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Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2021

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:

						December 31, 2021												December 31, 2020
						Fair Value						Carrying Value						Fair Value						Carrying Value
			3.600% Senior Notes due 2029			$	432,316					$	393,305					$	453,932					$	392,391
			3.450% Senior Notes due 2027			321,204						297,281						329,661						296,787
			3.700% Senior Notes due 2025			318,852						298,798						315,273						298,428
			4.750% Senior Notes due 2025 (DaVinciRe) (1)			166,071						148,969						162,203						148,659
			Total senior notes			1,238,443						1,138,353						1,261,069						1,136,265
			Medici Revolving Credit Facility (2)			30,000						30,000						—						—
			Total debt			$	1,268,443					$	1,168,353					$	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.

(2)        RenaissanceRe owns a noncontrolling economic interest in Medici. Because RenaissanceRe controls all of Medici’s outstanding voting rights, the financial statements of Medici are included in RenaissanceRe’s consolidated financial statements.

Schedule of Aggregate Amount of Maturities Related to the Company's Debt Obligations

The following table sets forth the scheduled maturity of the Company’s aggregate amount of its debt obligation reflected on its consolidated balance sheet at December 31, 2021:

			2022			$	30,000
			2023			—
			2024			—
			2025			450,000
			2026			—
			After 2026			700,000
			Unamortized fair value adjustments			—
			Unamortized discount and debt issuance expenses			(11,647)
						$	1,168,353

Schedule of Credit Facilities

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

			At December 31, 2021			Issued or Drawn
			Revolving Credit Facility (1)			$	—
			Medici Revolving Credit Facility (2)			30,000
			Bilateral Letter of Credit Facilities
			Secured			410,440
			Unsecured			369,324
			Funds at Lloyd’s Letter of Credit Facility			275,000
						$	1,084,764

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

(2)RenaissanceRe owns a noncontrolling economic interest in Medici. Because RenaissanceRe controls all of Medici’s outstanding voting rights, the financial statements of Medici are included in RenaissanceRe’s consolidated financial statements. The drawn amount of the Medici revolving credit facility is included on the Company’s consolidated balance sheets under debt.

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
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