RenaissanceRe and Everest top-up buyback programmes
Bermudians RenaissanceRe and Everest Re have both seen their boards approve increased share repurchase programmes as they continue to pursue active capital management strategies.
RenaissanceRe said its board has approved an increase in its open-ended buyback programme that takes the total current authorization to $500mn.
During 2011, the company repurchased around 2.9 million of its common shares in open market transactions at an aggregate cost of $191.6mn and an average share price of $66.31.
Since the year-end, RenaissanceRe has bought...
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