RenRe Promotes Fonner to Chief Risk/Investment Officer

August 11, 2006

Bermuda’s RenaissanceRe Holdings Ltd. has promoted Senior Vice President and Treasurer Todd R. Fonner to the positions of Chief Risk Officer and Chief Investment Officer, effective immediately.

Neill Currie, Chief Executive Officer, commented: “We are fortunate to have someone of Todd’s caliber to manage these critical aspects of our business and are pleased to recognize his many contributions to Renaissance with this promotion. Risk management is a cornerstone of our business and, as Senior Vice President & Treasurer, Todd has played a key role in the work we do to manage risk as an organization and continually improve upon that function. In addition, Todd has done an excellent job acting in the capacity of the Chief Investment Officer since July 2005. It’s more than appropriate that we make that role formal, and we look forward to his continued sound stewardship of our investment portfolio.”

In the newly established position of Chief Risk Officer, Fonner will be responsible for leading the ongoing assessment of RenRe’s overall risk profile. He will also work closely with business unit leaders to enhance processes to identify, assess, and manage business unit level risks.

“To manage the overall enterprise-wide risk profile, the position will also work with the Chief Financial Officer, Chief Compliance Officer and Chief Accounting Officer, who will remain responsible for the operational, compliance and regulatory risk and the financial controls of the company,” the bulletin explained. As Chief Investment Fonner will have management and oversight responsibility of RenRe’s investment portfolio and those of its subsidiaries and affiliates.

Fonner will report to Currie, and will be a member of the Operating Committee. He will continue to serve as Senior Vice President and Treasurer while an external search is undertaken for a successor.

Fonner, 39, joined RenRe in 2001 as Vice President and Treasurer. He formerly served as VP of Centre Solutions, responsible for underwriting and structuring finance and credit related transactions. From 1993 to 1996 he served as Manager of Strategic Planning for USF&G. He has over 15 years of insurance and reinsurance industry experience.

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