XML 73 R54.htm IDEA: XBRL DOCUMENT v3.25.0.1
STATUTORY REQUIREMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Insurance [Abstract]  
Schedule of Actual and Required Statutory Capital and Surplus
The following table summarizes the statutory capital and surplus and required minimum statutory capital and surplus of the Company’s primary regulated insurance operations in its most significant regulatory jurisdictions:
Bermuda (1)
Switzerland (2)
U.K. (3)
U.S. (4)
At December 31,20242023202420232024202320242023
Statutory capital and surplus
$11,793,261 $12,141,907 $1,908,106 $2,644,998 $952,309 $935,776 $1,255,304 $1,044,010 
Required statutory capital and surplus
2,686,108 2,284,208 1,049,922 987,707 952,309 935,776 967,735 794,061 
(1)Includes Renaissance Reinsurance, DaVinci Reinsurance, RenaissanceRe Specialty U.S., Vermeer, Fontana and Validus Re (which was acquired in on November 1, 2023). The Company’s primary Bermuda-domiciled insurance subsidiaries’ required statutory capital and surplus is based on the minimum solvency margin. On October 1, 2024, Renaissance Reinsurance and Validus Re were amalgamated. The previously reported statutory capital and surplus and required statutory capital and surplus at December 31, 2023 have been updated to actual amounts filed and reflect guidance received by the BMA on February 23, 2024 related to the impact of the CIT in the statutory financial statements.
(2)Includes RREAG and its branches in Australia, Bermuda, the U.K. and the U.S., and Validus Switzerland (which was acquired on November 1, 2023) and its Bermuda branch. On June 21, 2024, Validus Switzerland merged into RREAG.
(3)Includes Syndicate 1458. With respect to statutory capital and surplus and required statutory capital and surplus, underwriting capacity of a member of Lloyd’s must be supported by providing a deposit in the form of cash, securities or letters of credit, which are referred to as FAL. Syndicate 1458 is capitalized by its FAL, with the related assets not held on its balance sheet.
(4)Includes Renaissance Reinsurance U.S.
Schedule of Statutory Net (Loss) Income
The following table summarizes the statutory net income (loss) of the Company’s primary regulated insurance operations in its most significant regulatory jurisdictions:
Statutory Net Income (Loss)
Bermuda (1)
Switzerland (2)
U.K. (3)
U.S. (4)
Year ended December 31, 2024
$2,056,265 $312,000 $89,169 $(87,897)
Year ended December 31, 2023
2,699,083 225,751 158,258 (17,618)
Year ended December 31, 2022
(706,676)(244,035)(24,573)35,344 
(1)Includes Renaissance Reinsurance, DaVinci Reinsurance, RenaissanceRe Specialty U.S., Vermeer, Fontana and Validus Re (which was acquired in on November 1, 2023). On October 1, 2024, Renaissance Reinsurance and Validus Re were amalgamated.
(2)Includes RREAG and its branches in Australia, Bermuda, the U.K. and the U.S., and Validus Switzerland and its Bermuda branch (which was acquired on November 1, 2023). On June 21, 2024 Validus Switzerland merged into RREAG.
(3)Includes Syndicate 1458.
(4)Includes Renaissance Reinsurance U.S.
Summary of Reinsurance Trusts
The following table summarizes the assets held under trust and minimum amount required with respect to the MBRTs:
At December 31.20242023
Assets Held Under Trust
Minimum Amount Required
Assets Held Under Trust
Minimum Amount Required
Renaissance Reinsurance (1)
$954,114 $554,119 $1,209,808 $910,646 
DaVinci Reinsurance179,849 47,179 174,352 114,203 
RREAG (2)
1,463,275 1,312,796 1,342,339 1,298,712 
(1) Renaissance Reinsurance and Validus Re amalgamated on October 1, 2024. Comparative information for 2023 has been reclassified to include Validus Re.
(2) RREAG and Validus Switzerland merged on June 21, 2024, with RREAG being the successor to the MBRTs held by Validus Switzerland.
The following table summarizes the assets held under trust and minimum amount required with respect to the reduced collateral reinsurance trusts:
At December 31.20242023
Assets Held Under Trust
Minimum Amount Required
Assets Held Under Trust
Minimum Amount Required
Renaissance Reinsurance$187,742 $83,622 $193,922 $129,380 
DaVinci Reinsurance220,542 73,210 215,560 125,184 
RREAG
101,252 $67,671 103,632 75,380