RenaissanceRe Holdings Ltd. announced yesterday that it will launch an offering to sell $100 million in ten-year senior notes.

RenaissanceRe expects to use the net proceeds from the offering for general corporate purposes.

Standard & Poor's Ratings Service assigned an "A-" rating to the senior note issue, referring to "the very strong capital adequacy ... and very strong historical and current earnings and debt leverage appropriate to the rating range" of

RenaissanceRe Ltd., the company's Bermuda-based subsidiary.

According to S&P: "RenRe is expected to continue to outperform the sector and increase the capacity it offers to the market by raising capital as business conditions warrant."