RenaissanceRe Holdings Announces Pricing of $500 Million Senior Notes Offering

On February 18, 2025, RenaissanceRe Holdings Ltd. (NYSE: RNR) disclosed that it has entered into an underwriting agreement with Barclays Capital Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, and Wells Fargo Securities, LLC. This agreement involves the offer and sale of $500 million in aggregate principal amount of the company’s 5.800% Senior Notes due 2035. The underwriting agreement was established for this specific offering.

The Offering, which has been facilitated through a shelf registration statement on Form S-3 (No. 333-272124) filed with the U.S. Securities and Exchange Commission (SEC) on May 22, 2023, is anticipated to close on February 25, 2025, pending the fulfillment of customary closing conditions.

Furthermore, on February 18, 2025, RenaissanceRe Holdings Ltd. issued a press release detailing the pricing of the offering. The Company plans to utilize the net proceeds from this offering for general corporate purposes, which may involve redeeming, repaying, or refinancing specific indebtedness. The senior notes are expected to achieve ratings of A3 by Moody’s Investors Service, BBB+ by Standard & Poor’s, and A- by Fitch Ratings. The joint book-running managers for this offering are Barclays, Citigroup, Morgan Stanley, RBC Capital Markets, and Wells Fargo Securities.

The pricing press release and underwriting agreement for this event can be referenced in Exhibits 99.1 and 1.1, respectively, attached to the Current Report on Form 8-K filed by RenaissanceRe Holdings Ltd.

RenaissanceRe Holdings Ltd. was founded in 1993 and serves as a global provider of reinsurance and insurance, specializing in aligning desirable risks with efficient capital, offering property, casualty, and specialty reinsurance and insurance solutions to customers through intermediaries. With offices in various countries, including Bermuda, Australia, Canada, Ireland, Singapore, Switzerland, the United Kingdom, and the United States, the Company boasts extensive reach.

Any forward-looking statements mentioned in the press release echo RenaissanceRe’s present outlook concerning future events and financial performance, following the protocols of the Private Securities Litigation Reform Act of 1995. Potential factors that could impact actual results are articulated in the Company’s filings with the SEC, such as its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. This includes disclosures about risks associated with the business, industry, and economic climate, among others.

Investor Contact:
Keith McCue
Senior Vice President, Finance & Investor Relations
441-239-4830

Media Contacts:
Hayden Kenny
Senior Vice President, Investor Relations & Communications
441-239-4946

Nicholas Capuano
Kekst CNC
917-842-7859

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read RenaissanceRe’s 8K filing here.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.