RenaissanceRe Holdings Ltd. has announced the retirement of long-serving director William Hecht and the appointment of former chairman and CEO of The Northwestern Mutual Life Insurance Company Edward Zore to the board, as of Wednesday.

Mr. Hecht, 67, served as a member of the board since November 2001.

Mr. Zore, 65, has served in a number of roles at Northwestern Mutual, principally as chairman (March 2009 to July 2010), CEO (June 2001 to June 2010), and president (March 2000 to March 2009).

He currently serves on the Northwestern Mutual Board of Trustees, having joined the company's investment department in 1969, and has also served as the company's executive vice-president, chief financial officer, chief investment officer, and as a director of Northwestern Mutual Series Fund Inc.

Mr. Zore is a member of the board of directors of Manpower Inc., and chairs the company's audit committee. He is a former chairman of the board of the American Council of Life Insurers, and former honorary board member of the Million Dollar Round Table Foundation.

Neill Currie, CEO of RenRe, said: "We are indebted to Bill for the guidance he has provided over the decade and for his significant contribution to our growth and development. We look forward to the new insights that Ed will bring to the boardroom, after a career of leadership and achievement at Northwestern Mutual."

Meanwhile, RenRe's board of directors has announced a quarterly dividend of 25 cents per share on its common stock. The dividend is payable on September 30, 2010 to shareholders of record on September 15, 2010.

In addition, the board has approved an increase in the company's stock repurchase programme, bringing the total current authorisation to an aggregate of $500 million.