RenRe Offers 5,500,000 Common Shares

June 3, 2020

RenaissanceRe Holdings announced the pricing of an underwritten public offering of 5,500,000 of its common shares at a price to the public of $166.00 per share, before underwriting discounts and commissions. The offering is expected to close on June 5, 2020, subject to customary closing conditions.

The Company intends to use the net proceeds from this offering for general corporate purposes, which may include expanding existing business lines, entering new business lines, forming new joint ventures, or acquiring books of business from other companies.

State Farm Mutual Automobile Insurance Company [State Farm], which currently owns approximately 4.4% of RenaissanceRe’s total common shares outstanding, has entered into an investment agreement to purchase, subject to the consummation of the underwritten public offering and other customary conditions, approximately $75 million of the Company’s common shares at the public offering price per share in a concurrent private placement exempt from the registration requirements of the U.S. Securities Act of 1933, as amended.

Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are acting as joint book-running managers and representatives of the underwriters for the offering. The underwriters have the option to purchase up to an aggregate of 825,000 additional common shares from the Company.

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