March 17, 2010 (FinancialWire) — RenaissanceRe Holdings Ltd. (NYSE: RNR) said that its RenRe North America Holdings unit has agreed to sell in an underwritten public offering $250 million of 5.750% senior notes due 2020.

The notes are guaranteed by RenaissanceRe Holdings Ltd. The company said it expects to close the offering on or about March 17.

RenaissanceRe plans to use the net proceeds from the offering for general corporate purposes.

Bermuda-based RenaissanceRe Holdings is a global provider of reinsurance and insurance. The company’s business consists of two segments: (1) Reinsurance, which includes catastrophe reinsurance, specialty reinsurance and certain joint ventures and other investments managed by the company’s subsidiary RenaissanceRe Ventures Ltd., and (2) Individual Risk, which includes primary insurance and quota share reinsurance.

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