RenaissanceRe Holdings Ltd. has launched a public offering to sell a new series of preference shares. The net proceeds from the offering will be used to redeem all of its outstanding 8.1 percent Series A Preference Shares as soon as practicable following completion of the offering and to redeem all of its outstanding 8.54 percent Junior Subordinated Deferrable Interest Debentures as soon as practicable on or after March 1, 2007.

Citigroup Corporate and Investment Banking and Wachovia Capital Markets, LLC are joint-book running managers for the offering.