RenaissanceRe Announces Nomination of Three New Board Members.PEMBROKE, Bermuda -- RenaissanceRe Holdings Ltd. (NYSE NYSE
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RNR Rest and Recreation ) announced today that Edmund B. Greene, 69, Brian R. Hall, 65 and Scott E. Pardee, 71, three longtime members of its Board of Directors, will retire in conjunction with the Company's Annual Shareholder Meeting, when their terms of service (networking) Terms Of Service - (TOS) The rules laid down by an on-line service provider such as AOL that members must obey or risk being "TOS-sed" (disconnected). are scheduled to expire, and that the Board has nominated three new Directors to its Board. David C. Bushnell, former Chief Administrative Officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive and Senior Risk Officer of Citigroup Inc., James L. Gibbons Famous people named Gibbons include:
Please [ improve this article] or discuss the issue on the talk page. organization, and Anthony M. Santomero, former President of the Federal Reserve Bank of Philadelphia The Federal Reserve Bank of Philadelphia, headquartered in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern Pennsylvania, southern New Jersey, and Delaware. , will stand for election at the Company's Annual Shareholder Meeting.
Neill A. Currie, Chief Executive Officer, said, "Ed, Brian and Scott have played a central role in the growth and success of RenaissanceRe. Ed was a founding member of our Board, with Brian and Scott also joining early in our history. All have been strong stewards of our company throughout its development. We look forward to drawing on the expertise of David, James and Tony, each of whom brings to our Board a breadth of expertise in finance, risk management and other disciplines that will be invaluable to us as we continue to build upon RenaissanceRe's superior record of performance."
W. James MacGinnitie, Chairman, added, "On behalf of the entire Board of Directors, I'd like to thank Ed, Brian and Scott for their wise counsel over their many years of service. I'd also like to welcome our three new Directors, who bring a diverse set of skills and experience that greatly complements what we are fortunate to have already on our Board. I am confident that David, James and Tony will contribute greatly to our oversight of RenaissanceRe on behalf of all of its shareholders."
David C. Bushnell, 53, retired from Citigroup Inc. ("Citigroup") in November 2007 after 22 years of service, most recently as Chief Administrative Officer. Mr. Bushnell served as the Senior Risk Officer of Citigroup from 2003 through 2007, and was responsible for managing risk for Citigroup and all its member companies, with oversight responsibility for market, credit, operational risks and the compliance function. Mr. Bushnell was also a member of the Citigroup Management and Business Heads Committee, and a board member of Citibank, N.A. and other Citigroup affiliates. Prior to this experience, Mr. Bushnell worked for Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. Inc. (later acquired by Citigroup) and its predecessors in a variety of positions, including as a managing director and Chief Risk Officer.
James L. Gibbons, 44, is a Bermudian citizen who is President and Chief Executive of CAPITAL G Limited and Chairman of CAPITAL G Bank Limited, leading Bermuda-based financial services organizations, as well as President of Bermuda Air Conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. Limited. Mr. Gibbons has served as a Director of Gibbons Management Services Limited, and as Managing Director of Gibbons Deposit Company Limited. He began his career at Prudential Bache Securities after receiving a degree in Finance from Georgetown University Georgetown University, in the Georgetown section of Washington, D.C.; Jesuit; coeducational; founded 1789 by John Carroll, chartered 1815, inc. 1844. Its law and medical schools are noteworthy, and its archives are especially rich in letters and manuscripts by and in 1985.
Anthony M. Santomero, 61, most recently a Senior Advisor to McKinsey & Company, served as the ninth President of the Federal Reserve Bank of Philadelphia. In his six years at the Federal Reserve, he was a voting member of the Federal Open Market Committee, served as Chair of the System's Committee on Credit and Risk Management and also as member of the Financial Services Policy Committee and the Payments System Policy Advisory Committee. Dr. Santomero joined the Fed from the Wharton School of the University of Pennsylvania The Wharton School is the business school of University of Pennsylvania in Philadelphia, Pennsylvania. It was established in 1881 through a donation of Joseph Wharton, making it the world’s oldest business school. , where he was the Richard K. Mellon Professor of Finance, and served in a number of academic, consulting and managerial roles, including Deputy Dean of the School. He received his PhD from Brown University, and his AB from Fordham University.
RenaissanceRe Holdings Ltd. is a global provider of reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and insurance. Our business consists of two segments: (1) Reinsurance, which includes catastrophe reinsurance, specialty reinsurance and certain joint ventures and other investments managed by our subsidiary RenaissanceRe Ventures Ltd., and (2) Individual Risk business, which includes primary insurance and quota share reinsurance. RenaissanceRe is traded on the New York Stock Exchange New York Stock Exchange (NYSE)
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol
An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors 'RNR'. For more information, visit www.renre.com.
IMPORTANT ADDITIONAL INFORMATION
RenaissanceRe plans to file with the SEC and make available to its shareholders a Proxy Statement Proxy Statement
A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. relating to its 2008 Annual General Meeting. SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The Proxy Statement and other documents relating to the 2008 Annual General Meeting (when they are available) can be obtained free of charge from the SEC's website at http://www.sec.gov, from RenaissanceRe at the company's website at www.renre.com, or upon written request to RenaissanceRe Holdings Ltd., Attn: Office of the Corporate Secretary, P.O. Box HM 2527, Hamilton, HMGX, Bermuda.
RenaissanceRe and its directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the 2008 Annual General Meeting. Information regarding the interests of the directors and executive officers of RenaissanceRe in the solicitation will be more specifically set forth in the Proxy Statement that will be filed by RenaissanceRe with the SEC and which will be available free of charge from the SEC and RenaissanceRe, as indicated above. Information about the directors and executive officers of the Company may be found in its Proxy Statement relating to its 2007 Annual General Meeting, filed with the SEC on April 26, 2007.