EXHIBIT 23.1
 
                        CONSENT OF INDEPENDENT AUDITORS
 
We consent to the reference to our firm in the Registration Statement on Form
S-8 of RenaissanceRe Holdings Ltd. pertaining to the Amended and Restated 1993
Stock Incentive Plan and the Non-Employee Director Stock Plan of RenaissanceRe
Holdings Ltd. and to the incorporation by reference therein of our report
dated January 16, 1996 with respect to the consolidated financial statements
and schedules of RenaissanceRe Holdings Ltd. appearing in the 1995 Annual
Report to Shareholders and incorporated by reference in the Annual Report on
Form 10-K for the year ended December 31, 1995, filed with the Securities and
Exchange Commission.
 
                                          /s/ Ernst & Young
 
Hamilton, Bermuda
June 17, 1996