common shares priced at $38 a share in a $114 million secondary public offering. The shares are being offered by the company's founding institutional shareholders or their successors.

The company also announced the purchase for cancellation of 700,000 common shares, reducing outstanding shares to about 22.1 million. RenaissanceRe, through its subsidiaries Renaissance Reinsurance Ltd. and Glencoe Insurance Ltd., provides reinsurance and insurance primarily in the property catastrophe sector.