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Statutory Requirements (Tables)
 12 Months Ended
Dec. 31, 2023
Insurance [Abstract]  
Schedule of Actual and Required Statutory Capital and Surplus
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 are detailed below:
Bermuda (1)Switzerland (2)U.K. (3)U.S. (4)
At December 31,20232022202320222023202220232022
Statutory capital and surplus
$12,629,170 $8,275,191 $2,644,998 $1,086,800 $935,776 $1,012,639 $1,034,603 $1,078,042 
Required statutory capital and surplus
2,605,468 2,028,879 987,707 798,900 935,776 1,012,639 739,531 858,282 
(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’ capital and surplus is based on the relevant insurer’s statutory financial statements and required statutory capital and surplus is based on the minimum solvency margin.
(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. The statutory capital and surplus and required statutory capital and surplus incorporate a full year of statutory net profit (for Validus Switzerland, two months of consolidated results) and risk capital, respectively.
(3)Includes Syndicate 1458. With respect to statutory capital and surplus and required statutory capital and surplus, and as described below, 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 Funds at Lloyd’s (“FAL”). FAL is determined by Lloyd’s and is based on Syndicate 1458’s solvency and capital requirements as calculated through its internal model. 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
Statutory net income (loss) of the Company’s primary regulated insurance operations in its most significant regulatory jurisdictions are detailed below:
Statutory Net Income (Loss)
Bermuda (1)Switzerland (2)U.K. (3)U.S. (4)
Year ended December 31, 2023$2,904,049 $233,904 $158,258 $(17,268)
Year ended December 31, 2022
(700,666)(237,003)(24,573)35,344 
Year ended December 31, 2021
(89,267)80,500 (46,352)10,465 
(1)Includes Renaissance Reinsurance, DaVinci Reinsurance, RenaissanceRe Specialty U.S., Vermeer, Fontana and Validus Re (which was acquired in on November 1, 2023).
(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).
(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 31.20232022
Assets held under trust
Minimum amount required
Assets held under trust
Minimum amount required
Renaissance Reinsurance$584,708 $381,497 $633,737 $511,421 
DaVinci Reinsurance174,352 114,203 255,628 200,075 
Validus Re625,100 529,149 756,926 624,273 
Validus Switzerland1,342,339 1,298,712 1,064,755 1,055,377 
The following table summarizes the assets held under trust and minimum amount required with respect to the reduced collateral reinsurance trusts.
At December 31.20232022
Assets held under trust
Minimum amount required
Assets held under trust
Minimum amount required
Renaissance Reinsurance$193,922 $129,380 $172,741 $146,120 
DaVinci Reinsurance215,560 125,184 211,036 174,743 
RREAG
103,632 $75,380 106,538 98,312