RenaissanceRe files $450 mln debt, pref share, trust pfd, stock shelf

By Peter Heap

New York, Oct. 1 - RenaissanceRe Holdings Ltd. filed a shelf registration for up to $450 million of debt securities, preference shares, trust preferreds, stock, share purchase contracts, share purchase units and warrants with the Securities and Exchange Commission Monday.

The Pembroke, Bermuda property catastrophe reinsurance company said the debt securities may be issued as convertibles.

Included in the total size of $450 million is $50 million of previously registered but unsold securities.

Proceeds from the securities sales will be used for working capital, capital expenditures, acquisitions and other general corporate purposes.

For the six months to June 30, 2001, RenaissanceRe had an earnings to fixed charge ratio of 17.34:1 compared to 5.34:1 for the same period a year earlier.

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