XML 26 R15.htm IDEA: XBRL DOCUMENT v3.21.1

Debt and Credit Facilities

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Debt and Credit Facilities

DEBT AND CREDIT FACILITIES

There have been no material changes to the Company’s debt obligations and credit facilities as described in its Form 10-K for the year ended December 31, 2020.

Debt Obligations

A summary of the Company’s debt obligations on its consolidated balance sheets is set forth below:

						March 31, 2021												December 31, 2020
						Fair Value						Carrying Value						Fair Value						Carrying Value
			3.600% Senior Notes due 2029			$	431,360					$	392,619					$	453,932					$	392,391
			3.450% Senior Notes due 2027			323,262						296,909						329,661						296,787
			3.700% Senior Notes due 2025			310,881						298,519						315,273						298,428
			4.750% Senior Notes due 2025 (DaVinciRe) (1)			165,746						148,736						162,203						148,659
			Total debt			$	1,231,249					$	1,136,783					$	1,261,069					$	1,136,265

(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.

Credit Facilities

The outstanding amounts issued or drawn under each of the Company’s significant credit facilities is set forth below:

			At March 31, 2021			Issued or Drawn
			Revolving Credit Facility (1)			$	—
			Bilateral Letter of Credit Facilities
			Secured			392,116
			Unsecured			488,532
			Funds at Lloyd’s Letter of Credit Facility			225,000
						$	1,105,648

(1)     At March 31, 2021, no amounts were issued or drawn under this facility.

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

+ Details

Name:	us-gaap_DebtDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration