1
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<DESCRIPTION>EX-99.1
<TEXT>
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<TITLE> EX-99.1 </TITLE>
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>EXHIBIT 99.1</B></FONT>



<P align="center" style="font-size: 12pt"><img src="e43295-175130433656d2ca6c_1.jpg">



<P align="center" style="font-size: 12pt"><B><I>RenaissanceRe Announces the Formation of Fibonacci Re</I></B>



<P align="left" style="font-size: 12pt"><FONT style="font-size: 11pt"><B>PEMBROKE, Bermuda, January&nbsp;3, 2017&#151; </B>Renaissance Reinsurance Ltd. (&#147;Renaissance Reinsurance&#148;)
today announced the formation of Fibonacci Reinsurance Ltd. (&#147;Fibonacci Re&#148;), a Special Purpose
Insurer domiciled in Bermuda. Fibonacci Re was formed to provide collateralized capacity to
Renaissance Reinsurance, the principal Bermuda-based&nbsp;reinsurance subsidiary of RenaissanceRe
Holdings Ltd. (NYSE: RNR) (the &#147;Company&#148; or &#147;RenaissanceRe&#148;). &nbsp;Fibonacci Re, which has raised $140m
of capital from third party investors and RenaissanceRe Medici Fund Ltd., has issued participating
notes which will be listed on the Bermuda Stock Exchange. This arrangement enables Renaissance
Reinsurance to support its clients with additional property catastrophe reinsurance capacity.
</FONT>
&nbsp;

<P align="left" style="font-size: 11pt">This release is not an offer of securities for sale into the United States or elsewhere.&nbsp;No
securities may be offered or sold in the United States absent registration or an exemption from, or
in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1933,
as amended<I>.</I>


<P align="left" style="font-size: 11pt">RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance. The Company&#146;s
business consists of two reportable segments: (1)&nbsp;Property, which is comprised of catastrophe
reinsurance, including certain property catastrophe joint ventures managed by our ventures unit,
and other property reinsurance and insurance and (2)&nbsp;Casualty and Specialty, which is comprised of
casualty and specialty reinsurance and insurance and certain specialty joint ventures managed by
our ventures unit.


<P align="left" style="font-size: 11pt"><B>Cautionary Statement Regarding Forward Looking Statements</B>


<P align="left" style="font-size: 11pt">Any forward-looking statements made in this Press Release reflect RenaissanceRe&#146;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 following: the frequency and severity of
catastrophic and other events that the Company covers; the effectiveness of the Company&#146;s claims
and claim expense reserving process; the Company&#146;s ability to maintain its financial strength
ratings; the effect of climate change on the Company&#146;s business; the effect of emerging claims and
coverage issues; the Company&#146;s reliance on a small and decreasing number of reinsurance brokers and
other distribution services for the preponderance of its revenue; the Company&#146;s exposure to credit
loss from counterparties in the normal course of business; the effect of continued challenging
economic conditions throughout the world; continued soft reinsurance underwriting market
conditions; a contention by the Internal Revenue Service that Renaissance Reinsurance Ltd., or any
of the Company&#146;s other Bermuda subsidiaries, is subject to U.S. taxation; the performance of the
Company&#146;s investment portfolio; the Company&#146;s ability to successfully implement its business
strategies and initiatives; the Company&#146;s ability to retain key senior officers and to attract or
retain the executives and employees necessary to manage its business; the Company&#146;s ability to
determine the impairments taken on investments; the availability of retrocessional reinsurance on
acceptable terms; the effect of inflation; the adequacy of the Company&#146;s ceding companies&#146; ability
to assess the risks they underwrite; the effect of operational risks, including system or human
failures; the Company&#146;s ability to effectively manage capital on behalf of investors in joint
ventures or other entities it manages; foreign currency exchange rate fluctuations; uncertainties
related to the vote in the United Kingdom to leave the European Union; the Company&#146;s ability to
raise capital if necessary; the Company&#146;s ability to comply with covenants in its debt agreements;
changes to the regulatory systems under which the Company operates; challenges to the claim of
exemption from insurance regulation of RenaissanceRe and its subsidiaries and increased global
regulation of the insurance and reinsurance industry; losses that the Company could face from
terrorism, political unrest or war; the Company&#146;s dependence on the ability of its operating
subsidiaries to declare and pay dividends; the success of any of the Company&#146;s strategic
investments or acquisitions, including the Company&#146;s ability to manage its operations as its
product and geographical diversity increases; the effect of cybersecurity risks, including
technology breaches or failure on the Company&#146;s business; aspects of the Company&#146;s corporate
structure that may discourage third party takeovers or other transactions; the cyclical nature of
the reinsurance and insurance industries; adverse legislative developments that reduce the size of
the private markets the Company serves or impede their future growth; regulatory or legislative
changes adversely impacting the Company; the effect on the Company&#146;s business of the highly
competitive nature of its industry, including the effect of new entrants to, competing products for
and consolidation in the (re)insurance industry; consolidation of customers or insurance and
reinsurance brokers; adverse tax developments, including potential changes to the taxation of
inter-company or related party transactions, or changes to the tax treatment of investors in
RenaissanceRe or joint ventures or other entities the Company manages; changes in regulatory
regimes and/or accounting rules, including the European Union directive concerning capital
adequacy, risk management and regulatory reporting for insurers; the Company&#146;s need to make many
estimates and judgments in the preparation of its financial statements; and other factors affecting
future results disclosed in RenaissanceRe&#146;s filings with the SEC, including its Annual Reports on
Form 10-K and Quarterly Reports on Form 10-Q.


<P align="center" style="font-size: 11pt">###



<P align="left" style="font-size: 11pt">Source: RenaissanceRe Holdings Ltd.


<P align="left" style="font-size: 11pt">Investors:
<BR>
RenaissanceRe Holdings Ltd.
<BR>
Aditya Dutt, 441-239-4778
<BR>
Senior Vice President, Treasurer


<P align="left" style="font-size: 11pt">or


<P align="left" style="font-size: 11pt">Media:
<BR>
RenaissanceRe Holdings Ltd.
<BR>
Elizabeth Tillman, 212-238-9224
<BR>
Director &#150; Communications
<BR>
or
<BR>
Kekst and Company
<BR>
Peter Hill or Dawn Dover, 212-521-4800



<P align="center" style="font-size: 10pt; display: none">




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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
