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Debt and Credit Facilities
 6 Months Ended
Jun. 30, 2022
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, 2021.
The agreements governing the Company’s debt obligations and credit facilities contain certain customary representations, warranties and covenants. At June 30, 2022, the Company was not in violation of any of its debt covenants.
Debt Obligations
A summary of the Company’s debt obligations on its consolidated balance sheets is set forth below:
June 30, 2022December 31, 2021
Fair ValueCarrying ValueFair ValueCarrying Value
3.600% Senior Notes due 2029
$374,180 $393,762 $432,316 $393,305 
3.450% Senior Notes due 2027
287,397 297,527 321,204 297,281 
3.700% Senior Notes due 2025
297,375 298,981 318,852 298,798 
4.750% Senior Notes due 2025 (DaVinciRe) (1)
147,282 149,123 166,071 148,969 
Total senior notes1,106,234 1,139,393 1,238,443 1,138,353 
Medici Revolving Credit Facility (2)
30,000 30,000 30,000 30,000 
Total debt$1,136,234 $1,169,393 $1,268,443 $1,168,353 
(1)RenaissanceRe owns a noncontrolling economic interest in its joint venture DaVinciRe. Because RenaissanceRe controls a majority of DaVinciRe’s issued voting shares, 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 issued voting shares, the financial statements of Medici are included in RenaissanceRe’s consolidated financial statements.
Credit Facilities
The outstanding amounts issued or drawn under each of the Company’s significant credit facilities is set forth below:
At June 30, 2022Issued or Drawn
Revolving Credit Facility (1)
$— 
Medici Revolving Credit Facility (2)
30,000 
Bilateral Letter of Credit Facilities
Secured
384,079 
Unsecured
450,289 
Funds at Lloyd’s Letter of Credit Facility
275,000 
$1,139,368 
(1)At June 30, 2022, 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 issued voting shares, 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.