RenaissanceRe Names New CEO; Stanard Offers Resignation

Bermuda-based RenaissanceRe Holdings Ltd. announced that the Board of Directors has appointed Neill Currie as chief executive officer and W. James MacGinnitie as non-executive chairman. These appointments are effective immediately.

The company also announced the resignation of James Stanard, chairman and CEO, in light of the ongoing investigations resulting from the company’s restatement of its financial results earlier this year. The company continues to cooperate with regulators on these investigations. Currie was also appointed to the Board of Directors.

RenaissanceRe also said that Chief Operating Officer and Chief Financial Officer John Lummis has indicated that he intends to retire at the end of his contract term on June 30, 2006.

The company said it has commenced a search for a successor, encompassing both internal and external candidates. Lummis indicated that he is committed to supporting the company in the search process and the transition. In addition, Marty Merritt, who served as controller until April 2005, has left the company.