LayersCreateFromText supports only one line.
You should use instead TImageEnVect: create a memo object, render on the canvas and then remove it. Example:
ImageEnVect1.ObjKind[IEV_NEXT_INSERTED_OBJECT] := iekMemo;
ImageEnVect1.ObjText[IEV_NEXT_INSERTED_OBJECT] := RichEdit1.Text;
ImageEnVect1.AddNewObject();
ImageEnVect1.AlphaChannel.Fill(0);
ImageEnVect1.CopyObjectsToBack(true, true);
ImageEnVect1.RemoveAllObjects();