DaVinciRe Holdings Ltd. -- Moody's affirms RenaissanceRe and changes outlook to negative following announced acquisition of Platinum Underwriters

New York, November 25, 2014 -- Moody's Investors Service has affirmed the ratings of RenaissanceRe Holdings Ltd. (NYSE: "RNR") and its subsidiaries (see complete list below), and changed the rating outlook to negative (from stable), after the company entered into an agreement to acquire Platinum Underwriters Holdings Ltd. (NYSE: "PTP", not rated). The negative outlook reflects Moody's opinion of the uncertain benefits and higher financial leverage from the combination. As part of its review, Moody's will evaluate PTP's reserve adequacy, track softening rate adequacy, and monitor customer receptivity to the combined entity.

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