RenaissanceRe announced the replacement of a senior executive with Bermuda citizenship who refused to accept a Securities and Exchange Commission subpoena in a probe of the company's financial statements.

The Pembroke, Bermuda-based company accepted the resignation of Michael W. Cash, senior vice president-specialty reinsurance, after he refused an SEC demand for his testimony in its investigation into the restatement of the company's financial statements.

RenaissanceRe, which said its previously announced company policy is to cooperate with SEC inquiries, named Neill A. Currie to fill Mr. Cash's post. Mr. Currie, a co-founder of the reinsurer in 1993, rejoined the firm recently as an executive vice president.

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