RenaissanceRe Holdings (ticker: RNR, exchange: New York Stock Exchange (.N))
News Release -
RenaissanceRe Files Shelf Registration StatementPEMBROKE, Bermuda, Feb 25, 2002 (BUSINESS WIRE) -- RenaissanceRe Holdings Ltd.
(NYSE:RNR) today announced that the Company has filed with the Securities and
Exchange Commission (SEC) a shelf registration statement for the proposed
offering of up to $500 million of securities.
Under this shelf registration statement, the Company will have the flexibility
to sell debt securities, common and preferred shares, warrants and share
purchase contracts and units, as well as trust preferred securities or a
combination of the above. When the registration statement filed today is
declared effective and combined with the remaining availability under its
existing effective shelf registration statement, the Company will be able to
offer up to $564 million of securities.
A registration statement relating to the securities listed in the latest shelf
registration statement has been filed with the SEC but has not yet become
effective. These securities may not be sold, nor may offers to buy be accepted,
prior to the time the registration statement becomes effective. This press
release shall not constitute an offer to sell or the solicitation of an offer to
buy nor shall there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance.
The Company's principal product is property catastrophe reinsurance.
Cautionary Statement under "Safe Harbor," Provision of the Private Securities
Litigation Reform Act of 1995: Statements made in this news release contain
information about the Company's future business prospects. These statements may
be considered "forward-looking." These statements are subject to risks and
uncertainties that could cause actual results to differ materially from those
set forth in or implied by such forward-looking statements. For further
information regarding cautionary statements and factors affecting future
operations results, please refer to RenaissanceRe Holdings Ltd.'s filings with
the Securities and Exchange Commission including its annual report on Form 10-K
for the year ended December 31, 2000 and Form 10-Q for the quarters ended March
31, 2001 and June 30, 2001 and its current reports on Form 8-K.
CONTACT: Investor Contact:
RenaissanceRe Holdings Ltd.
Martin J. Merritt
Kekst and Company
Dawn Dover/Sarah Zitter Milstein
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