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Violation Tracker Individual Record

Company: RenaissanceRe Holdings Ltd.
Current Parent CompanyRenaissanceRe Holdings
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $15,000,000
Year: 2007
Date: February 6, 2007
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Violation Description: RenaissanceRe Holdings Ltd. agreed to pay $15 million to settle allegations that it created a sham reinsurance transaction that had no economic substance and no purpose other than to smooth and defer over $26 million of earnings from 2001 to 2002 and 2003.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Bermuda
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.