PEMBROKE, Bermuda–(Organization WIRE)–RenaissanceRe Holdings Ltd. (NYSE:RNR) (the “Company” or “RenaissanceRe”) announced now that it has made a decision to call all 11,000,000 of its excellent 5.375% Sequence E Desire Shares (NYSE: RNRPRE CUSIP: G7498P 119) (the “Series E Preference Shares”) for mandatory redemption on August 11, 2021. The redemption price tag will be $25.00 for every Collection E Choice Share, moreover accrued and unpaid dividends to August 10, 2021. The Corporation will use a portion of the proceeds of its beforehand introduced featuring of depositary shares, every symbolizing a 1/1,000th curiosity in a 4.20% Collection G Desire Share, which closed July 12, 2021, to redeem the Collection E Preference Shares.
All of the remarkable Series E Preference Shares will be identified as for redemption. On and soon after the redemption day, the Sequence E Choice Shares so redeemed will no lengthier be considered to be superb, dividends on this sort of Sequence E Preference Shares will stop to accrue, and all rights of the holders of these types of Collection E Choice Shares will stop, except for the correct to acquire the redemption cost, without having fascination thereon, on surrender of these kinds of Collection E Preference Shares.
The detect of redemption has been mailed to registered holders of the Sequence E Desire Shares these days. Requests for supplemental copies of the observe of redemption and the linked components really should be directed to the redemption agent, Computershare Have faith in Enterprise, N.A., at 150 Royall Avenue, Canton, MA 02021.
RenaissanceRe is a world wide supplier of reinsurance and insurance policies that specializes in matching nicely-structured threats with efficient sources of funds. The Firm presents house, casualty and specialty reinsurance and certain insurance plan solutions to consumers, principally by way of intermediaries. Proven in 1993, the Enterprise has workplaces in Bermuda, Australia, Ireland, Singapore, Switzerland, the United Kingdom and the United States.
Cautionary Assertion Concerning Forward-Searching Statements
Any forward-looking statements produced in this Push Launch mirror RenaissanceRe’s present-day views with regard to potential situations and monetary overall performance and are built pursuant to the harmless harbor provisions of the Personal Securities Litigation Reform Act of 1995. These statements are topic to numerous elements that could induce real results to vary materially from all those established forth in or implied by these kinds of ahead-hunting statements, together with the pursuing: the uncertainty of the continuing and future affect of the COVID-19 pandemic, which include steps taken in response thereto and the effect of legislative, regulatory and judicial influences on the Company’s economic efficiency and the Company’s means to perform its business the frequency and severity of catastrophic and other gatherings the Business addresses the performance of the Company’s promises and claim expense reserving approach the influence of weather adjust on the Company’s organization, like the development towards ever more recurrent and significant local weather activities the Company’s ability to preserve its fiscal energy scores the outcome of emerging statements and protection difficulties collection on claimed retrocessional coverage, and new retrocessional reinsurance currently being offered on satisfactory conditions and delivering the protection that the Company meant to acquire the very competitive character of the Company’s field, resulting in consolidation of opponents, clients and insurance coverage and reinsurance brokers, and the Company’s reliance on a compact and decreasing variety of brokers for the preponderance of its earnings the Company’s exposure to credit score loss from counterparties in the usual training course of organization the result of ongoing complicated economic disorders throughout the entire world the efficiency of the Company’s investment portfolio and economic sector volatility a competition by the U.S. Inner Profits Support that Renaissance Reinsurance Ltd. or any of the Company’s other Bermuda subsidiaries is matter to taxation in the U.S. the consequences of U.S. tax reform laws, Organisation for Financial Co-procedure and Enhancement or European Union (“EU”) steps and doable potential tax reform legislation and polices, which includes alterations to the tax remedy of the Company’s shareholders or traders in its joint ventures or other entities the Firm manages the effect of cybersecurity hazards, including technologies breaches or failure, on the Company’s organization the Company’s potential to properly apply its small business approaches and initiatives, and the achievement of any of the Company’s strategic investments or acquisitions, together with its skill to take care of its functions as its product or service and geographical variety boosts the Company’s potential to retain its key senior officers and to catch the attention of or keep the executives and staff essential to regulate its business the Company’s ability to effectively control money on behalf of buyers in joint ventures or other entities it manages foreign currency trade price fluctuations delicate reinsurance underwriting market place ailments improvements in the approach for figuring out the London Inter-financial institution Available Price (“LIBOR”) and the substitute of LIBOR losses the Business could experience from terrorism, political unrest or war the Company’s means to identify any impairments taken on its investments the outcomes of inflation the capability of the Company’s ceding corporations and delegated authority counterparties to accurately evaluate the hazards they underwrite the impact of operational pitfalls, which includes program or human failures the Company’s ability to increase money if necessary the Company’s skill to comply with covenants in its credit card debt agreements modifications to the accounting policies and regulatory devices applicable to the Company’s business enterprise, together with improvements in Bermuda legislation or rules or as a final result of enhanced world wide regulation of the insurance policies and reinsurance industries the Company’s dependence on the skill of its functioning subsidiaries to declare and pay out dividends aspects of the Company’s corporate composition that may perhaps discourage 3rd-celebration takeovers and other transactions troubles buyers may perhaps have in serving system or implementing judgments towards the Enterprise in the U.S. the cyclical character of the reinsurance and insurance policies industries adverse legislative developments that lessen the measurement of the personal markets the Company serves or impede their long term progress and other political, regulatory or industry initiatives adversely impacting the Firm the Company’s means to comply with relevant sanctions and overseas corrupt methods legislation worldwide constraints on the crafting of reinsurance by international businesses and federal government intervention in the pure catastrophe market the Company’s need to have to make many estimates and judgments in the preparation of its financial statements the impact of the exit by the United Kingdom from the EU and other elements impacting long run outcomes disclosed in RenaissanceRe’s filings with the Securities and Trade Commission, which includes its Annual Studies on Kind 10-K, Quarterly Stories on Variety 10-Q and prospectus nutritional supplement dated July 7, 2021.