XML 45 R30.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Subsequent Events | 12 Months Ended
--- | ---
Dec. 31, 2021
Subsequent Events [Abstract] |
Subsequent Events | SUBSEQUENT EVENTS Effective January 1, 2022, DaVinciRe completed an equity capital raise of $500.0 million, comprised of $284.8 million from third-party investors and $215.2 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $102.9 million of its shares in DaVinciRe to third-party investors and purchased an aggregate of $87.4 million of shares from third-party investors. At December 31, 2021, $387.8 million, representing the net amount received from investors other than the Company prior to December 31, 2021, is included in other liabilities on the Company's consolidated balance sheet, and also included in other operating cash flows on the Company's consolidated statements of cash flows for the year ended December 31, 2021. The Company’s noncontrolling economic ownership in DaVinciRe subsequent to these transactions was 30.9%, effective January 1, 2022. Effective January 1, 2022, Upsilon RFO issued $89.0 million of non-voting preference shares to investors, including $10.0 million to the Company. At December 31, 2021, $79.0 million, representing the amount received from investors other than the Company prior to December 31, 2021, is included in other liabilities on the Company’s consolidated balance sheet, and also included in other operating cash flows on the Company’s consolidated statements of cash flows for the year ended December 31, 2021. Effective January 1, 2022, the Company’s participation in the risks assumed by Upsilon RFO was 13.6%. Effective January 1, 2022, Medici issued $73.7 million of non-voting preference shares to investors, including $nil to the Company. At December 31, 2021, $73.7 million, representing the amount received from investors other than the Company prior to December 31, 2021, is included in other liabilities on the Company’s consolidated balance sheet, and also included in other operating cash flows on the Company’s consolidated statements of cash flows for the year ended December 31, 2021. The Company’s noncontrolling economic ownership in Medici subsequent to these transactions was 13.7%, effective January 1, 2022. Subsequent to December 31, 2021 and through the period ended February 2, 2022, the Company repurchased 462,350 common shares at an aggregate cost of $76.1 million and an average price of $164.52 per common share. On February 4, 2022, the Company’s Board of Directors approved a renewal of the authorized share repurchase program to an aggregate amount of up to $500.0 million.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration