RenaissanceRe Holdings Ltd. said today that the Securities and Exchange Commission has accepted the company's previously announced offer to pay more than $15 million in penalties to settle a probe of accounting irregularities.
The SEC's investigation related to the company's restatement of its financial statements for the years ended Dec. 31, 2001, 2002 and 2003.
Terms of the settlement are unchanged from the settlement-in-principle originally announced July 31, 2006, the Pembroke, Bermuda-based company said.
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