RenaissanceRe says company has 'considered fully' TimesSquare's views
RenaissanceRe Holdings issued the following statement in response to a letter addressed to RenaissanceRe, publicly released by TimesSquare Capital Management, in which TimesSquare requested that RenaissanceRe's Board of Directors commence a review of strategic alternatives. The company said, "RenaissanceRe welcomes open and constructive communications with all shareholders and values their input. In this regard, members of our senior management team have held numerous meetings with TimesSquare over the past few years. In particular, both our Chairman of the Board and our CEO have separately met with TimesSquare in recent months. We have considered fully TimesSquare's views and have shared them with our Board. Our Board understands, and is committed to, its fiduciary duties to act in the best interests of all shareholders. Our Board and management team continuously focus on enhancing shareholder value through execution of the Company's strategic plan. We will maintain an open and active dialogue with all of our shareholders as we continue to work to enhance shareholder value."