<SEC-DOCUMENT>0001299933-18-000430.txt : 20180516
<SEC-HEADER>0001299933-18-000430.hdr.sgml : 20180516
<ACCEPTANCE-DATETIME>20180516170022
ACCESSION NUMBER:		0001299933-18-000430
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180511
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180516
DATE AS OF CHANGE:		20180516

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:		18840664

	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_56155.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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	May 11, 2018
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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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	&nbsp;
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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
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[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</FONT>
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Emerging growth company [&nbsp;&nbsp;]<br>
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [&nbsp;&nbsp;]<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">On May&nbsp;11, 2018, RenaissanceRe Holdings Ltd. (the &#147;Company&#148;) granted The Vanguard Group, Inc.
(&#147;Vanguard&#148;) a limited waiver from the restrictions on the acquisition of share ownership set forth
in Bye-law 46A of the Company&#146;s Amended and Restated Bye-laws (the &#147;Bye-laws&#148;), up to a maximum
amount of shares representing 15% of the shares of the Company outstanding at any time of
measurement (the &#147;Waiver&#148;). The Waiver is revocable by the Company for any reason upon 30&nbsp;days&#146;
notice.


<P align="left" style="font-size: 11pt">Bye-law 46A provides, among other things, that no Person (as defined in the Bye-Laws) shall be
permitted to own or control shares in the Company to the extent that such ownership or control
would result in such Person or any other Person being a Ten Percent Shareholder (as defined in the
Bye-Laws) or cause the Company to become a &#147;controlled foreign corporation&#148; within the meaning of
Section&nbsp;957 of the U.S. Internal Revenue Code, subject to waiver by the Board of Directors of the
Company in its sole discretion.


<P align="left" style="font-size: 11pt">Vanguard has agreed and acknowledged that, in accordance with the Bye-laws, the voting rights
attributable to the Controlled Shares (as defined in the Bye-laws) owned or controlled by Vanguard
shall not exceed 9.9% of the voting rights attached to all of the issued and outstanding capital
shares of the Company in respect of any vote at any general meeting of the Company for any purpose.


<P align="left" style="font-size: 11pt">The foregoing summary does not purport to be a complete description of all of the provisions of the
Waiver and is qualified in its entirety by reference to the full text of the Waiver, which is
attached as Exhibit&nbsp;10.1 to this Current Report on Form 8-K.


<P align="left" style="font-size: 11pt"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.</B>


<P align="left" style="font-size: 11pt"><U>New Form of Performance Share Award</U>


<P align="left" style="font-size: 11pt">On May&nbsp;14, 2018, the Compensation Committee of the Board of Directors of the Company (the
&#147;Committee&#148;) approved a new form of performance share agreement setting forth the material terms
and conditions of awards of performance shares to be granted pursuant to the Company&#146;s 2016
Long-Term Incentive Plan (the &#147;Plan&#148;). The Committee actively reviews the terms and conditions of
its performance share program at least annually to ensure that it aligns with the Company&#146;s
strategic plan. The Committee recognizes that, as a result of the execution of the Company&#146;s
strategic plan, the Company&#146;s business has evolved since the inception of the performance share
program, including diversification of the Company&#146;s assumed risk portfolio, improvement in the
Company&#146;s operating leverage, organic growth and continued optimization of the duration of the
Company&#146;s investment portfolio. As a result, the Committee has determined that it is in the best
interests of the Company to adopt a new form of performance share agreement to re-align the metrics
of the performance share program to better reflect the Company&#146;s current business, risk and
investment portfolios.


<P align="left" style="font-size: 11pt">Performance shares granted under the new form of performance share agreement will be earned in
three equal annual installments based upon the Company&#146;s growth in tangible book value per share
plus accumulated dividends during each calendar year performance period and will vest at the end of
a three-year service period, subject to the participant&#146;s continued service with the Company.


<P align="left" style="font-size: 11pt">In addition, the new form provides that in the event of industry-wide losses during a performance
period of a significant specified magnitude, if the Company&#146;s performance against its modeled
outcomes for such an event are within the acceptable modeled range, the Committee will have the
discretion to award performance shares to the participant in an amount not to exceed a set
percentage (currently 25%) of the &#147;target&#148; payout for the vesting tranche for the performance
period that includes such industry losses.


<P align="left" style="font-size: 11pt">Furthermore, in the event of a change in control of the Company in which the performance shares are
not assumed or substituted: (i)&nbsp;with respect to any vesting tranche for which the performance
period has not yet commenced as of the date of the consummation of such change in control, the
number of performance shares associated with the &#147;target&#148; achievement level for such vesting
tranche will be deemed to be earned, and (ii)&nbsp;with respect to the vesting tranche for the
performance period that includes the date of the change in control, the performance shares in such
vesting tranche will be earned based upon the Company&#146;s total shareholder return, rather than on
growth in tangible book value per share plus accumulated dividends. Total shareholder return will
be calculated from the date immediately prior to the date on which such change in control is
publicly announced through the date of the consummation of such change in control, in each case
calculated using the prior 20-day average closing price.


<P align="left" style="font-size: 11pt">The foregoing summary does not purport to be a complete description of all of the provisions of the
new form of performance share agreement and is qualified in its entirety by reference to the full
text of the Plan and the form of performance share agreement attached as Exhibit&nbsp;10.2 hereto.


<P align="left" style="font-size: 11pt"><U>Grant to Chief Executive Officer</U>


<P align="left" style="font-size: 11pt">Following review of the compensation of the Company&#146;s Chief Executive Officer, Kevin&nbsp;J. O&#146;Donnell,
compared to the chief executive officers of the Company&#146;s peers, the Committee also determined to
make a long-term incentive award to Mr.&nbsp;O&#146;Donnell, including a grant of performance shares under
the new performance share program, in recognition of Mr.&nbsp;O&#146;Donnell&#146;s performance in leading the
Company&#146;s attainment of the improved operating leverage, strong expense management and other
strategic accomplishments achieved under his tenure, as well as the increased complexity of the
Company&#146;s book of business and operating environment and also to bring Mr.&nbsp;O&#146;Donnell&#146;s compensation
in line with the market. The performance shares granted to Mr.&nbsp;O&#146;Donnell are subject to the terms
and conditions of the Plan and the new form of performance share agreement approved by the
Committee and attached as Exhibit&nbsp;10.2 hereto.


<P align="left" style="font-size: 11pt"><B>Item&nbsp;5.07&nbsp;Submission of Matters to a Vote of Security Holders.</B>


<P align="left" style="font-size: 11pt">The 2018 Annual General Meeting of Shareholders (the&nbsp;&#147;Annual Meeting&#148;) of RenaissanceRe Holdings
Ltd. (the&nbsp;&#147;Company&#148;) was held on Monday, May&nbsp;14, 2018 in Pembroke, Bermuda. As of March&nbsp;14, 2018,
the record date for the Annual Meeting, there were 40,082,013 common shares, par value $1.00 per
share, issued and outstanding. A quorum of 36,378,197 common shares was present or represented at
the Annual Meeting.


<P align="left" style="font-size: 11pt">The final results of the votes regarding the proposals described in the Company&#146;s definitive proxy
statement for the Annual Meeting on Schedule&nbsp;14A filed with the U.S.&nbsp;Securities and Exchange
Commission on March&nbsp;29, 2018 (the&nbsp;&#147;Proxy Statement&#148;) are as follows:


<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%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Shareholders elected each of the Company&#146;s three nominees for Class&nbsp;II director to serve
until the Company&#146;s 2021 Annual General Meeting of Shareholders and one nominee for Class&nbsp;III
director to serve until the Company&#146;s 2019 Annual General Meeting of Shareholders, or until
their earlier resignation or removal, as set forth below:</TD>
</TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="34%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 11pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Votes For</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Votes Against</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Abstentions</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Broker Non-Votes</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Brian G.J. Gray</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34,544,240</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">138,356</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,801</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,690,800</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Duncan P. Hennes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34,545,928</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">136,690</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,779</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,690,800</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Kevin J. O&#146;Donnell</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34,543,981</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">138,820</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,596</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,690,800</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Valerie Rahmani</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34,565,627</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">117,309</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,461</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,690,800</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<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%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Shareholders approved an advisory vote on the compensation of the Company&#146;s named executive
officers as set forth in the Proxy Statement as set forth below:</TD>
</TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR style="font-size: 11pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Votes For</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Votes Against</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Abstentions</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Broker Non-Votes</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">33,276,482
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,391,903</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">19,012</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,690,800</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<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%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Shareholders approved the appointment of Ernst&nbsp;& Young Ltd. as the Company&#146;s independent
registered public accounting firm for the 2018 fiscal year and referred the determination of
Ernst&nbsp;& Young Ltd.&#146;s remuneration to the Board of Directors of the Company, as set forth
below:</TD>
</TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
</TR>
<TR style="font-size: 11pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Votes For</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Votes Against</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Abstentions</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">35,786,028
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">582,702</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">9,467</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<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;Exhibits.


<P align="left" style="font-size: 11pt">Exhibit&nbsp;10.1 Waiver, dated as of May&nbsp;11, 2018, by and between RenaissanceRe Holdings Ltd. and The
Vanguard Group, Inc.


<P align="left" style="font-size: 11pt">Exhibit&nbsp;10.2 Form of Performance Share Agreement under the RenaissanceRe Holdings Ltd. 2016
Long-Term Incentive Plan.



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




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<FONT SIZE="2">Top of the Form</FONT>
</B>
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</A>
</DIV>
<!-- PageBreak END --><P ALIGN="CENTER">
<FONT SIZE="2">
	Exhibit&nbsp;Index
</FONT>
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="60%">
<TR VALIGN="BOTTOM">
<TD WIDTH="8%">
	&nbsp;
</TD>
<TD WIDTH="15%">
	&nbsp;
</TD>
<TD WIDTH="77%">
	&nbsp;
</TD>
</TR>

<BR>
<TR VALIGN="BOTTOM">
<TD NOWRAP ALIGN="LEFT">
<FONT SIZE="1">
<B>
	Exhibit No.
</B>
</FONT>
</TD>
<TD>
<FONT SIZE="1">
	&nbsp;
</FONT>
</TD>
<TD NOWRAP ALIGN="LEFT">
<FONT SIZE="1">
<B>
	Description
</B>
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD NOWRAP ALIGN="CENTER">
<HR SIZE="1" NOSHADE>
</TD>
<TD>
<FONT SIZE="1">
	&nbsp;
</FONT>
</TD>
<TD NOWRAP ALIGN="CENTER">
<HR ALIGN="LEFT" SIZE="1" WIDTH="88%" NOSHADE>
</TD>
</TR>





<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" WIDTH="8%" nowrap>
<FONT SIZE="2">
<DIV ALIGN="LEFT">
	10.1
</DIV>
</FONT>
</TD>
<TD WIDTH="15%">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
<FONT SIZE="2">
<A HREF="exhibit1.htm" >
Waiver, dated as of May 11, 2018, by and between RenaissanceRe Holdings Ltd. and The Vanguard Group, Inc.
</A>
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" WIDTH="8%" nowrap>
<FONT SIZE="2">
<DIV ALIGN="LEFT">
	10.2
</DIV>
</FONT>
</TD>
<TD WIDTH="15%">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
<FONT SIZE="2">
<A HREF="exhibit2.htm" >
Form of Performance Share Agreement under the RenaissanceRe Holdings Ltd. 2016 Long-Term Incentive Plan
</A>
</FONT>
</TD>
</TR></TABLE></CENTER><!-- PageBreak START -->
<P>
<HR NOSHADE>
<DIV ALIGN="LEFT" STYLE="PAGE-BREAK-BEFORE:ALWAYS">
<A HREF="#DOCUMENT_TOP">
<U>
<B>
<FONT SIZE="2">Top of the Form</FONT>
</B>
</U>
</A>
</DIV>
<!-- PageBreak END --><!-- SignatureHeader START -->
<P ALIGN="CENTER">
<FONT SIZE="2">
<B>
	SIGNATURES
</B>
</FONT>
</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
	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.
</FONT>
</P>
<!-- SignatureHeader END --><!-- Signature START -->
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
<TD WIDTH="19%">
	&nbsp;
</TD>
<TD WIDTH="34%">
	&nbsp;
</TD>
<TD WIDTH="3%">
	&nbsp;
</TD>
<TD WIDTH="1%">
	&nbsp;
</TD>
<TD WIDTH="43%">
	&nbsp;
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD COLSPAN="3" VALIGN="TOP" ALIGN="LEFT">
<FONT SIZE="2">
	RenaissanceRe Holdings Ltd.
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
<I>
	May 16, 2018
</I>
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	By:
</I>
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	/s/ Stephen H. Weinstein
</I>
<BR>
</FONT>
</TD>
</TR>
<TR>
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<HR SIZE="1" NOSHADE>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	Name: Stephen H. Weinstein
</I>
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	Title: SVP, Group General Counsel & Corporate Secretary
</I>
</FONT>
</TD>
</TR>
</TABLE>
</CENTER>
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<P>
<HR NOSHADE>
<DIV ALIGN="LEFT" STYLE="PAGE-BREAK-BEFORE:ALWAYS">
<A HREF="#DOCUMENT_TOP">
<U>
<B>
<FONT SIZE="2">Top of the Form</FONT>
</B>
</U>
</A>
</DIV>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 3.2//EN">
<HTML>
<HEAD>
<TITLE ID="1"> EX-10.1 </TITLE>
</HEAD>
<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">

<BODY style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt"><FONT style="font-size: 11pt"><B>EXHIBIT 10.1</B></FONT>



<P align="center" style="font-size: 11pt"><B>WAIVER</B>



<P align="center" style="font-size: 11pt">May&nbsp;11, 2018



<P align="left" style="font-size: 11pt">Reference is made to the Amended and Restated Bye-laws of RenaissanceRe Holdings Ltd. (the
&#147;<U>Bye-laws</U>&#148;). Defined terms not otherwise defined herein shall have the meanings ascribed to
them in the Bye-laws.


<P align="left" style="font-size: 11pt">Each party hereto acknowledges that Bye-law 46A of the Bye-laws provides, except as otherwise set
forth therein, that no Person shall be permitted to own or control shares in the Company to the
extent that such Person or any other Person will be considered to own or control Controlled Shares,
as the Board may determine in its sole discretion, if the result would be to render such Person or
any other Person a Ten Percent Shareholder or cause the Company to become a &#147;controlled foreign
corporation&#148; within the meaning of Section&nbsp;957 of the U.S. Internal Revenue Code.


<P align="left" style="font-size: 11pt">The Vanguard Group, Inc. (the &#147;<U>Investor</U>&#148;), on behalf of itself and its subsidiaries and
affiliates, acknowledges and agrees that Bye-law 46A of the Bye-laws provides that all Controlled
Shares which a Person may own or control which carry in excess of 9.9% of the voting rights of all
the issued and outstanding capital shares of the Company, as the Board may determine in its sole
discretion, shall carry no voting rights whatsoever in the hands of the Member actually owning such
shares for the purpose of the calculation of any vote which may or which is required to be taken at
any general meeting of the Company for any purpose.


<P align="left" style="font-size: 11pt">In light of the foregoing, RenaissanceRe Holdings Ltd. waives the restrictions on the acquisition
of ownership in Bye-law 46A of the Bye-laws with respect to the Investor up to a maximum of shares
representing 15% of the shares of the Company outstanding at any time of measurement, <U>provided
that</U> such waiver is revocable by the Company for any reason upon 30&nbsp;days&#146; notice, including the
fact that another Person is or may become a Ten Percent Shareholder or may cause the Company to
become a &#147;controlled foreign corporation&#148; within the meaning of Section&nbsp;957 of the U.S. Internal
Revenue Code, as the Board may determine in its sole discretion. The parties shall reasonably
cooperate with each other, and shall reasonably share such appropriate information, to effectuate
the calculation of the voting rights attributed to shares owned or controlled by the Investor such
that the aggregate voting power thereof does not in respect of any such vote or solicitation exceed
9.9% in respect of any vote or solicitation relating to the Company.


<P align="left" style="font-size: 11pt">We have called to your attention that Maryland law requires prior notice and the Maryland Insurance
Administration approval of acquisitions of control of a Maryland-domestic insurer, such as our
subsidiary Renaissance Reinsurance U.S. Inc. or an entity directly or indirectly controlling a
Maryland-domestic insurer, including its holding company. We understand that any purchaser of 10%
or more of the outstanding voting securities of an insurance company, its holding company or any
other entity directly or indirectly controlling the insurance company is presumed to have acquired
control, unless the presumption is rebutted. Similar requirements may pertain to 10% ultimate
parent ownership of a Lloyd&#146;s managing agent, Lloyd&#146;s corporate member, Irish insurance company, or
under the regulatory regimes of other jurisdictions in which entities we own or have invested in
may be regulated. Beneficial ownership under the securities law does not always equate to purchase
or control under insurance law or regulation and we encourage you to seek your own counsel.


<P align="left" style="font-size: 11pt">In addition, we have agreed to send to the Investor information about the Company relating to its
other direct and indirect ownership holdings and related jurisdictions, which may not be publicly
available and which may relate in whole or in part to minority investments of the Company. The
Investor agrees to keep such information strictly confidential, to retain it to the greatest extent
practicable within the Investor&#146;s legal and compliance function, and to utilize such information
solely for the purpose of analyzing potential regulatory requirements of the Investor with respect
to its investment in the Company.


<P align="left" style="font-size: 11pt">IN WITNESS WHEREOF, the undersigned has caused this Waiver to be signed on its behalf by its
officer thereunto duly authorized as of the date first written above.


<P align="left" style="font-size: 11pt">RENAISSANCERE HOLDINGS LTD.


<P align="left" style="font-size: 11pt">By:<U> /s/ Stephen H. Weinstein</U><BR>
Name: Stephen Weinstein<BR>
Title: Senior Vice President, Group General Counsel<BR>


<P align="left" style="font-size: 11pt"><FONT style="font-size: 12pt">ACKNOWLEDGED AND AGREED:
</FONT>

<P align="left" style="font-size: 12pt">THE VANGUARD GROUP, INC.


<P align="left" style="font-size: 12pt"><FONT style="font-size: 11pt">By:<U> /s/ Glenn Booraem</U><BR>
Name: Glenn Booraem<BR>
Title: Principal<BR>
</FONT>


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




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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exhibit2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 3.2//EN">
<HTML>
<HEAD>
<TITLE ID="2"> EX-10.2 </TITLE>
</HEAD>
<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">

<BODY style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>EXHIBIT 10.2</B></FONT>



<P align="center" style="font-size: 12pt"><B>PERFORMANCE SHARE AGREEMENT</B>



<P align="left" style="font-size: 12pt; text-indent: 4%">RenaissanceRe Holdings Ltd. (the&nbsp;&#147;<U>Company</U>&#148;), pursuant to its 2016 Long-Term Incentive
Plan (as amended from time to time, the&nbsp;&#147;<U>Plan</U>&#148;), hereby grants to the Participant the
number of Performance Shares set forth below. The Performance Shares are subject to all of the
terms and conditions as set forth herein, as well as the terms and conditions of the Plan, all of
which are incorporated herein in their entirety. Capitalized terms not otherwise defined herein
shall have the same meaning as set forth in the Plan. In the event of a conflict or inconsistency
between the terms and provisions of the Plan and the provisions of this Performance Share Agreement
(this&nbsp;&#147;<U>Agreement</U>&#148;), the Plan shall govern and control.


<P align="left" style="font-size: 12pt"><B>Participant</B>:


<P align="left" style="font-size: 12pt"><B>Date of Grant</B>:


<P align="left" style="font-size: 12pt"><B>Number of Performance Shares</B>:


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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Definitions</B>:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:21%; font-size: 12pt">For purposes of this Agreement, the following definitions
shall apply:



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Employment Agreement</U>&#148; means the Participant&#146;s
employment agreement with the Company, as amended,
amended and restated, or modified from time to time.



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Measurement Price</U>&#148; means, with respect to any
Change in Control, the average of the closing prices of
the Stock for each of the twenty (20)&nbsp;trading days ending
on (and including) the date of the consummation of such
Change in Control.



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Measurement TBVPS Plus AD Amount</U>&#148; means, with
respect to any Performance Period, the sum of (i)&nbsp;the
Tangible Book Value Per Share as of the last day of such
Performance Period, and (ii)&nbsp;the aggregate of all
dividends paid with respect to the Stock during such
Performance Period.



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Performance Period</U>&#148; means (i)&nbsp;with respect to
Tranche&nbsp;1, calendar year &#091;</FONT><FONT style="font-size: 10pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT><FONT style="font-size: 12pt">&#093;, (ii)&nbsp;with
respect to Tranche&nbsp;2, calendar year &#091;</FONT><FONT style="font-size: 10pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT><FONT style="font-size: 12pt">&#093;,
and (iii)&nbsp;with respect to Tranche&nbsp;3, calendar year
&#091;</FONT><FONT style="font-size: 10pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT><FONT style="font-size: 12pt">&#093;.
</FONT>


<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Reference Price</U>&#148; means, with respect to any
Change in Control, the average of the closing prices of
the Stock for each of the twenty (20)&nbsp;trading days ending
on (and including) the date immediately prior to the date
on which such Change in Control is publicly announced, as
determined by the Committee.



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Reference TBVPS Amount</U>&#148; means, with respect to
any Performance Period, the Tangible Book Value Per Share
as of the date immediately prior to the first day of such
Performance Period.



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Service Period</U>&#148; means the period commencing on
the Date of Grant and ending on December&nbsp;31,
&#091;</FONT><FONT style="font-size: 10pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT><FONT style="font-size: 12pt">&#093;, with respect to each Vesting Tranche.
</FONT>


<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>TBVPS Plus AD Growth</U>,&#148; the Performance
Objective, means, with respect to any Performance Period,
the percentage change in the Tangible Book Value per
Share plus accumulated dividends from the Reference TBVPS
Amount to the Measurement TBVPS Plus AD Amount, in each
case, with respect to such Performance Period.



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Tangible Book Value Per Share</U>&#148; means, as of any
date, the book value per share of Stock, as of such date,
determined in accordance with GAAP, with adjustments
made, in the sole discretion of the Committee, to exclude
goodwill and intangible assets per share of Stock.



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Total Shareholder Return</U>&#148; means, as of the date
of the consummation of any Change in Control, the
percentage change in the value of the Stock from the
Reference Price to the Measurement Price as of such date
(plus the dividends paid with respect to the Stock during
the period commencing on the date immediately prior to
the date on which the Company publicly announces such
Change in Control and ending on the date of the
consummation of such Change in Control), as determined by
the Committee in its sole discretion.



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Vesting Tranche</U>&#148; means a vesting tranche of
Performance Shares as set forth herein.


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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Vesting Percentage:</B></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Vesting Percentage</U>&#148; shall, with respect to a
given Vesting Tranche, be a function of the TBVPS Plus AD
Growth achieved during the applicable Performance Period,
to be determined as follows:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="70%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Achievement Level</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>TBVPS Plus AD Growth</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Vesting Percentage</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 10pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Maximum
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091; &#093;%
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Target
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091; &#093;%
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Threshold
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091; &#093;%
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Below Threshold
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060; &#091; &#093;%
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="margin-left:21%; font-size: 10pt"><FONT style="font-size: 12pt">In the event that the TBVPS Plus AD Growth during a
given Performance Period falls between any of the stated
TBVPS Plus AD Growth percentages in the table above, the
Vesting Percentage for the applicable Vesting Tranche
shall be determined using a linear interpolation from the
next lowest stated percentage. For all purposes of this
Agreement, the Plan, the Employment Agreement, and any
other agreement between the Participant and the Company,
the TBVPS Plus AD Growth associated with the &#147;target&#148;
achievement level shall be deemed to be &#147;target&#148;
performance. Notwithstanding anything herein to the
contrary, the Committee may decrease the Vesting
Percentage with respect to any given Performance
Period(s), in its sole discretion.
</FONT>

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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Industry Loss Adjustment</B>:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:21%; font-size: 12pt">Notwithstanding anything herein to the contrary, in the
event that (i)&nbsp;there are global catastrophic industry
loss event(s) during a Performance Period totaling
$&#091;&nbsp;&nbsp;billion&#093; or greater in the aggregate (as determined
by the Committee in its sole discretion) and (ii)&nbsp;the
TBVPS Plus AD Growth for such Performance is below the
&#147;Threshold&#148; achievement level, if the Committee
determines in its sole discretion that the Company&#146;s
performance against its modelled outcomes for such
event(s) are within the acceptable modelled range,
notwithstanding the TBVPS Plus AD Growth and
corresponding Vesting Percentage for the applicable
Vesting Tranche determined in accordance with the table
above, the Committee shall have the discretion to award
Performance Shares in an amount equal to up to &#091;&nbsp;&nbsp;&#093;% of
the &#147;target&#148; payout for the Vesting Tranche for such
Performance Period.


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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Change in Control</B>:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:21%; font-size: 12pt">Notwithstanding anything herein to the contrary, in the
event of a Change in Control during the Service Period in
connection with which the Performance Shares are not
assumed or substituted, the Vesting Percentage with
respect to any Vesting Tranche for which the Performance
Period has not yet completed prior to the date of the
consummation of such Change in Control shall be
determined as follows: (i)&nbsp;with respect to any Vesting
Tranche for which the Performance Period has not yet
commenced as of the date of the consummation of such
Change in Control, the TBVPS Plus AD Growth associated
with the &#147;target&#148; achievement level shall be deemed to be
achieved during such Performance Period, and (ii)&nbsp;with
respect to the Vesting Tranche for the Performance Period
during which the Change in Control is consummated, the
Vesting Percentage will be a function of the Total
Shareholder Return achieved as of the date of the
consummation of such Change in Control, to be determined
as follows:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="70%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Achievement Level</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Total Shareholder Return</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Vesting Percentage</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 10pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Maximum
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Target
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Threshold
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 10pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Below Threshold
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#060; &#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;%</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="margin-left:21%; font-size: 10pt"><FONT style="font-size: 12pt">In the event that, with respect to the Vesting
Tranche for the Performance Period during which the
Change in Control is consummated, the Total Shareholder
Return achieved as of the date of the consummation of
such Change in Control falls between any of the stated
Total Shareholder Return percentages in the table above,
the Vesting Percentage for the applicable Vesting Tranche
shall be determined using a linear interpolation from the
next lowest stated percentage.
</FONT>

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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Performance Objective Adjustment</B>:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:21%; font-size: 12pt">The Committee may adjust the Performance Objectives set
forth herein to exclude the impact of any acquisitions or
dispositions of businesses or business segments by the
Company, one-time non-operating charges, unusual or
nonrecurring items, accounting changes (including the
early adoption of any accounting change mandated by any
governing body, organization or authority), changes in
tax laws, impact of discontinued operations, restatements
of prior period financial results, and any other events
or transactions that may result in distortion of such
Performance Objectives. In addition, if the Committee
determines that a change in the business, operations,
corporate structure or capital structure of the Company,
or the manner in which it conducts its business, or other
events or circumstances render the Performance Objectives
set forth herein unsuitable, the Committee may modify
such Performance Objectives, in whole or in part, as the
Committee deems appropriate and equitable.


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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Vesting Tranches:</B></TD>
</TR>

</TABLE>



<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Tranche&nbsp;1</U>&#148; shall consist of </FONT><FONT style="font-size: 10pt">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;
</FONT><FONT style="font-size: 12pt">Performance Shares.
</FONT>


<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Tranche&nbsp;2</U>&#148; shall consist of </FONT><FONT style="font-size: 10pt">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;
</FONT><FONT style="font-size: 12pt">Performance Shares.
</FONT>


<P align="left" style="margin-left:21%; font-size: 12pt">&#147;<U>Tranche&nbsp;3</U>&#148; shall consist of </FONT><FONT style="font-size: 10pt">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;
</FONT><FONT style="font-size: 12pt">Performance Shares.
</FONT>

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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Vesting Schedule</B>:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:21%; font-size: 12pt">Subject to the Participant&#146;s continued employment with
the Company or any of its Affiliates through the Service
Period (except as otherwise provided in any other
agreement between the Participant and the Company
pertaining to the Performance Shares, including the
Employment Agreement, in which case the terms of such
other agreement shall apply to the Performance Shares), a
number of Performance Shares in each Vesting Tranche
shall vest upon the expiration of the Service Period
equal to the product of (x)&nbsp;the total number of
Performance Shares in such Vesting Tranche multiplied by
(y)&nbsp;the Vesting Percentage. The total number of vested
Performance Shares in each Vesting Tranche shall be
delivered following the later of (i)&nbsp;expiration of the
Service Period and (ii)&nbsp;the Committee&#146;s determination of
TBVPS Plus AD Growth or Total Shareholder Return, as
applicable, with respect to the Performance Period for
such Vesting Tranche. Performance Shares in a given
Vesting Tranche that are no longer eligible to vest
following the Committee&#146;s determination of TBVPS Plus AD
Growth or Total Shareholder Return, as applicable, with
respect to a given Performance Period shall immediately
be forfeited to the Company by the Participant for no
consideration as of the date of such determination.


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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Termination of Employment</B>:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:21%; font-size: 12pt">In the event of the Participant&#146;s Termination for any
reason (except as otherwise provided in any other
agreement between the Participant and the Company
pertaining to the Performance Shares, including the
Employment Agreement or any other Participant Agreement,
in which case the terms of such other agreement shall
apply to the Performance Shares), all Performance Shares
that have not vested as of the date of such Termination
shall be immediately forfeited to the Company by the
Participant for no consideration as of such date.


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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Dividends</B>:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:21%; font-size: 12pt">As contemplated by Section&nbsp;9(a) of the Plan, cash
dividends and stock dividends, if any, with respect to
the Performance Shares shall be withheld by the Company
for the Participant&#146;s account, and shall be subject to
forfeiture to the same degree as the Performance Shares
to which such dividends relate. No interest will accrue
or be paid on the amount of any cash dividends withheld.
Accrued dividends that remain unpaid following the
Participant&#146;s Termination for any reason shall be
immediately forfeited for no consideration as of the date
of such Termination. No dividends will accrue or be
withheld by the Company on the Participant&#146;s behalf
pursuant to this Agreement or the Plan with respect to
any Performance Shares on or following the date on which
they vest in full.


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

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Additional Terms</B>:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:21%; font-size: 12pt">The Performance Shares granted hereunder shall be
registered in the Participant&#146;s name on the books of the
Company, but the certificates evidencing such Performance
Shares shall be retained by the Company while the
Performance Shares remain unvested, and for such
additional time as the Committee determines appropriate.



<P align="left" style="margin-left:21%; font-size: 12pt">The Company shall have the right to deduct from any
payment to the Participant pursuant to this Agreement any
federal, state or local income or other taxes required to
be withheld in respect thereof in accordance with
Section&nbsp;17 of the Plan.



<P align="left" style="margin-left:21%; font-size: 12pt">This Agreement does not confer upon the Participant any
right to continue as an employee.



<P align="left" style="margin-left:21%; font-size: 12pt">This Agreement shall be construed and interpreted in
accordance with the laws of Bermuda, without regard to
the principles of conflicts of law thereof.


<P align="center" style="font-size: 12pt">* * *<BR>
&#091;<I>Signatures to appear on the following page(s).</I>&#093;



<P align="left" style="font-size: 12pt"><B>THE UNDERSIGNED PARTICIPANT ACKNOWLEDGES RECEIPT OF THIS AGREEMENT AND THE PLAN, AND AS AN
EXPRESS CONDITION TO THE GRANT OF PERFORMANCE SHARES HEREUNDER, AGREES TO BE BOUND BY THE TERMS
THIS AGREEMENT AND THE PLAN.</B>

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="70%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">RENAISSANCERE HOLDINGS LTD.<BR>
By:<BR>
Signature
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">PARTICIPANT<BR>
Signature<BR>
Date:</TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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




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