RenaissanceRe Holdings has announced a quarterly dividend of $0.22 per common share on its common stock.

The dividend is payable on September 28 to shareholders of record on September 15.

In addition, the board of directors approved an increase in RenaissanceRe's stock repurchase program, bringing the total current authorisation to $500 million.

This authorisation includes the remainder amounts available under prior authorisations.

Under this program, RenaissanceRe may repurchase shares of its common stock in the open market based on, among other things, its ongoing capital requirements and expected cash flows, the market price of its common shares and its capital requirements.The repurchase program does not have an established expiration date.