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TimesSquare Capital believes the reinsurer’s shares are undervalued but could fetch a significant premium in a sale
A longtime shareholder is publicly pressing RenaissanceRe Holdings Ltd., one of the last remaining stand-alone reinsurers, to sell itself amid a flurry of deals in the sector.
Asset manager TimesSquare Capital Management LLC believes RenaissanceRe shares are undervalued but could fetch a significant premium in a sale, and it sent an open letter to the company’s management Tuesday urging it to start a process.