RenaissanceRe Announces Redemption of 5.375% Series E Desire Shares | Company
5 min readPEMBROKE, Bermuda–(Enterprise WIRE)–Jul 12, 2021–
RenaissanceRe Holdings Ltd. (NYSE:RNR) (the “Company” or “RenaissanceRe”) introduced right now that it has made a decision to get in touch with all 11,000,000 of its superb 5.375% Sequence E Preference Shares (NYSE: RNRPRE CUSIP: G7498P 119) (the “Series E Choice Shares”) for necessary redemption on August 11, 2021. The redemption selling price will be $25.00 for every Sequence E Preference Share, moreover accrued and unpaid dividends to August 10, 2021. The Corporation will use a portion of the proceeds of its previously announced providing of depositary shares, each and every symbolizing a 1/1,000th curiosity in a 4.20% Collection G Desire Share, which shut July 12, 2021, to redeem the Collection E Choice Shares.
All of the excellent Sequence E Preference Shares will be termed for redemption. On and after the redemption date, the Collection E Choice Shares so redeemed will no for a longer period be deemed to be exceptional, dividends on these kinds of Series E Preference Shares will stop to accrue, and all rights of the holders of such Collection E Preference Shares will stop, other than for the appropriate to receive the redemption cost, without the need of interest thereon, on surrender of such Series E Desire Shares.
The observe of redemption has been mailed to registered holders of the Sequence E Preference Shares today. Requests for additional copies of the recognize of redemption and the similar elements ought to be directed to the redemption agent, Computershare Believe in Business, N.A., at 150 Royall Street, Canton, MA 02021.
About RenaissanceRe
RenaissanceRe is a global supplier of reinsurance and insurance plan that specializes in matching well-structured risks with economical sources of money. The Business delivers assets, casualty and specialty reinsurance and specific insurance policies methods to shoppers, principally through intermediaries. Proven in 1993, the Organization has places of work in Bermuda, Australia, Eire, Singapore, Switzerland, the United Kingdom and the United States.
Cautionary Assertion With regards to Forward-Looking Statements
Any forward-hunting statements made in this Press Release replicate RenaissanceRe’s present-day sights with regard to long run occasions and economical effectiveness and are designed pursuant to the risk-free harbor provisions of the Personal Securities Litigation Reform Act of 1995. These statements are topic to a lot of factors that could result in true results to vary materially from people set forth in or implied by this sort of ahead-looking statements, together with the adhering to: the uncertainty of the continuing and future affect of the COVID-19 pandemic, including actions taken in reaction thereto and the effect of legislative, regulatory and judicial influences on the Company’s financial general performance and the Company’s capacity to conduct its small business the frequency and severity of catastrophic and other occasions the Organization handles the performance of the Company’s promises and assert cost reserving method the result of climate transform on the Company’s small business, which include the trend in the direction of progressively regular and serious climate activities the Company’s means to keep its money strength ratings the impact of rising claims and protection troubles selection on claimed retrocessional coverage, and new retrocessional reinsurance getting offered on satisfactory conditions and providing the protection that the Corporation meant to attain the very aggressive nature of the Company’s business, resulting in consolidation of rivals, consumers and insurance and reinsurance brokers, and the Company’s reliance on a small and reducing variety of brokers for the preponderance of its revenue the Company’s publicity to credit reduction from counterparties in the normal program of company the effect of ongoing hard economic circumstances throughout the globe the effectiveness of the Company’s investment decision portfolio and fiscal sector volatility a contention by the U.S. Internal Earnings Services that Renaissance Reinsurance Ltd. or any of the Company’s other Bermuda subsidiaries is subject 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 attainable potential tax reform legislation and laws, including alterations to the tax cure of the Company’s shareholders or buyers in its joint ventures or other entities the Enterprise manages the impact of cybersecurity threats, which includes engineering breaches or failure, on the Company’s enterprise the Company’s means to productively carry out its enterprise techniques and initiatives, and the achievement of any of the Company’s strategic investments or acquisitions, which include its means to regulate its operations as its products and geographical diversity raises the Company’s capability to keep its key senior officers and to draw in or keep the executives and staff members essential to take care of its enterprise the Company’s capacity to correctly take care of cash on behalf of buyers in joint ventures or other entities it manages international currency exchange fee fluctuations delicate reinsurance underwriting industry circumstances modifications in the process for pinpointing the London Inter-lender Presented Amount (“LIBOR”) and the alternative of LIBOR losses the Enterprise could encounter from terrorism, political unrest or war the Company’s means to establish any impairments taken on its investments the results of inflation the skill of the Company’s ceding corporations and delegated authority counterparties to correctly evaluate the dangers they underwrite the influence of operational challenges, which include process or human failures the Company’s capacity to increase cash if required the Company’s ability to comply with covenants in its financial debt agreements alterations to the accounting policies and regulatory units applicable to the Company’s business, which include adjustments in Bermuda legislation or rules or as a final result of enhanced world-wide regulation of the insurance plan and reinsurance industries the Company’s dependence on the capability of its working subsidiaries to declare and spend dividends factors of the Company’s company framework that may well discourage third-bash takeovers and other transactions challenges buyers may well have in serving system or implementing judgments against the Firm in the U.S. the cyclical nature of the reinsurance and insurance coverage industries adverse legislative developments that lower the size of the private markets the Company serves or impede their future expansion and other political, regulatory or marketplace initiatives adversely impacting the Firm the Company’s capacity to comply with relevant sanctions and international corrupt tactics legislation intercontinental constraints on the composing of reinsurance by foreign firms and government intervention in the natural catastrophe market the Company’s will need to make several estimates and judgments in the preparation of its fiscal statements the result of the exit by the United Kingdom from the EU and other factors influencing long run effects disclosed in RenaissanceRe’s filings with the Securities and Exchange Commission, such as its Yearly Reports on Type 10-K, Quarterly Experiences on Kind 10-Q and prospectus nutritional supplement dated July 7, 2021.
Perspective resource edition on businesswire.com:https://www.businesswire.com/information/property/20210712005795/en/
Get hold of: Investor Contact:
RenaissanceRe Holdings Ltd.
Keith McCue
Senior Vice President, Finance & Trader Relations
441-239-4830Media Contacts:
RenaissanceRe Holdings Ltd.
Keil Gunther
Senior Vice President, Head of World Internet marketing & Consumer Communication
441-239-4932Kekst CNC
Dawn Dover
212-521-4800
Key word: BERMUDA CARIBBEAN
Marketplace Search phrase: Skilled Expert services Insurance plan FINANCE
Resource: RenaissanceRe Holdings Ltd.
Copyright Company Wire 2021.
PUB: 07/12/2021 04:29 PM/DISC: 07/12/2021 04:29 PM
http://www.businesswire.com/information/household/20210712005795/en
Copyright Organization Wire 2021.
