RenaissanceRe Receives Subpoena from SEC

RenaissanceRe Holdings Ltd. announced that it has received a subpoena from the Securities and Exchange Commission in connection with an industry-wide investigation into non-traditional insurance products.

According to RenaissanceRe, the subpoena also requests information about the company’s previously announced determination to restate prior years’ financial statements to correct accounting errors, which were discovered in connection with a review.

RenaissanceRe expects to receive a similar request from the Office of the Attorney General for the State of New York. The company said in a statement that it intends to cooperate in responding to all such requests.