RENAISSANCERE HOLDINGS LTD — Director's Dealing 2012

Mar 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RENAISSANCERE HOLDINGS LTD (RNR)
CIK: 0000913144
Period of Report: 2012-03-01

Reporting Person: Todd Rider Fonner (SVP & CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-01	Common Stock	A	9056	$0.0	Acquired	68292	Direct
2012-03-01	Common Stock (Performance Based)	A	7547	$0.0	Acquired	75839	Direct
2012-03-01	Common Stock	F	1290	$71.69	Disposed	74549	Direct
2012-03-01	Common Stock	M	1344	—	Acquired	75893	Direct
2012-03-01	Common Stock	D	1344	$71.69	Disposed	74549	Direct
2012-03-02	Common Stock	F	1504	$71.7	Disposed	73045	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-01	Restricted Stock Units	$	M	1344	Disposed		Common Stock (1344)	Direct

Footnotes

F1: These shares will vest in four equal annual installments beginning on March 1, 2013.

F2: Grant of restricted Common Stock of the Issuer, pursuant to its 2010 Performance-based Equity Incentive Plan. Vesting of these shares is subject to the satisfaction of both certain service-and performance-based vesting conditions. The amount of 7,547 reported as granted represents the maximum potential achievable award assuming maximum performance attainment in each of the subsequent three years, compared to a "target" award value equivalent to 3,018 shares. If minimal performance conditions are not met, all shares will be returned to the Performance Share Plan. The grant consists of three substantially equal performance measurement periods, and the number of shares in each tranche that ultimately vest is a function of the Issuer's Total Shareholder Return during a given calendar-year period relative to the members of a predetermined peer group of companies, and the satisfaction of applicable service conditions.

F3: This represents shares withheld by the Registrant in respect of payment of withholding tax liability incurred upon the vesting of restricted shares from grants made in two prior years which vested on March 1, 2012.

F4: The Reporting Person received a grant of Cash-Settled Restricted Stock Units ("CSRUs") on March 1, 2010 which vest in four equal annual installments beginning on March 1, 2011. Each CSRU represents a contingent right to receive, upon settlement, cash equal to the closing fair market value of one Common Share of the Issuer on the date of vesting.

F5: Represents the full value, gross of any applicable withholdings, of one quarter of the original CSRU grant which vested on March 1, 2012.

F6: Each CSRU was the economic equivalent of one share of the Issuer's Common Stock. On March 1, 2012, 1,344 of the Reporting Person's CSRUs were settled for cash.

F7: This represents shares withheld by the Registrant in respect of payment of withholding tax liability incurred upon the vesting of restricted shares from a grant made in a prior year which vested on March 2, 2012.