The Board of Directors of RenaissanceRe Holdings (RenRe) has approved an increase in RenaissanceRe's latest share repurchase programme, bringing the total current authorisation to $500 million.
This authorisation includes the remaining amounts available under prior authorisations. Under this program, RenaissanceRe may repurchase shares of its common stock in the open market based on, among other things, its ongoing capital requirements and expected cash flows, and the market price of its common shares. The repurchase programme does not have an established expiration date.
RenaissanceRe has issued share repurchase plans, along with increases on such plans, in the past, with the latest one being announced in May of 2017.
The Board also announced a quarterly dividend of $0.32 per common share on its common stock. The dividend is payable on December 29, 2017 to shareholders of record on December 15, 2017.
RenaissanceRe Holdings, Share repurchase, Bermuda