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Debt and Credit Facilities (Tables)
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
A summary of the Company’s debt obligations on its consolidated balance sheets is set forth below:
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2017
 
December 31, 2016
 
 
 
Fair Value
 
Carrying Value
 
Fair Value
 
Carrying Value
 
 
3.450% Senior Notes due 2027
$
296,400

 
$
295,053

 
$

 
$

 
 
3.700% Senior Notes due 2025
300,327

 
297,132

 
291,750

 
296,948

 
 
5.75% Senior Notes due 2020
268,228

 
249,106

 
270,875

 
248,941

 
 
Series B 7.50% Senior Notes due 2017

 

 
257,500

 
255,352

 
 
4.750% Senior Notes due 2025 (DaVinciRe) (1)
156,386

 
147,575

 
144,675

 
147,422

 
 
 
$
1,021,341

 
$
988,866

 
$
964,800

 
$
948,663

 
 
 
 
 
 
 
 
 
 
 
(1)
RenaissanceRe owns a noncontrolling economic interest in its joint venture DaVinciRe. Because RenaissanceRe controls a majority of DaVinciRe’s outstanding voting rights, the consolidated financial statements of DaVinciRe are included in the consolidated financial statements of RenaissanceRe. However, RenaissanceRe does not guarantee or provide credit support for DaVinciRe and RenaissanceRe’s financial exposure to DaVinciRe is limited to its investment in DaVinciRe’s shares and counterparty credit risk arising from reinsurance transactions.
Schedule of Line of Credit Facilities
The outstanding amounts issued or drawn under each of the Company’s significant credit facilities is set forth below:
 
 
 
 
 
At June 30, 2017
Issued or Drawn
 
 
RenaissanceRe Revolving Credit Facility
$

 
 
Uncommitted Standby Letter of Credit Facility with Wells Fargo
105,892

 
 
Uncommitted Standby Letter of Credit Facility with NAB
4,525

 
 
Bilateral Letter of Credit Facility with Citibank Europe
206,383

 
 
Funds at Lloyd’s Letter of Credit Facilities
 
 
 
Renaissance Reinsurance FAL Facility
180,000

 
 
Total credit facilities in U.S. dollars
$
496,800

 
 
 
 
 
 
Funds at Lloyd’s Letter of Credit Facilities
 
 
 
Specialty Risks FAL Facility
£
10,000

 
 
Total credit facilities in British Pounds
£
10,000