RenaissanceRe Holdings Ltd.'s board of directors voted to raise its quarterly dividend for the 14th successive year.

The company, which was founded in 1993 to help fill the heightened demand for property-catastrophe reinsurance following the devastation caused by Hurricane Andrew in 1992, declared a quarterly dividend of 24 cents per common share, up from 23 cents.

The Company has increased its dividend during each of the 14 years since its initial public offering. The dividend is payable on March 31, 2009 to shareholders of record on March 13, 2009.

RenRe announced a fourth-quarter loss of $55 million last week, as investment losses overshadowed a strong underwriting performance.