PREHEAT oven to 400°F. Tear off four 15-inch sheets of Reynolds Parchment Paper. Fold each sheet in half and crease it in the center. Unfold.
PLACE 1 snapper fillet on one-half of each sheet near crease. Spread 1 teaspoon pesto onto each snapper fillet. Top each fillet with bell pepper rings and tomatoes.
FOLD over other half of sheet to enclose ingredients. Starting at top corner, make small overlapping folds down entire length of packet to seal edges together. Twist the last fold several times to make a tight seal. Repeat to make 4 packets. Place parchment packets on large cookie sheet.
BAKE 15 to 17 minutes. Place parchment packets on dinner plates. Carefully cut an "X" in top of each packet to allow steam to escape. Serve immediately.