Bermuda reinsurer RenaissanceRe Holdings Ltd. announced a retirement transition plan for its president William I. Riker yesterday. Mr. Riker will remain with the company until the end of 2007, and thereafter remain an employee serving in an advisory capacity until August 2008.

RenRe chief executive officer Neill Currie will also assume the role of president. "Bill has been an important part of RenaissanceRe since our first year of operation in 1993, playing a central role in forming and executing the strategy that has led to our success," Mr. Currie said. "Though we will miss him as a member of the team after his departure, we look forward to working with Bill through the course of the next year."

RenRe yesterday also announced a quarterly dividend of $0.22 per common share on its common stock. The dividend is payable on June 29, 2007 to shareholders of record on June 15, 2007.