RenaissanceRe Announces $500 Million Public Offering of Depositary Shares Representing 4.20% Series G Preference Shares

RenaissanceRe Holdings Ltd. (NYSE: RNR) (the “Company” or “RenaissanceRe”) announced today it has agreed to sell in an underwritten public offering 20,000,000 Depositary Shares, each of which represents a 1/1,000th interest in a share of its 4.20% Series G Preference Shares, $1.00 par value and $25,000 liquidation preference per share (equivalent to $25 per Depositary Share). The public offering price is $25 per Depositary Share for an aggregate public offering price of $500,000,000. RenaissanceRe currently expects to consummate the sale to the underwriters on July 12, 2021, subject to customary closing conditions. RenaissanceRe anticipates using the net proceeds from the offering to redeem all of its outstanding 5.375% Series E Preference Shares and any additional net proceeds will be used for general corporate purposes. In the event a catastrophic or other significant event occurs prior to the redemption of the 5.375% Series E Preference Shares, RenaissanceRe may, depending on factors existing at such time, elect to apply such net proceeds to replenish its capital base in lieu of effectuating all of such redemption. RenaissanceRe intends to have the Depositary Shares listed on the New York Stock Exchange under the symbol “RNRPRG.”

Wells Fargo Securities, LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and UBS Securities LLC are serving as joint book-running managers for the offering.

The Depositary Shares are being offered pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission (the “SEC”). This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, or solicitation to buy, if at all, will be made solely by means of a prospectus and related prospectus supplement filed with the SEC. You may obtain these documents without charge from the SEC at www.sec.gov. Alternatively, you may request copies of these materials from Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, by calling toll-free: 1-800-645-3751 or by emailing: [e-mail]; BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department or by emailing [e-mail]; Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department; RBC Capital Markets, LLC, Brookfield Place, 200 Vesey Street, 8th Floor, New York, NY 10281, Attention: Investment Grade Syndicate Desk, by calling toll-free: 1-866-375-6829, or by emailing: [e-mail]; or UBS Securities LLC, Attention:  Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, by calling toll-free at 1-888-827-7275.