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DEBT AND CREDIT FACILITIES (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt Obligations

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

						June 30, 2024												December 31, 2023
						Fair Value						Carrying Value						Fair Value						Carrying Value
			5.750% Senior Notes due 2033			$	758,100					$	741,594					$	758,783					$	741,124
			3.600% Senior Notes due 2029			369,524						395,592						371,276						395,137
			3.450% Senior Notes due 2027			284,553						298,517						283,350						298,270
			3.700% Senior Notes due 2025			295,221						299,722						293,154						299,537
			4.750% Senior Notes due 2025 (DaVinci) (1)			148,526						149,742						147,489						149,587
			Total senior notes			1,855,924						1,885,167						1,854,052						1,883,655
			Medici Revolving Credit Facility (2)			75,000						75,000						75,000						75,000
			Total debt			$	1,930,924					$	1,960,167					$	1,929,052					$	1,958,655

(1)RenaissanceRe owns a noncontrolling economic interest in its joint venture DaVinci. Because RenaissanceRe controls a majority of DaVinci’s issued voting shares, the consolidated financial statements of DaVinci are included in the consolidated financial statements of RenaissanceRe. However, RenaissanceRe does not guarantee or provide credit support for DaVinci and RenaissanceRe’s financial exposure to DaVinci is limited to its investment in DaVinci’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. However, RenaissanceRe does not guarantee or provide credit support for Medici, and RenaissanceRe’s financial exposure to Medici is limited to its investment in Medici’s shares and counterparty credit risk arising from reinsurance transactions.

Schedule of Outstanding Amounts Issued or Drawn under Credit Facilities

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

			At June 30, 2024			Issued or Drawn
			Revolving Credit Facility (1)			$	—
			Medici Revolving Credit Facility (2)			75,000
			Bilateral Letter of Credit Facilities
			Secured			496,466
			Unsecured			681,834
			Funds at Lloyd’s Letter of Credit Facility			225,000
						$	1,478,300

(1)At June 30, 2024, 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. However, RenaissanceRe does not guarantee or provide credit support for Medici, and RenaissanceRe’s financial exposure to Medici is limited to its investment in Medici’s shares and counterparty credit risk arising from reinsurance transactions. The drawn amount of the Medici revolving credit facility is included on the Company’s consolidated balance sheets under debt.

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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