Henry Klehm III has been appointed non-executive chairman of RenaissanceRe’s board of directors, the Bermudian-based reinsurer announced.

He will succeed James Gibbons in the role. Mr Gibbons will continue to serve as an independent director of RenRe and member of the Audit Committee.

Stephen Hooley has been elected to serve as an independent director of the Company, succeeding David Bushnell who is retiring from the board after 18 years of service.

RenRe also announced that its board had declared a quarterly dividend of 41 cents per common share, payable on June 30, 2026, to shareholders of record on June 15, 2026.

The company’s board also approved a renewal of RenRe’s authorised share repurchase programme, bringing the total current authorisation up to $750 million, which includes the remaining amounts under prior authorisations.

RenRe said the programme will expire when the company has repurchased the full value of the shares authorised, unless terminated earlier by the board.

Kevin O’Donnell, RenRe’s chief executive officer, said: “I want to thank James for his exceptional leadership as non-executive chair over the past decade. His guidance has been invaluable as we navigated a period of significant strategic growth and transformation.

“I look forward to the leadership that Henry will bring as chair given his deep expertise in risk, compliance and corporate governance.”