The meaning "change one's mind, go back on (one's word or promise)" is by 1784. OED identifies this as "orig. and chiefly U.S.," and adds that it is "Now the dominant sense," in the spelling renege. Three of its first four examples of it in this sense spell it renig, renigged. Related: Reneged; reneging.
Entries linking to renege
word-forming element meaning "back, back from, back to the original place;" also "again, anew, once more," also conveying the notion of "undoing" or "backward," etc. (see sense evolution below), c. 1200, from Old French re- and directly from Latin re- an inseparable prefix meaning "again; back; anew, against."
Watkins (2000) describes this as a "Latin combining form conceivably from Indo-European *wret-, metathetical variant of *wert- "to turn." De Vaan says the "only acceptable etymology" for it is a 2004 explanation which reconstructs a root in PIE *ure "back."
In earliest Latin the prefix became red- before vowels and h-, a form preserved in redact, redeem, redolent, redundant, redintegrate, and, in disguise, render (v.). In some English words from French and Italian re- appears as ra- and the following consonant is often doubled (see rally (v.1)).
The many meanings in the notion of "back" give re- its broad sense-range: "a turning back; opposition; restoration to a former state; "transition to an opposite state." From the extended senses in "again," re- becomes "repetition of an action," and in this sense it is extremely common as a formative element in English, applicable to any verb. OED writes that it is "impossible to attempt a complete record of all the forms resulting from its use," and adds that "The number of these is practically infinite ...."
Often merely intensive, and in many of the older borrowings from French and Latin the precise sense of re- is forgotten, lost in secondary senses, or weakened beyond recognition, so that it has no apparent semantic content (receive, recommend, recover, reduce, recreate, refer, religion, remain, request, require). There seem to have been more such words in Middle English than after, e.g. recomfort (v.) "to comfort, console; encourage;" recourse (n.) "a process, way, course." Recover in Middle English also could mean "obtain, win" (happiness, a kingdom, etc.) with no notion of getting something back, also "gain the upper hand, overcome; arrive at;" also consider the legal sense of recovery as "obtain (property) by judgment or legal proceedings."
And, due to sound changes and accent shifts, re- sometimes entirely loses its identity as a prefix (rebel, relic, remnant, restive, rest (n.2) "remainder," rally (v.1) "bring together"). In a few words it is reduced to r-, as in ransom (a doublet of redemption), rampart, etc.
Prefixed to a word beginning with e, re- is separated by a hyphen, as re-establish, re-estate, re-edify, etc. ; or else the second e has a dieresis over it: as, reëstablish, reëmbark, etc. The hyphen is also sometimes used to bring out emphatically the sense of repetition or iteration : as, sung and re-sung. The dieresis is not used over other vowels than e when re is prefixed : thus, reinforce, reunite, reabolish. [Century Dictionary, 1895]
It forms all or part of: a- (3) "not, without;" abnegate; ahimsa; an- (1) privative prefix; annihilate; annul; aught (n.2) "zero, nothing;" deny; hobnob; in- (1) "not, opposite of, without;" ixnay; naught; naughty; nay; nefarious; negate; neglect; negligee; negotiate; neither; nepenthe; nescience; nescient; neuter; never; nice; nihilism; nihility; nil; nill; nimiety; nix; no; non-; none; nonplus; nor; not; nothing; null; nullify; nulliparous; renegade; renege; un- (1) prefix of negation; willy-nilly.
It is the hypothetical source of/evidence for its existence is provided by: Sanskrit a-, an- "not;" Avestan na "not;" Greek a-, an-, ne- "not;" Latin in- "not," ne "that not;" Old Church Slavonic and Lithuanian ne "not;" Old Irish an-, ni, Cornish ny "not;" Gothic and Old English un- "not."
1580s, "an apostate from a religious faith," probably (with change of suffix) from Spanish renegado (also the form of the English word in Hakluyt, etc.), originally "a Christian turned Muslim," from Medieval Latin renegatus, noun use of past participle of renegare "deny" (see renege).
The general sense of "turncoat, one who deserts to an enemy" is from 1660s. The form renegate, directly from Medieval Latin, is attested in English from late 14c. As an adjective from 1705.