DEBT AND CREDIT FACILITIES (Tables)

6 Months Ended

Jun. 30, 2023

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:

	June 30, 2023				December 31, 2022
	Fair value		Carrying value		Fair value		Carrying value
5.750% Senior Notes due 2033	$	736,995	$	740,620	$	—	$	—
3.600% Senior Notes due 2029	355,720		394,676		362,644		394,221
3.450% Senior Notes due 2027	280,005		298,022		280,506		297,775
3.700% Senior Notes due 2025	290,751		299,351		290,874		299,168
4.750% Senior Notes due 2025 (DaVinci) (1)	145,284		149,432		146,625		149,278
Total senior notes	1,808,755		1,882,101		1,080,649		1,140,442
Medici Revolving Credit Facility (2)	—		—		30,000		30,000
Total debt	$	1,808,755	$	1,882,101	$	1,110,649	$	1,170,442

(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 outstanding 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 Line of Credit Facilities

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

At June 30, 2023	Issued or drawn
Revolving Credit Facility (1)	$	—
Medici Revolving Credit Facility (2)	—
Bilateral Letter of Credit Facilities
Secured	395,583
Unsecured	497,308
Funds at Lloyd’s Letter of Credit Facility	275,000
	$	1,167,891

(1)At June 30, 2023, 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 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. At June 30, 2023, no amounts were issued or drawn under this facility.