RenaissanceRe Holdings Ltd., which last week said it would restate three years worth of financial statements to correct accounting errors, said yesterday it had received a subpoena from the US Securities and Exchange Commission in connection with an industry-wide probe into non-traditional insurance products.

The SEC also asked for information about RenRe?s restatement. The company said it intends to cooperate with the request and added it expects to receive a similar subpoena from New York Attorney General Eliot Spitzer.

In February, American International Group said it received subpoenas from the Securities and Exchange Commission and Spitzer?s office regarding non-traditional products that might help companies smooth earnings or hide losses.

Spitzer and the SEC are examining whether insurers sold policies that function as disguised loans, to help companies camouflage earnings weakness or losses.

Several insurers have received subpoenas or requests concerning the products, including ACE Ltd., the General Re Corp. unit of Warren Buffett?s Berkshire Hathaway Inc., Chubb Corp. and St. Paul Travelers Cos.

Last week, RenRe said would restate its 2001, 2002 and 2003 results to correct for accounting errors. The changes will boost 2001 net income by $20.6 million, cut 2002 earnings by $21.9 million, and lift 2003 profit by $1.3 million, the company said.

RenRe?s shares were down 26 cents to $47.62 in afternoon trading on the New York Stock Exchange.