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Level 3 - At December 31, 2024, the Company had a $ 0.4 million net liability (2023 - $ 0.5 million net liability) related to assumed and ceded (re)insurance contracts accounted for at fair value, with the fair value obtained through the use of an internal valuation model. The inputs to the internal valuation model are principally based on proprietary data as observable market inputs are generally not available. The most significant unobservable inputs include the assumed and ceded expected net cash flows related to the contracts, including the expected premium, acquisition expenses and losses; the expected loss ratio and the relevant discount rate used to present value the net cash flows. The contract period and acquisition expense ratio are considered an observable input as each is defined in the contract. Generally, an increase in the net expected cash flows and expected term of the contract and a decrease in the discount rate, expected loss ratio or acquisition expense ratio, would result in an increase in the expected profit and ultimate fair value of these assumed and ceded (re)insurance contracts. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Level 3 - At December 31, 2024, the Company had a $ 0.4 million net liability (2023 - $ 0.5 million net liability) related to assumed and ceded (re)insurance contracts accounted for at fair value, with the fair value obtained through the use of an internal valuation model. The inputs to the internal valuation model are principally based on proprietary data as observable market inputs are generally not available. The most significant unobservable inputs include the assumed and ceded expected net cash flows related to the contracts, including the expected premium, acquisition expenses and losses; the expected loss ratio and the relevant discount rate used to present value the net cash flows. The contract period and acquisition expense ratio are considered an observable input as each is defined in the contract. Generally, an increase in the net expected cash flows and expected term of the contract and a decrease in the discount rate, expected loss ratio or acquisition expense ratio, would result in an increase in the expected profit and ultimate fair value of these assumed and ceded (re)insurance contracts. </context> | us-gaap:OtherLiabilitiesFairValueDisclosure |
Level 3 - At December 31, 2024, the Company had a $ 0.4 million net liability (2023 - $ 0.5 million net liability) related to assumed and ceded (re)insurance contracts accounted for at fair value, with the fair value obtained through the use of an internal valuation model. The inputs to the internal valuation model are principally based on proprietary data as observable market inputs are generally not available. The most significant unobservable inputs include the assumed and ceded expected net cash flows related to the contracts, including the expected premium, acquisition expenses and losses; the expected loss ratio and the relevant discount rate used to present value the net cash flows. The contract period and acquisition expense ratio are considered an observable input as each is defined in the contract. Generally, an increase in the net expected cash flows and expected term of the contract and a decrease in the discount rate, expected loss ratio or acquisition expense ratio, would result in an increase in the expected profit and ultimate fair value of these assumed and ceded (re)insurance contracts. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> Level 3 - At December 31, 2024, the Company had a $ 0.4 million net liability (2023 - $ 0.5 million net liability) related to assumed and ceded (re)insurance contracts accounted for at fair value, with the fair value obtained through the use of an internal valuation model. The inputs to the internal valuation model are principally based on proprietary data as observable market inputs are generally not available. The most significant unobservable inputs include the assumed and ceded expected net cash flows related to the contracts, including the expected premium, acquisition expenses and losses; the expected loss ratio and the relevant discount rate used to present value the net cash flows. The contract period and acquisition expense ratio are considered an observable input as each is defined in the contract. Generally, an increase in the net expected cash flows and expected term of the contract and a decrease in the discount rate, expected loss ratio or acquisition expense ratio, would result in an increase in the expected profit and ultimate fair value of these assumed and ceded (re)insurance contracts. </context> | us-gaap:OtherLiabilitiesFairValueDisclosure |
Included on the Company’s consolidated balance sheet at December 31, 2024 were debt obligations of $ 1.9 billion (2023 - $ 2.0 billion). At December 31, 2024, the fair value of the Company’s debt obligations was $ 1.9 billion (2023 - $ 1.9 billion). | text | 1.9 | monetaryItemType | text: <entity> 1.9 </entity> <entity type> monetaryItemType </entity type> <context> Included on the Company’s consolidated balance sheet at December 31, 2024 were debt obligations of $ 1.9 billion (2023 - $ 2.0 billion). At December 31, 2024, the fair value of the Company’s debt obligations was $ 1.9 billion (2023 - $ 1.9 billion). </context> | us-gaap:LongTermDebt |
Included on the Company’s consolidated balance sheet at December 31, 2024 were debt obligations of $ 1.9 billion (2023 - $ 2.0 billion). At December 31, 2024, the fair value of the Company’s debt obligations was $ 1.9 billion (2023 - $ 1.9 billion). | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> Included on the Company’s consolidated balance sheet at December 31, 2024 were debt obligations of $ 1.9 billion (2023 - $ 2.0 billion). At December 31, 2024, the fair value of the Company’s debt obligations was $ 1.9 billion (2023 - $ 1.9 billion). </context> | us-gaap:LongTermDebt |
Included on the Company’s consolidated balance sheet at December 31, 2024 were debt obligations of $ 1.9 billion (2023 - $ 2.0 billion). At December 31, 2024, the fair value of the Company’s debt obligations was $ 1.9 billion (2023 - $ 1.9 billion). | text | 1.9 | monetaryItemType | text: <entity> 1.9 </entity> <entity type> monetaryItemType </entity type> <context> Included on the Company’s consolidated balance sheet at December 31, 2024 were debt obligations of $ 1.9 billion (2023 - $ 2.0 billion). At December 31, 2024, the fair value of the Company’s debt obligations was $ 1.9 billion (2023 - $ 1.9 billion). </context> | us-gaap:LongTermDebtFairValue |
The change in fair value of other investments resulted in net unrealized gains on investments in 2024 of $ 243.8 million (2023 – gains of $ 137.3 million, 2022 – losses of $ 181.2 million). | text | 243.8 | monetaryItemType | text: <entity> 243.8 </entity> <entity type> monetaryItemType </entity type> <context> The change in fair value of other investments resulted in net unrealized gains on investments in 2024 of $ 243.8 million (2023 – gains of $ 137.3 million, 2022 – losses of $ 181.2 million). </context> | us-gaap:UnrealizedGainLossOnInvestments |
The change in fair value of other investments resulted in net unrealized gains on investments in 2024 of $ 243.8 million (2023 – gains of $ 137.3 million, 2022 – losses of $ 181.2 million). | text | 137.3 | monetaryItemType | text: <entity> 137.3 </entity> <entity type> monetaryItemType </entity type> <context> The change in fair value of other investments resulted in net unrealized gains on investments in 2024 of $ 243.8 million (2023 – gains of $ 137.3 million, 2022 – losses of $ 181.2 million). </context> | us-gaap:UnrealizedGainLossOnInvestments |
The change in fair value of other investments resulted in net unrealized gains on investments in 2024 of $ 243.8 million (2023 – gains of $ 137.3 million, 2022 – losses of $ 181.2 million). | text | 181.2 | monetaryItemType | text: <entity> 181.2 </entity> <entity type> monetaryItemType </entity type> <context> The change in fair value of other investments resulted in net unrealized gains on investments in 2024 of $ 243.8 million (2023 – gains of $ 137.3 million, 2022 – losses of $ 181.2 million). </context> | us-gaap:UnrealizedGainLossOnInvestments |
At December 31, 2024, the Company’s premiums receivable balance was $ 7.3 billion (2023 - $ 7.3 billion). Of the Company’s premiums receivable balance as of December 31, 2024, the majority are receivable from highly rated counterparties. The provision for current expected credit losses on the Company’s premiums receivable was $ 4.6 million at December 31, 2024 (2023 - $ 3.5 million). The following table provides a roll forward of the provision for current expected credit losses of the Company’s premiums receivable: | text | 7.3 | monetaryItemType | text: <entity> 7.3 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the Company’s premiums receivable balance was $ 7.3 billion (2023 - $ 7.3 billion). Of the Company’s premiums receivable balance as of December 31, 2024, the majority are receivable from highly rated counterparties. The provision for current expected credit losses on the Company’s premiums receivable was $ 4.6 million at December 31, 2024 (2023 - $ 3.5 million). The following table provides a roll forward of the provision for current expected credit losses of the Company’s premiums receivable: </context> | us-gaap:PremiumsReceivableAtCarryingValue |
At December 31, 2024, the Company’s premiums receivable balance was $ 7.3 billion (2023 - $ 7.3 billion). Of the Company’s premiums receivable balance as of December 31, 2024, the majority are receivable from highly rated counterparties. The provision for current expected credit losses on the Company’s premiums receivable was $ 4.6 million at December 31, 2024 (2023 - $ 3.5 million). The following table provides a roll forward of the provision for current expected credit losses of the Company’s premiums receivable: | text | 4.6 | monetaryItemType | text: <entity> 4.6 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the Company’s premiums receivable balance was $ 7.3 billion (2023 - $ 7.3 billion). Of the Company’s premiums receivable balance as of December 31, 2024, the majority are receivable from highly rated counterparties. The provision for current expected credit losses on the Company’s premiums receivable was $ 4.6 million at December 31, 2024 (2023 - $ 3.5 million). The following table provides a roll forward of the provision for current expected credit losses of the Company’s premiums receivable: </context> | us-gaap:PremiumsReceivableAllowanceForDoubtfulAccounts |
At December 31, 2024, the Company’s premiums receivable balance was $ 7.3 billion (2023 - $ 7.3 billion). Of the Company’s premiums receivable balance as of December 31, 2024, the majority are receivable from highly rated counterparties. The provision for current expected credit losses on the Company’s premiums receivable was $ 4.6 million at December 31, 2024 (2023 - $ 3.5 million). The following table provides a roll forward of the provision for current expected credit losses of the Company’s premiums receivable: | text | 3.5 | monetaryItemType | text: <entity> 3.5 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the Company’s premiums receivable balance was $ 7.3 billion (2023 - $ 7.3 billion). Of the Company’s premiums receivable balance as of December 31, 2024, the majority are receivable from highly rated counterparties. The provision for current expected credit losses on the Company’s premiums receivable was $ 4.6 million at December 31, 2024 (2023 - $ 3.5 million). The following table provides a roll forward of the provision for current expected credit losses of the Company’s premiums receivable: </context> | us-gaap:PremiumsReceivableAllowanceForDoubtfulAccounts |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 4.5 | monetaryItemType | text: <entity> 4.5 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ReinsuranceRecoverables |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 5.3 | monetaryItemType | text: <entity> 5.3 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ReinsuranceRecoverables |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 55.7 | percentItemType | text: <entity> 55.7 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 43.2 | percentItemType | text: <entity> 43.2 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 1.0 | percentItemType | text: <entity> 1.0 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 60.6 | percentItemType | text: <entity> 60.6 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 38.5 | percentItemType | text: <entity> 38.5 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 0.9 | percentItemType | text: <entity> 0.9 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 12.6 | percentItemType | text: <entity> 12.6 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 11.0 | percentItemType | text: <entity> 11.0 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 8.3 | percentItemType | text: <entity> 8.3 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 17.6 | percentItemType | text: <entity> 17.6 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 14.3 | percentItemType | text: <entity> 14.3 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 8.7 | percentItemType | text: <entity> 8.7 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 11.7 | monetaryItemType | text: <entity> 11.7 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ReinsuranceRecoverablesAllowance |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 13.3 | monetaryItemType | text: <entity> 13.3 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ReinsuranceRecoverablesAllowance |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 23.9 | percentItemType | text: <entity> 23.9 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 7.2 | percentItemType | text: <entity> 7.2 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 5.9 | percentItemType | text: <entity> 5.9 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 10.9 | percentItemType | text: <entity> 10.9 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 10.7 | percentItemType | text: <entity> 10.7 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: | text | 8.1 | percentItemType | text: <entity> 8.1 </entity> <entity type> percentItemType </entity type> <context> At December 31, 2024, the Company’s reinsurance recoverable balance was $ 4.5 billion (2023 - $ 5.3 billion). Of the Company’s reinsurance recoverable balance at December 31, 2024, 55.7 % is fully collateralized by the Company’s reinsurers, 43.2 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.0 % is recoverable from reinsurers rated lower than A- by major rating agencies (2023 - 60.6 %, 38.5 % and 0.9 %, respectively). The reinsurers with the three largest balances accounted for 12.6 %, 11.0 % and 8.3 %, respectively, of the Company’s reinsurance recoverable balance at December 31, 2024 (2023 - 17.6 %, 14.3 % and 8.7 %, respectively). The provision for current expected credit losses was $ 11.7 million at December 31, 2024 (2023 - $ 13.3 million). The three largest company-specific components of the provision for current expected credit losses represented 23.9 %, 7.2 % and 5.9 %, respectively, of the Company’s total provision for current expected credit losses at December 31, 2024 (2023 - 10.9 %, 10.7 % and 8.1 %, respectively). The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable: </context> | us-gaap:ConcentrationRiskPercentage1 |
Changes to prior year estimated net claims and claim expenses increased net income by $ 851.3 million during the year ended December 31, 2024 (2023 - increased net income by $ 450.6 million, 2022 - increased net income by $ 247.6 million), excluding the consideration of changes in reinstatement, adjustment or other premium changes, profit commissions, redeemable noncontrolling interests - DaVinci, Fontana and Vermeer and income tax. | text | 851.3 | monetaryItemType | text: <entity> 851.3 </entity> <entity type> monetaryItemType </entity type> <context> Changes to prior year estimated net claims and claim expenses increased net income by $ 851.3 million during the year ended December 31, 2024 (2023 - increased net income by $ 450.6 million, 2022 - increased net income by $ 247.6 million), excluding the consideration of changes in reinstatement, adjustment or other premium changes, profit commissions, redeemable noncontrolling interests - DaVinci, Fontana and Vermeer and income tax. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
Changes to prior year estimated net claims and claim expenses increased net income by $ 851.3 million during the year ended December 31, 2024 (2023 - increased net income by $ 450.6 million, 2022 - increased net income by $ 247.6 million), excluding the consideration of changes in reinstatement, adjustment or other premium changes, profit commissions, redeemable noncontrolling interests - DaVinci, Fontana and Vermeer and income tax. | text | 450.6 | monetaryItemType | text: <entity> 450.6 </entity> <entity type> monetaryItemType </entity type> <context> Changes to prior year estimated net claims and claim expenses increased net income by $ 851.3 million during the year ended December 31, 2024 (2023 - increased net income by $ 450.6 million, 2022 - increased net income by $ 247.6 million), excluding the consideration of changes in reinstatement, adjustment or other premium changes, profit commissions, redeemable noncontrolling interests - DaVinci, Fontana and Vermeer and income tax. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
Changes to prior year estimated net claims and claim expenses increased net income by $ 851.3 million during the year ended December 31, 2024 (2023 - increased net income by $ 450.6 million, 2022 - increased net income by $ 247.6 million), excluding the consideration of changes in reinstatement, adjustment or other premium changes, profit commissions, redeemable noncontrolling interests - DaVinci, Fontana and Vermeer and income tax. | text | 247.6 | monetaryItemType | text: <entity> 247.6 </entity> <entity type> monetaryItemType </entity type> <context> Changes to prior year estimated net claims and claim expenses increased net income by $ 851.3 million during the year ended December 31, 2024 (2023 - increased net income by $ 450.6 million, 2022 - increased net income by $ 247.6 million), excluding the consideration of changes in reinstatement, adjustment or other premium changes, profit commissions, redeemable noncontrolling interests - DaVinci, Fontana and Vermeer and income tax. </context> | us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense |
Included in other income (loss) during 2024 was $ 0.2 million related to income earned on assumed reinsurance contracts that were classified as deposit contracts with underwriting risk only (2023 - $ 0.2 million, 2022 - $ 0.2 million). Deposit liabilities of $ 3.5 million are included in reinsurance balances payable at December 31, 2024 (2023 - $ 3.7 million). | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> Included in other income (loss) during 2024 was $ 0.2 million related to income earned on assumed reinsurance contracts that were classified as deposit contracts with underwriting risk only (2023 - $ 0.2 million, 2022 - $ 0.2 million). Deposit liabilities of $ 3.5 million are included in reinsurance balances payable at December 31, 2024 (2023 - $ 3.7 million). </context> | us-gaap:OtherOperatingIncomeExpenseNet |
Included in other income (loss) during 2024 was $ 0.2 million related to income earned on assumed reinsurance contracts that were classified as deposit contracts with underwriting risk only (2023 - $ 0.2 million, 2022 - $ 0.2 million). Deposit liabilities of $ 3.5 million are included in reinsurance balances payable at December 31, 2024 (2023 - $ 3.7 million). | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> Included in other income (loss) during 2024 was $ 0.2 million related to income earned on assumed reinsurance contracts that were classified as deposit contracts with underwriting risk only (2023 - $ 0.2 million, 2022 - $ 0.2 million). Deposit liabilities of $ 3.5 million are included in reinsurance balances payable at December 31, 2024 (2023 - $ 3.7 million). </context> | us-gaap:PolicyholderBenefitsAndClaimsIncurredNet |
Included in other income (loss) during 2024 was $ 0.2 million related to income earned on assumed reinsurance contracts that were classified as deposit contracts with underwriting risk only (2023 - $ 0.2 million, 2022 - $ 0.2 million). Deposit liabilities of $ 3.5 million are included in reinsurance balances payable at December 31, 2024 (2023 - $ 3.7 million). | text | 3.5 | monetaryItemType | text: <entity> 3.5 </entity> <entity type> monetaryItemType </entity type> <context> Included in other income (loss) during 2024 was $ 0.2 million related to income earned on assumed reinsurance contracts that were classified as deposit contracts with underwriting risk only (2023 - $ 0.2 million, 2022 - $ 0.2 million). Deposit liabilities of $ 3.5 million are included in reinsurance balances payable at December 31, 2024 (2023 - $ 3.7 million). </context> | us-gaap:DepositContractsLiabilities |
Included in other income (loss) during 2024 was $ 0.2 million related to income earned on assumed reinsurance contracts that were classified as deposit contracts with underwriting risk only (2023 - $ 0.2 million, 2022 - $ 0.2 million). Deposit liabilities of $ 3.5 million are included in reinsurance balances payable at December 31, 2024 (2023 - $ 3.7 million). | text | 3.7 | monetaryItemType | text: <entity> 3.7 </entity> <entity type> monetaryItemType </entity type> <context> Included in other income (loss) during 2024 was $ 0.2 million related to income earned on assumed reinsurance contracts that were classified as deposit contracts with underwriting risk only (2023 - $ 0.2 million, 2022 - $ 0.2 million). Deposit liabilities of $ 3.5 million are included in reinsurance balances payable at December 31, 2024 (2023 - $ 3.7 million). </context> | us-gaap:DepositContractsLiabilities |
5.750 % Senior Notes due 2033 | text | 5.750 | percentItemType | text: <entity> 5.750 </entity> <entity type> percentItemType </entity type> <context> 5.750 % Senior Notes due 2033 </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On June 5, 2023, the Company issued $ 750.0 million of its 5.750 % Senior Notes due June 5, 2033, with interest on the notes payable on June 5 and December 5 of each year, commencing on December 5, 2023. The notes are redeemable at the applicable redemption price, subject to the terms described in the indenture for the notes. However, the notes (i) may not be redeemed at any time prior to June 5, 2026 without approval of the Bermuda Monetary Authority (the “BMA”) and (ii) may not be redeemed or repaid at any time if enhanced capital requirements, as established by the BMA, would be breached immediately before or after giving effect to the redemption or repayment of such notes, unless, in each case, RenaissanceRe replaces the capital represented by the notes to be redeemed or repaid with capital having equal or better capital treatment as the notes under applicable BMA rules. The notes contain various covenants including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries. The Company received net proceeds of approximately $ 741.0 million from the offering of senior notes after deducting the underwriting discounts and estimated offering expenses payable by the Company. The Company used the net proceeds from this offering to fund a portion of the cash consideration for the Validus Acquisition, which closed on November 1, 2023, to pay related costs and expenses, and for general corporate purposes. See “Note 3. Acquisition of Validus” for additional information regarding the Validus Acquisition. | text | 750.0 | monetaryItemType | text: <entity> 750.0 </entity> <entity type> monetaryItemType </entity type> <context> On June 5, 2023, the Company issued $ 750.0 million of its 5.750 % Senior Notes due June 5, 2033, with interest on the notes payable on June 5 and December 5 of each year, commencing on December 5, 2023. The notes are redeemable at the applicable redemption price, subject to the terms described in the indenture for the notes. However, the notes (i) may not be redeemed at any time prior to June 5, 2026 without approval of the Bermuda Monetary Authority (the “BMA”) and (ii) may not be redeemed or repaid at any time if enhanced capital requirements, as established by the BMA, would be breached immediately before or after giving effect to the redemption or repayment of such notes, unless, in each case, RenaissanceRe replaces the capital represented by the notes to be redeemed or repaid with capital having equal or better capital treatment as the notes under applicable BMA rules. The notes contain various covenants including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries. The Company received net proceeds of approximately $ 741.0 million from the offering of senior notes after deducting the underwriting discounts and estimated offering expenses payable by the Company. The Company used the net proceeds from this offering to fund a portion of the cash consideration for the Validus Acquisition, which closed on November 1, 2023, to pay related costs and expenses, and for general corporate purposes. See “Note 3. Acquisition of Validus” for additional information regarding the Validus Acquisition. </context> | us-gaap:DebtInstrumentFaceAmount |
On June 5, 2023, the Company issued $ 750.0 million of its 5.750 % Senior Notes due June 5, 2033, with interest on the notes payable on June 5 and December 5 of each year, commencing on December 5, 2023. The notes are redeemable at the applicable redemption price, subject to the terms described in the indenture for the notes. However, the notes (i) may not be redeemed at any time prior to June 5, 2026 without approval of the Bermuda Monetary Authority (the “BMA”) and (ii) may not be redeemed or repaid at any time if enhanced capital requirements, as established by the BMA, would be breached immediately before or after giving effect to the redemption or repayment of such notes, unless, in each case, RenaissanceRe replaces the capital represented by the notes to be redeemed or repaid with capital having equal or better capital treatment as the notes under applicable BMA rules. The notes contain various covenants including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries. The Company received net proceeds of approximately $ 741.0 million from the offering of senior notes after deducting the underwriting discounts and estimated offering expenses payable by the Company. The Company used the net proceeds from this offering to fund a portion of the cash consideration for the Validus Acquisition, which closed on November 1, 2023, to pay related costs and expenses, and for general corporate purposes. See “Note 3. Acquisition of Validus” for additional information regarding the Validus Acquisition. | text | 5.750 | percentItemType | text: <entity> 5.750 </entity> <entity type> percentItemType </entity type> <context> On June 5, 2023, the Company issued $ 750.0 million of its 5.750 % Senior Notes due June 5, 2033, with interest on the notes payable on June 5 and December 5 of each year, commencing on December 5, 2023. The notes are redeemable at the applicable redemption price, subject to the terms described in the indenture for the notes. However, the notes (i) may not be redeemed at any time prior to June 5, 2026 without approval of the Bermuda Monetary Authority (the “BMA”) and (ii) may not be redeemed or repaid at any time if enhanced capital requirements, as established by the BMA, would be breached immediately before or after giving effect to the redemption or repayment of such notes, unless, in each case, RenaissanceRe replaces the capital represented by the notes to be redeemed or repaid with capital having equal or better capital treatment as the notes under applicable BMA rules. The notes contain various covenants including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries. The Company received net proceeds of approximately $ 741.0 million from the offering of senior notes after deducting the underwriting discounts and estimated offering expenses payable by the Company. The Company used the net proceeds from this offering to fund a portion of the cash consideration for the Validus Acquisition, which closed on November 1, 2023, to pay related costs and expenses, and for general corporate purposes. See “Note 3. Acquisition of Validus” for additional information regarding the Validus Acquisition. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On June 5, 2023, the Company issued $ 750.0 million of its 5.750 % Senior Notes due June 5, 2033, with interest on the notes payable on June 5 and December 5 of each year, commencing on December 5, 2023. The notes are redeemable at the applicable redemption price, subject to the terms described in the indenture for the notes. However, the notes (i) may not be redeemed at any time prior to June 5, 2026 without approval of the Bermuda Monetary Authority (the “BMA”) and (ii) may not be redeemed or repaid at any time if enhanced capital requirements, as established by the BMA, would be breached immediately before or after giving effect to the redemption or repayment of such notes, unless, in each case, RenaissanceRe replaces the capital represented by the notes to be redeemed or repaid with capital having equal or better capital treatment as the notes under applicable BMA rules. The notes contain various covenants including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries. The Company received net proceeds of approximately $ 741.0 million from the offering of senior notes after deducting the underwriting discounts and estimated offering expenses payable by the Company. The Company used the net proceeds from this offering to fund a portion of the cash consideration for the Validus Acquisition, which closed on November 1, 2023, to pay related costs and expenses, and for general corporate purposes. See “Note 3. Acquisition of Validus” for additional information regarding the Validus Acquisition. | text | 741.0 | monetaryItemType | text: <entity> 741.0 </entity> <entity type> monetaryItemType </entity type> <context> On June 5, 2023, the Company issued $ 750.0 million of its 5.750 % Senior Notes due June 5, 2033, with interest on the notes payable on June 5 and December 5 of each year, commencing on December 5, 2023. The notes are redeemable at the applicable redemption price, subject to the terms described in the indenture for the notes. However, the notes (i) may not be redeemed at any time prior to June 5, 2026 without approval of the Bermuda Monetary Authority (the “BMA”) and (ii) may not be redeemed or repaid at any time if enhanced capital requirements, as established by the BMA, would be breached immediately before or after giving effect to the redemption or repayment of such notes, unless, in each case, RenaissanceRe replaces the capital represented by the notes to be redeemed or repaid with capital having equal or better capital treatment as the notes under applicable BMA rules. The notes contain various covenants including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries. The Company received net proceeds of approximately $ 741.0 million from the offering of senior notes after deducting the underwriting discounts and estimated offering expenses payable by the Company. The Company used the net proceeds from this offering to fund a portion of the cash consideration for the Validus Acquisition, which closed on November 1, 2023, to pay related costs and expenses, and for general corporate purposes. See “Note 3. Acquisition of Validus” for additional information regarding the Validus Acquisition. </context> | us-gaap:ProceedsFromIssuanceOfDebt |
3.600 % Senior Notes Due 2029 | text | 3.600 | percentItemType | text: <entity> 3.600 </entity> <entity type> percentItemType </entity type> <context> 3.600 % Senior Notes Due 2029 </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On April 2, 2019, RenaissanceRe issued $ 400.0 million principal amount of its 3.600 % Senior Notes due April 15, 2029, with interest on the notes payable on April 15 and October 15 of each year, commencing on October 15, 2019. The notes are redeemable at the applicable redemption price, subject to the terms described in the indenture for the notes. However, the notes may not be redeemed at any time prior to their maturity if enhanced capital requirements, as established by the BMA, would be breached immediately before or after giving effect to the redemption of such notes, unless, in each case, RenaissanceRe replaces the capital represented by the notes to be redeemed with capital having equal or better capital treatment as the notes under applicable BMA rules. The notes contain various covenants including limitations on mergers | text | 400.0 | monetaryItemType | text: <entity> 400.0 </entity> <entity type> monetaryItemType </entity type> <context> On April 2, 2019, RenaissanceRe issued $ 400.0 million principal amount of its 3.600 % Senior Notes due April 15, 2029, with interest on the notes payable on April 15 and October 15 of each year, commencing on October 15, 2019. The notes are redeemable at the applicable redemption price, subject to the terms described in the indenture for the notes. However, the notes may not be redeemed at any time prior to their maturity if enhanced capital requirements, as established by the BMA, would be breached immediately before or after giving effect to the redemption of such notes, unless, in each case, RenaissanceRe replaces the capital represented by the notes to be redeemed with capital having equal or better capital treatment as the notes under applicable BMA rules. The notes contain various covenants including limitations on mergers </context> | us-gaap:DebtInstrumentFaceAmount |
On April 2, 2019, RenaissanceRe issued $ 400.0 million principal amount of its 3.600 % Senior Notes due April 15, 2029, with interest on the notes payable on April 15 and October 15 of each year, commencing on October 15, 2019. The notes are redeemable at the applicable redemption price, subject to the terms described in the indenture for the notes. However, the notes may not be redeemed at any time prior to their maturity if enhanced capital requirements, as established by the BMA, would be breached immediately before or after giving effect to the redemption of such notes, unless, in each case, RenaissanceRe replaces the capital represented by the notes to be redeemed with capital having equal or better capital treatment as the notes under applicable BMA rules. The notes contain various covenants including limitations on mergers | text | 3.600 | percentItemType | text: <entity> 3.600 </entity> <entity type> percentItemType </entity type> <context> On April 2, 2019, RenaissanceRe issued $ 400.0 million principal amount of its 3.600 % Senior Notes due April 15, 2029, with interest on the notes payable on April 15 and October 15 of each year, commencing on October 15, 2019. The notes are redeemable at the applicable redemption price, subject to the terms described in the indenture for the notes. However, the notes may not be redeemed at any time prior to their maturity if enhanced capital requirements, as established by the BMA, would be breached immediately before or after giving effect to the redemption of such notes, unless, in each case, RenaissanceRe replaces the capital represented by the notes to be redeemed with capital having equal or better capital treatment as the notes under applicable BMA rules. The notes contain various covenants including limitations on mergers </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
and consolidations, and restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries. The net proceeds from this offering were used to repay, in full, the $ 200.0 million outstanding under the Company’s revolving credit facility at March 31, 2019, which the Company used to partially fund the purchase price for the TMR Stock Purchase, and the remainder of the net proceeds was used for general corporate purposes. | text | 200.0 | monetaryItemType | text: <entity> 200.0 </entity> <entity type> monetaryItemType </entity type> <context> and consolidations, and restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries. The net proceeds from this offering were used to repay, in full, the $ 200.0 million outstanding under the Company’s revolving credit facility at March 31, 2019, which the Company used to partially fund the purchase price for the TMR Stock Purchase, and the remainder of the net proceeds was used for general corporate purposes. </context> | us-gaap:RepaymentsOfLongTermLinesOfCredit |
3.450 % Senior Notes due 2027 of RenaissanceRe Finance | text | 3.450 | percentItemType | text: <entity> 3.450 </entity> <entity type> percentItemType </entity type> <context> 3.450 % Senior Notes due 2027 of RenaissanceRe Finance </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On June 29, 2017, RenaissanceRe Finance Inc. (“RenaissanceRe Finance”) issued $ 300.0 million principal amount of its 3.450 % Senior Notes due July 1, 2027, with interest on the notes payable on July 1 and January 1 of each year. The notes are fully and unconditionally guaranteed by RenaissanceRe and may be redeemed by RenaissanceRe Finance prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed prior to April 1, 2027. The notes contain various covenants, including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, stock of designated subsidiaries. | text | 300.0 | monetaryItemType | text: <entity> 300.0 </entity> <entity type> monetaryItemType </entity type> <context> On June 29, 2017, RenaissanceRe Finance Inc. (“RenaissanceRe Finance”) issued $ 300.0 million principal amount of its 3.450 % Senior Notes due July 1, 2027, with interest on the notes payable on July 1 and January 1 of each year. The notes are fully and unconditionally guaranteed by RenaissanceRe and may be redeemed by RenaissanceRe Finance prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed prior to April 1, 2027. The notes contain various covenants, including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, stock of designated subsidiaries. </context> | us-gaap:DebtInstrumentFaceAmount |
On June 29, 2017, RenaissanceRe Finance Inc. (“RenaissanceRe Finance”) issued $ 300.0 million principal amount of its 3.450 % Senior Notes due July 1, 2027, with interest on the notes payable on July 1 and January 1 of each year. The notes are fully and unconditionally guaranteed by RenaissanceRe and may be redeemed by RenaissanceRe Finance prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed prior to April 1, 2027. The notes contain various covenants, including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, stock of designated subsidiaries. | text | 3.450 | percentItemType | text: <entity> 3.450 </entity> <entity type> percentItemType </entity type> <context> On June 29, 2017, RenaissanceRe Finance Inc. (“RenaissanceRe Finance”) issued $ 300.0 million principal amount of its 3.450 % Senior Notes due July 1, 2027, with interest on the notes payable on July 1 and January 1 of each year. The notes are fully and unconditionally guaranteed by RenaissanceRe and may be redeemed by RenaissanceRe Finance prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed prior to April 1, 2027. The notes contain various covenants, including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, stock of designated subsidiaries. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
3.700 % Senior Notes due 2025 of RenaissanceRe Finance | text | 3.700 | percentItemType | text: <entity> 3.700 </entity> <entity type> percentItemType </entity type> <context> 3.700 % Senior Notes due 2025 of RenaissanceRe Finance </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On March 24, 2015, RenaissanceRe Finance issued $ 300.0 million principal amount of its 3.700 % Senior Notes due April 1, 2025, with interest on the notes payable on April 1 and October 1 of each year. The notes are fully and unconditionally guaranteed by RenaissanceRe and may be redeemed by RenaissanceRe Finance prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed prior to January 1, 2025. The notes contain various covenants, including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, stock of designated subsidiaries. | text | 300.0 | monetaryItemType | text: <entity> 300.0 </entity> <entity type> monetaryItemType </entity type> <context> On March 24, 2015, RenaissanceRe Finance issued $ 300.0 million principal amount of its 3.700 % Senior Notes due April 1, 2025, with interest on the notes payable on April 1 and October 1 of each year. The notes are fully and unconditionally guaranteed by RenaissanceRe and may be redeemed by RenaissanceRe Finance prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed prior to January 1, 2025. The notes contain various covenants, including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, stock of designated subsidiaries. </context> | us-gaap:DebtInstrumentFaceAmount |
On March 24, 2015, RenaissanceRe Finance issued $ 300.0 million principal amount of its 3.700 % Senior Notes due April 1, 2025, with interest on the notes payable on April 1 and October 1 of each year. The notes are fully and unconditionally guaranteed by RenaissanceRe and may be redeemed by RenaissanceRe Finance prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed prior to January 1, 2025. The notes contain various covenants, including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, stock of designated subsidiaries. | text | 3.700 | percentItemType | text: <entity> 3.700 </entity> <entity type> percentItemType </entity type> <context> On March 24, 2015, RenaissanceRe Finance issued $ 300.0 million principal amount of its 3.700 % Senior Notes due April 1, 2025, with interest on the notes payable on April 1 and October 1 of each year. The notes are fully and unconditionally guaranteed by RenaissanceRe and may be redeemed by RenaissanceRe Finance prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed prior to January 1, 2025. The notes contain various covenants, including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, stock of designated subsidiaries. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
The net proceeds from the offering of the notes (together with cash on hand) were applied by RenaissanceRe to repay in full a $ 300.0 million bridge loan that Barclays Bank PLC provided to RenaissanceRe on February 25, 2015 in order to finance a portion of the cash consideration paid by RenaissanceRe in connection with the acquisition of Platinum. | text | 300.0 | monetaryItemType | text: <entity> 300.0 </entity> <entity type> monetaryItemType </entity type> <context> The net proceeds from the offering of the notes (together with cash on hand) were applied by RenaissanceRe to repay in full a $ 300.0 million bridge loan that Barclays Bank PLC provided to RenaissanceRe on February 25, 2015 in order to finance a portion of the cash consideration paid by RenaissanceRe in connection with the acquisition of Platinum. </context> | us-gaap:ShortTermBorrowings |
On May 4, 2015, DaVinciRe Holdings Ltd. (“DaVinci”) issued $ 150.0 million principal amount of its 4.750 % Senior Notes due May 1, 2025, with interest on the notes payable on May 1 and November 1, commencing with November 1, 2015 (the “DaVinci Senior Notes”). The DaVinci Senior Notes, which are senior obligations, may be redeemed prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed before February 1, 2025. The DaVinci Senior Notes contain various covenants including restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries, limitations on mergers, amalgamations and consolidations, limitations on third-party investor redemptions, a leverage covenant and a covenant to maintain certain ratings. The net proceeds from this offering were used to repay, in full, $ 100.0 million outstanding under the loan agreement, dated as of March 30, 2011, between DaVinci and RenaissanceRe, and the remainder of the net proceeds were used for general corporate purposes. | text | 150.0 | monetaryItemType | text: <entity> 150.0 </entity> <entity type> monetaryItemType </entity type> <context> On May 4, 2015, DaVinciRe Holdings Ltd. (“DaVinci”) issued $ 150.0 million principal amount of its 4.750 % Senior Notes due May 1, 2025, with interest on the notes payable on May 1 and November 1, commencing with November 1, 2015 (the “DaVinci Senior Notes”). The DaVinci Senior Notes, which are senior obligations, may be redeemed prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed before February 1, 2025. The DaVinci Senior Notes contain various covenants including restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries, limitations on mergers, amalgamations and consolidations, limitations on third-party investor redemptions, a leverage covenant and a covenant to maintain certain ratings. The net proceeds from this offering were used to repay, in full, $ 100.0 million outstanding under the loan agreement, dated as of March 30, 2011, between DaVinci and RenaissanceRe, and the remainder of the net proceeds were used for general corporate purposes. </context> | us-gaap:DebtInstrumentFaceAmount |
On May 4, 2015, DaVinciRe Holdings Ltd. (“DaVinci”) issued $ 150.0 million principal amount of its 4.750 % Senior Notes due May 1, 2025, with interest on the notes payable on May 1 and November 1, commencing with November 1, 2015 (the “DaVinci Senior Notes”). The DaVinci Senior Notes, which are senior obligations, may be redeemed prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed before February 1, 2025. The DaVinci Senior Notes contain various covenants including restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries, limitations on mergers, amalgamations and consolidations, limitations on third-party investor redemptions, a leverage covenant and a covenant to maintain certain ratings. The net proceeds from this offering were used to repay, in full, $ 100.0 million outstanding under the loan agreement, dated as of March 30, 2011, between DaVinci and RenaissanceRe, and the remainder of the net proceeds were used for general corporate purposes. | text | 4.750 | percentItemType | text: <entity> 4.750 </entity> <entity type> percentItemType </entity type> <context> On May 4, 2015, DaVinciRe Holdings Ltd. (“DaVinci”) issued $ 150.0 million principal amount of its 4.750 % Senior Notes due May 1, 2025, with interest on the notes payable on May 1 and November 1, commencing with November 1, 2015 (the “DaVinci Senior Notes”). The DaVinci Senior Notes, which are senior obligations, may be redeemed prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed before February 1, 2025. The DaVinci Senior Notes contain various covenants including restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries, limitations on mergers, amalgamations and consolidations, limitations on third-party investor redemptions, a leverage covenant and a covenant to maintain certain ratings. The net proceeds from this offering were used to repay, in full, $ 100.0 million outstanding under the loan agreement, dated as of March 30, 2011, between DaVinci and RenaissanceRe, and the remainder of the net proceeds were used for general corporate purposes. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
On May 4, 2015, DaVinciRe Holdings Ltd. (“DaVinci”) issued $ 150.0 million principal amount of its 4.750 % Senior Notes due May 1, 2025, with interest on the notes payable on May 1 and November 1, commencing with November 1, 2015 (the “DaVinci Senior Notes”). The DaVinci Senior Notes, which are senior obligations, may be redeemed prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed before February 1, 2025. The DaVinci Senior Notes contain various covenants including restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries, limitations on mergers, amalgamations and consolidations, limitations on third-party investor redemptions, a leverage covenant and a covenant to maintain certain ratings. The net proceeds from this offering were used to repay, in full, $ 100.0 million outstanding under the loan agreement, dated as of March 30, 2011, between DaVinci and RenaissanceRe, and the remainder of the net proceeds were used for general corporate purposes. | text | 100.0 | monetaryItemType | text: <entity> 100.0 </entity> <entity type> monetaryItemType </entity type> <context> On May 4, 2015, DaVinciRe Holdings Ltd. (“DaVinci”) issued $ 150.0 million principal amount of its 4.750 % Senior Notes due May 1, 2025, with interest on the notes payable on May 1 and November 1, commencing with November 1, 2015 (the “DaVinci Senior Notes”). The DaVinci Senior Notes, which are senior obligations, may be redeemed prior to maturity, subject to the payment of a “make-whole” premium if the notes are redeemed before February 1, 2025. The DaVinci Senior Notes contain various covenants including restrictions as to the disposition of, and the placing of liens on, the stock of designated subsidiaries, limitations on mergers, amalgamations and consolidations, limitations on third-party investor redemptions, a leverage covenant and a covenant to maintain certain ratings. The net proceeds from this offering were used to repay, in full, $ 100.0 million outstanding under the loan agreement, dated as of March 30, 2011, between DaVinci and RenaissanceRe, and the remainder of the net proceeds were used for general corporate purposes. </context> | us-gaap:LoansAndLeasesReceivableRelatedParties |
RenaissanceRe, Renaissance Reinsurance Ltd. (“Renaissance Reinsurance”), RenaissanceRe Specialty U.S. Ltd. (“RenaissanceRe Specialty U.S.”), Renaissance Reinsurance U.S. Inc. (“Renaissance Reinsurance U.S.”) and RenaissanceRe Europe AG (“RREAG”) are parties to a third amended and restated credit agreement dated November 18, 2022 (the “Revolving Credit Agreement”) with various banks, financial institutions and Wells Fargo Bank, National Association (“Wells Fargo”) as administrative agent, which amended and restated a previous credit agreement. The Revolving Credit Agreement provides for a revolving commitment to RenaissanceRe of $ 500.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 700.0 million. Amounts borrowed under the Revolving Credit Agreement bear interest at a rate selected by RenaissanceRe equal to the Base Rate or Term SOFR (each as defined in the Revolving Credit Agreement) plus a margin. In addition to revolving loans, the Revolving Credit Agreement provides that the entire facility will also be available for the issuance of standby letters of credit, subject to the terms and conditions set forth therein, and swingline loans, which are capped at $ 50.0 million for each of the swingline lenders. At December 31, 2024, RenaissanceRe had $ Nil outstanding under the Revolving Credit Agreement. | text | 500.0 | monetaryItemType | text: <entity> 500.0 </entity> <entity type> monetaryItemType </entity type> <context> RenaissanceRe, Renaissance Reinsurance Ltd. (“Renaissance Reinsurance”), RenaissanceRe Specialty U.S. Ltd. (“RenaissanceRe Specialty U.S.”), Renaissance Reinsurance U.S. Inc. (“Renaissance Reinsurance U.S.”) and RenaissanceRe Europe AG (“RREAG”) are parties to a third amended and restated credit agreement dated November 18, 2022 (the “Revolving Credit Agreement”) with various banks, financial institutions and Wells Fargo Bank, National Association (“Wells Fargo”) as administrative agent, which amended and restated a previous credit agreement. The Revolving Credit Agreement provides for a revolving commitment to RenaissanceRe of $ 500.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 700.0 million. Amounts borrowed under the Revolving Credit Agreement bear interest at a rate selected by RenaissanceRe equal to the Base Rate or Term SOFR (each as defined in the Revolving Credit Agreement) plus a margin. In addition to revolving loans, the Revolving Credit Agreement provides that the entire facility will also be available for the issuance of standby letters of credit, subject to the terms and conditions set forth therein, and swingline loans, which are capped at $ 50.0 million for each of the swingline lenders. At December 31, 2024, RenaissanceRe had $ Nil outstanding under the Revolving Credit Agreement. </context> | us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity |
RenaissanceRe, Renaissance Reinsurance Ltd. (“Renaissance Reinsurance”), RenaissanceRe Specialty U.S. Ltd. (“RenaissanceRe Specialty U.S.”), Renaissance Reinsurance U.S. Inc. (“Renaissance Reinsurance U.S.”) and RenaissanceRe Europe AG (“RREAG”) are parties to a third amended and restated credit agreement dated November 18, 2022 (the “Revolving Credit Agreement”) with various banks, financial institutions and Wells Fargo Bank, National Association (“Wells Fargo”) as administrative agent, which amended and restated a previous credit agreement. The Revolving Credit Agreement provides for a revolving commitment to RenaissanceRe of $ 500.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 700.0 million. Amounts borrowed under the Revolving Credit Agreement bear interest at a rate selected by RenaissanceRe equal to the Base Rate or Term SOFR (each as defined in the Revolving Credit Agreement) plus a margin. In addition to revolving loans, the Revolving Credit Agreement provides that the entire facility will also be available for the issuance of standby letters of credit, subject to the terms and conditions set forth therein, and swingline loans, which are capped at $ 50.0 million for each of the swingline lenders. At December 31, 2024, RenaissanceRe had $ Nil outstanding under the Revolving Credit Agreement. | text | 700.0 | monetaryItemType | text: <entity> 700.0 </entity> <entity type> monetaryItemType </entity type> <context> RenaissanceRe, Renaissance Reinsurance Ltd. (“Renaissance Reinsurance”), RenaissanceRe Specialty U.S. Ltd. (“RenaissanceRe Specialty U.S.”), Renaissance Reinsurance U.S. Inc. (“Renaissance Reinsurance U.S.”) and RenaissanceRe Europe AG (“RREAG”) are parties to a third amended and restated credit agreement dated November 18, 2022 (the “Revolving Credit Agreement”) with various banks, financial institutions and Wells Fargo Bank, National Association (“Wells Fargo”) as administrative agent, which amended and restated a previous credit agreement. The Revolving Credit Agreement provides for a revolving commitment to RenaissanceRe of $ 500.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 700.0 million. Amounts borrowed under the Revolving Credit Agreement bear interest at a rate selected by RenaissanceRe equal to the Base Rate or Term SOFR (each as defined in the Revolving Credit Agreement) plus a margin. In addition to revolving loans, the Revolving Credit Agreement provides that the entire facility will also be available for the issuance of standby letters of credit, subject to the terms and conditions set forth therein, and swingline loans, which are capped at $ 50.0 million for each of the swingline lenders. At December 31, 2024, RenaissanceRe had $ Nil outstanding under the Revolving Credit Agreement. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
RenaissanceRe, Renaissance Reinsurance Ltd. (“Renaissance Reinsurance”), RenaissanceRe Specialty U.S. Ltd. (“RenaissanceRe Specialty U.S.”), Renaissance Reinsurance U.S. Inc. (“Renaissance Reinsurance U.S.”) and RenaissanceRe Europe AG (“RREAG”) are parties to a third amended and restated credit agreement dated November 18, 2022 (the “Revolving Credit Agreement”) with various banks, financial institutions and Wells Fargo Bank, National Association (“Wells Fargo”) as administrative agent, which amended and restated a previous credit agreement. The Revolving Credit Agreement provides for a revolving commitment to RenaissanceRe of $ 500.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 700.0 million. Amounts borrowed under the Revolving Credit Agreement bear interest at a rate selected by RenaissanceRe equal to the Base Rate or Term SOFR (each as defined in the Revolving Credit Agreement) plus a margin. In addition to revolving loans, the Revolving Credit Agreement provides that the entire facility will also be available for the issuance of standby letters of credit, subject to the terms and conditions set forth therein, and swingline loans, which are capped at $ 50.0 million for each of the swingline lenders. At December 31, 2024, RenaissanceRe had $ Nil outstanding under the Revolving Credit Agreement. | text | 50.0 | monetaryItemType | text: <entity> 50.0 </entity> <entity type> monetaryItemType </entity type> <context> RenaissanceRe, Renaissance Reinsurance Ltd. (“Renaissance Reinsurance”), RenaissanceRe Specialty U.S. Ltd. (“RenaissanceRe Specialty U.S.”), Renaissance Reinsurance U.S. Inc. (“Renaissance Reinsurance U.S.”) and RenaissanceRe Europe AG (“RREAG”) are parties to a third amended and restated credit agreement dated November 18, 2022 (the “Revolving Credit Agreement”) with various banks, financial institutions and Wells Fargo Bank, National Association (“Wells Fargo”) as administrative agent, which amended and restated a previous credit agreement. The Revolving Credit Agreement provides for a revolving commitment to RenaissanceRe of $ 500.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 700.0 million. Amounts borrowed under the Revolving Credit Agreement bear interest at a rate selected by RenaissanceRe equal to the Base Rate or Term SOFR (each as defined in the Revolving Credit Agreement) plus a margin. In addition to revolving loans, the Revolving Credit Agreement provides that the entire facility will also be available for the issuance of standby letters of credit, subject to the terms and conditions set forth therein, and swingline loans, which are capped at $ 50.0 million for each of the swingline lenders. At December 31, 2024, RenaissanceRe had $ Nil outstanding under the Revolving Credit Agreement. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
RenaissanceRe, Renaissance Reinsurance Ltd. (“Renaissance Reinsurance”), RenaissanceRe Specialty U.S. Ltd. (“RenaissanceRe Specialty U.S.”), Renaissance Reinsurance U.S. Inc. (“Renaissance Reinsurance U.S.”) and RenaissanceRe Europe AG (“RREAG”) are parties to a third amended and restated credit agreement dated November 18, 2022 (the “Revolving Credit Agreement”) with various banks, financial institutions and Wells Fargo Bank, National Association (“Wells Fargo”) as administrative agent, which amended and restated a previous credit agreement. The Revolving Credit Agreement provides for a revolving commitment to RenaissanceRe of $ 500.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 700.0 million. Amounts borrowed under the Revolving Credit Agreement bear interest at a rate selected by RenaissanceRe equal to the Base Rate or Term SOFR (each as defined in the Revolving Credit Agreement) plus a margin. In addition to revolving loans, the Revolving Credit Agreement provides that the entire facility will also be available for the issuance of standby letters of credit, subject to the terms and conditions set forth therein, and swingline loans, which are capped at $ 50.0 million for each of the swingline lenders. At December 31, 2024, RenaissanceRe had $ Nil outstanding under the Revolving Credit Agreement. | text | Nil | monetaryItemType | text: <entity> Nil </entity> <entity type> monetaryItemType </entity type> <context> RenaissanceRe, Renaissance Reinsurance Ltd. (“Renaissance Reinsurance”), RenaissanceRe Specialty U.S. Ltd. (“RenaissanceRe Specialty U.S.”), Renaissance Reinsurance U.S. Inc. (“Renaissance Reinsurance U.S.”) and RenaissanceRe Europe AG (“RREAG”) are parties to a third amended and restated credit agreement dated November 18, 2022 (the “Revolving Credit Agreement”) with various banks, financial institutions and Wells Fargo Bank, National Association (“Wells Fargo”) as administrative agent, which amended and restated a previous credit agreement. The Revolving Credit Agreement provides for a revolving commitment to RenaissanceRe of $ 500.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 700.0 million. Amounts borrowed under the Revolving Credit Agreement bear interest at a rate selected by RenaissanceRe equal to the Base Rate or Term SOFR (each as defined in the Revolving Credit Agreement) plus a margin. In addition to revolving loans, the Revolving Credit Agreement provides that the entire facility will also be available for the issuance of standby letters of credit, subject to the terms and conditions set forth therein, and swingline loans, which are capped at $ 50.0 million for each of the swingline lenders. At December 31, 2024, RenaissanceRe had $ Nil outstanding under the Revolving Credit Agreement. </context> | us-gaap:LineOfCredit |
The Revolving Credit Agreement contains representations, warranties and covenants customary for bank loan facilities of this type, including limits on the ability of RenaissanceRe and its subsidiaries to merge, consolidate, sell a substantial amount of assets, incur liens and declare or pay dividends under certain circumstances. The Revolving Credit Agreement also contains certain financial covenants which generally provide that the ratio of consolidated debt to capital shall not exceed 0.35 :1 and that the consolidated net worth of RenaissanceRe shall equal or exceed approximately $ 4.0 billion, subject to an annual adjustment. | text | 4.0 | monetaryItemType | text: <entity> 4.0 </entity> <entity type> monetaryItemType </entity type> <context> The Revolving Credit Agreement contains representations, warranties and covenants customary for bank loan facilities of this type, including limits on the ability of RenaissanceRe and its subsidiaries to merge, consolidate, sell a substantial amount of assets, incur liens and declare or pay dividends under certain circumstances. The Revolving Credit Agreement also contains certain financial covenants which generally provide that the ratio of consolidated debt to capital shall not exceed 0.35 :1 and that the consolidated net worth of RenaissanceRe shall equal or exceed approximately $ 4.0 billion, subject to an annual adjustment. </context> | us-gaap:MinimumNetWorthRequiredForCompliance |
2019, as amended, with Wells Fargo, which provides for a secured, uncommitted facility under which letters of credit may be issued from time to time for the respective accounts of the subsidiaries. Pursuant to the agreement, the applicants may request secured letter of credit issuances up to an aggregate amount of $ 200.0 million. RenaissanceRe has unconditionally guaranteed the payment obligations of the applicants other than DaVinci Reinsurance. | text | 200.0 | monetaryItemType | text: <entity> 200.0 </entity> <entity type> monetaryItemType </entity type> <context> 2019, as amended, with Wells Fargo, which provides for a secured, uncommitted facility under which letters of credit may be issued from time to time for the respective accounts of the subsidiaries. Pursuant to the agreement, the applicants may request secured letter of credit issuances up to an aggregate amount of $ 200.0 million. RenaissanceRe has unconditionally guaranteed the payment obligations of the applicants other than DaVinci Reinsurance. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
At December 31, 2024, there were $ 20.1 million of secured letters of credit outstanding and $ Nil of unsecured letters of credit outstanding under this agreement. | text | 20.1 | monetaryItemType | text: <entity> 20.1 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, there were $ 20.1 million of secured letters of credit outstanding and $ Nil of unsecured letters of credit outstanding under this agreement. </context> | us-gaap:LineOfCredit |
At December 31, 2024, there were $ 20.1 million of secured letters of credit outstanding and $ Nil of unsecured letters of credit outstanding under this agreement. | text | Nil | monetaryItemType | text: <entity> Nil </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, there were $ 20.1 million of secured letters of credit outstanding and $ Nil of unsecured letters of credit outstanding under this agreement. </context> | us-gaap:LineOfCredit |
Certain subsidiaries and affiliates of RenaissanceRe, including Renaissance Reinsurance, DaVinci Reinsurance, Renaissance Reinsurance of Europe Designated Activity Company (“Renaissance Reinsurance of Europe DAC”) and RenaissanceRe Specialty U.S., are parties to a facility letter, dated December 19, 2022, as amended, with Citibank Europe plc (“Citibank Europe”), pursuant to which Citibank Europe has established a letter of credit facility under which Citibank Europe provides a commitment to issue letters of credit for the accounts of the participants in multiple currencies. On November 1, 2023, the aggregate committed amount of the facility was increased from $ 180.0 million to $ 320.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 350.0 million. | text | 180.0 | monetaryItemType | text: <entity> 180.0 </entity> <entity type> monetaryItemType </entity type> <context> Certain subsidiaries and affiliates of RenaissanceRe, including Renaissance Reinsurance, DaVinci Reinsurance, Renaissance Reinsurance of Europe Designated Activity Company (“Renaissance Reinsurance of Europe DAC”) and RenaissanceRe Specialty U.S., are parties to a facility letter, dated December 19, 2022, as amended, with Citibank Europe plc (“Citibank Europe”), pursuant to which Citibank Europe has established a letter of credit facility under which Citibank Europe provides a commitment to issue letters of credit for the accounts of the participants in multiple currencies. On November 1, 2023, the aggregate committed amount of the facility was increased from $ 180.0 million to $ 320.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 350.0 million. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
Certain subsidiaries and affiliates of RenaissanceRe, including Renaissance Reinsurance, DaVinci Reinsurance, Renaissance Reinsurance of Europe Designated Activity Company (“Renaissance Reinsurance of Europe DAC”) and RenaissanceRe Specialty U.S., are parties to a facility letter, dated December 19, 2022, as amended, with Citibank Europe plc (“Citibank Europe”), pursuant to which Citibank Europe has established a letter of credit facility under which Citibank Europe provides a commitment to issue letters of credit for the accounts of the participants in multiple currencies. On November 1, 2023, the aggregate committed amount of the facility was increased from $ 180.0 million to $ 320.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 350.0 million. | text | 320.0 | monetaryItemType | text: <entity> 320.0 </entity> <entity type> monetaryItemType </entity type> <context> Certain subsidiaries and affiliates of RenaissanceRe, including Renaissance Reinsurance, DaVinci Reinsurance, Renaissance Reinsurance of Europe Designated Activity Company (“Renaissance Reinsurance of Europe DAC”) and RenaissanceRe Specialty U.S., are parties to a facility letter, dated December 19, 2022, as amended, with Citibank Europe plc (“Citibank Europe”), pursuant to which Citibank Europe has established a letter of credit facility under which Citibank Europe provides a commitment to issue letters of credit for the accounts of the participants in multiple currencies. On November 1, 2023, the aggregate committed amount of the facility was increased from $ 180.0 million to $ 320.0 million, with a right, subject to satisfying certain conditions, to increase the size of the facility to $ 350.0 million. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
At December 31, 2024, $ 232.6 million aggregate face amount of letters of credit was outstanding and $ 87.4 million remained unused and available to the participants under this facility. | text | 232.6 | monetaryItemType | text: <entity> 232.6 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, $ 232.6 million aggregate face amount of letters of credit was outstanding and $ 87.4 million remained unused and available to the participants under this facility. </context> | us-gaap:LineOfCredit |
At December 31, 2024, $ 232.6 million aggregate face amount of letters of credit was outstanding and $ 87.4 million remained unused and available to the participants under this facility. | text | 87.4 | monetaryItemType | text: <entity> 87.4 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, $ 232.6 million aggregate face amount of letters of credit was outstanding and $ 87.4 million remained unused and available to the participants under this facility. </context> | us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity |
At December 31, 2024, the aggregate face amount of the payment instruments issued and outstanding under this facility was $ 293.0 million. | text | 293.0 | monetaryItemType | text: <entity> 293.0 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the aggregate face amount of the payment instruments issued and outstanding under this facility was $ 293.0 million. </context> | us-gaap:LineOfCredit |
RREAG, Renaissance Reinsurance and RenaissanceRe were parties to a letter of credit facility agreement with Credit Suisse (Switzerland) Ltd. (“Credit Suisse”) dated December 16, 2021, as amended, and which provided for a $ 200.0 million committed, unsecured letter of credit facility pursuant to which Credit Suisse (or any other fronting bank acting on behalf of Credit Suisse) may issue letters of credit or similar instruments in multiple currencies for the account of RREAG or Renaissance Reinsurance. The obligations of RREAG and Renaissance Reinsurance under the agreement were guaranteed by RenaissanceRe. The facility was allowed to expire in accordance with its terms on December 31, 2024. | text | 200.0 | monetaryItemType | text: <entity> 200.0 </entity> <entity type> monetaryItemType </entity type> <context> RREAG, Renaissance Reinsurance and RenaissanceRe were parties to a letter of credit facility agreement with Credit Suisse (Switzerland) Ltd. (“Credit Suisse”) dated December 16, 2021, as amended, and which provided for a $ 200.0 million committed, unsecured letter of credit facility pursuant to which Credit Suisse (or any other fronting bank acting on behalf of Credit Suisse) may issue letters of credit or similar instruments in multiple currencies for the account of RREAG or Renaissance Reinsurance. The obligations of RREAG and Renaissance Reinsurance under the agreement were guaranteed by RenaissanceRe. The facility was allowed to expire in accordance with its terms on December 31, 2024. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
At December 31, 2024, letters of credit issued by Credit Suisse under the agreement were outstanding in the face amount of $ 19.1 million. | text | 19.1 | monetaryItemType | text: <entity> 19.1 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, letters of credit issued by Credit Suisse under the agreement were outstanding in the face amount of $ 19.1 million. </context> | us-gaap:LineOfCredit |
RREAG, Renaissance Reinsurance and RenaissanceRe are parties to a standby letter of credit agreement with Nordea Bank Abp, New York Branch (“Nordea”) dated October 3, 2024 which provides for an uncommitted, unsecured facility pursuant to which Nordea may issue standby letters of credit in multiple currencies for the accounts of RREAG and Renaissance Reinsurance. Pursuant to the agreement, RREAG and Renaissance Reinsurance may request letters of credit up to an aggregate amount of $ 250.0 million. The obligations of RREAG and Renaissance Reinsurance under the agreement are guaranteed by RenaissanceRe. | text | 250.0 | monetaryItemType | text: <entity> 250.0 </entity> <entity type> monetaryItemType </entity type> <context> RREAG, Renaissance Reinsurance and RenaissanceRe are parties to a standby letter of credit agreement with Nordea Bank Abp, New York Branch (“Nordea”) dated October 3, 2024 which provides for an uncommitted, unsecured facility pursuant to which Nordea may issue standby letters of credit in multiple currencies for the accounts of RREAG and Renaissance Reinsurance. Pursuant to the agreement, RREAG and Renaissance Reinsurance may request letters of credit up to an aggregate amount of $ 250.0 million. The obligations of RREAG and Renaissance Reinsurance under the agreement are guaranteed by RenaissanceRe. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
At December 31, 2024, letters of credit issued by Nordea under the agreement were outstanding in the face amount of $ 45.3 million. | text | 45.3 | monetaryItemType | text: <entity> 45.3 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, letters of credit issued by Nordea under the agreement were outstanding in the face amount of $ 45.3 million. </context> | us-gaap:LineOfCredit |
Renaissance Reinsurance is party to a letter of credit reimbursement agreement with Société Générale, New York Branch (“SocGen”), dated September 8, 2022, which provides for a $ 250.0 million uncommitted letter of credit facility under which Renaissance Reinsurance may request either secured or unsecured letters of credit in multiple currencies for the account of Renaissance Reinsurance, subject to secured letters of credit comprising at least 40 % of the maximum aggregate amount. | text | 250.0 | monetaryItemType | text: <entity> 250.0 </entity> <entity type> monetaryItemType </entity type> <context> Renaissance Reinsurance is party to a letter of credit reimbursement agreement with Société Générale, New York Branch (“SocGen”), dated September 8, 2022, which provides for a $ 250.0 million uncommitted letter of credit facility under which Renaissance Reinsurance may request either secured or unsecured letters of credit in multiple currencies for the account of Renaissance Reinsurance, subject to secured letters of credit comprising at least 40 % of the maximum aggregate amount. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
At December 31, 2024, the aggregate face amount of letters of credit outstanding under this facility was $ 9.4 million. | text | 9.4 | monetaryItemType | text: <entity> 9.4 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the aggregate face amount of letters of credit outstanding under this facility was $ 9.4 million. </context> | us-gaap:LineOfCredit |
RenaissanceRe Medici Fund Ltd. (“Medici”) and RenaissanceRe Fund Management Ltd. (“RFM”) are parties to a revolving credit facility, as amended, pursuant to which National Australia Bank Limited provides for a revolving commitment to Medici of $ 75.0 million. The obligations of Medici and RFM under this facility are not guaranteed by RenaissanceRe. | text | 75.0 | monetaryItemType | text: <entity> 75.0 </entity> <entity type> monetaryItemType </entity type> <context> RenaissanceRe Medici Fund Ltd. (“Medici”) and RenaissanceRe Fund Management Ltd. (“RFM”) are parties to a revolving credit facility, as amended, pursuant to which National Australia Bank Limited provides for a revolving commitment to Medici of $ 75.0 million. The obligations of Medici and RFM under this facility are not guaranteed by RenaissanceRe. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
At December 31, 2024, the face amount of the outstanding revolving credit facility was $ Nil . | text | Nil | monetaryItemType | text: <entity> Nil </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the face amount of the outstanding revolving credit facility was $ Nil . </context> | us-gaap:LineOfCredit |
Renaissance Reinsurance is party to a collateralized letter of credit and reimbursement agreement in the amount of $ 37.5 million that supports the Company’s Top Layer joint venture. Renaissance Reinsurance is obligated to make a mandatory capital contribution of up to $ 50.0 million in the event that a loss reduces Top Layer’s capital below a specified level. | text | 37.5 | monetaryItemType | text: <entity> 37.5 </entity> <entity type> monetaryItemType </entity type> <context> Renaissance Reinsurance is party to a collateralized letter of credit and reimbursement agreement in the amount of $ 37.5 million that supports the Company’s Top Layer joint venture. Renaissance Reinsurance is obligated to make a mandatory capital contribution of up to $ 50.0 million in the event that a loss reduces Top Layer’s capital below a specified level. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
Renaissance Reinsurance is party to a collateralized letter of credit and reimbursement agreement in the amount of $ 37.5 million that supports the Company’s Top Layer joint venture. Renaissance Reinsurance is obligated to make a mandatory capital contribution of up to $ 50.0 million in the event that a loss reduces Top Layer’s capital below a specified level. | text | 50.0 | monetaryItemType | text: <entity> 50.0 </entity> <entity type> monetaryItemType </entity type> <context> Renaissance Reinsurance is party to a collateralized letter of credit and reimbursement agreement in the amount of $ 37.5 million that supports the Company’s Top Layer joint venture. Renaissance Reinsurance is obligated to make a mandatory capital contribution of up to $ 50.0 million in the event that a loss reduces Top Layer’s capital below a specified level. </context> | us-gaap:LossContingencyEstimateOfPossibleLoss |
DaVinci is a managed joint venture formed by RenaissanceRe principally to write property catastrophe reinsurance and certain casualty and specialty reinsurance lines of business on a global basis through its wholly-owned subsidiary, DaVinci Reinsurance. RenaissanceRe owns a noncontrolling economic interest in DaVinci; however, because RenaissanceRe controls a majority of DaVinci’s outstanding voting rights, the Company consolidates DaVinci and all significant intercompany transactions have been eliminated. The portion of DaVinci’s earnings owned by third parties is recorded in the consolidated statements of operations as net income (loss) attributable to redeemable noncontrolling interests. The Company’s noncontrolling economic ownership in DaVinci was 25.4 % at December 31, 2024 (2023 - 27.8 %). | text | 25.4 | percentItemType | text: <entity> 25.4 </entity> <entity type> percentItemType </entity type> <context> DaVinci is a managed joint venture formed by RenaissanceRe principally to write property catastrophe reinsurance and certain casualty and specialty reinsurance lines of business on a global basis through its wholly-owned subsidiary, DaVinci Reinsurance. RenaissanceRe owns a noncontrolling economic interest in DaVinci; however, because RenaissanceRe controls a majority of DaVinci’s outstanding voting rights, the Company consolidates DaVinci and all significant intercompany transactions have been eliminated. The portion of DaVinci’s earnings owned by third parties is recorded in the consolidated statements of operations as net income (loss) attributable to redeemable noncontrolling interests. The Company’s noncontrolling economic ownership in DaVinci was 25.4 % at December 31, 2024 (2023 - 27.8 %). </context> | us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners |
DaVinci is a managed joint venture formed by RenaissanceRe principally to write property catastrophe reinsurance and certain casualty and specialty reinsurance lines of business on a global basis through its wholly-owned subsidiary, DaVinci Reinsurance. RenaissanceRe owns a noncontrolling economic interest in DaVinci; however, because RenaissanceRe controls a majority of DaVinci’s outstanding voting rights, the Company consolidates DaVinci and all significant intercompany transactions have been eliminated. The portion of DaVinci’s earnings owned by third parties is recorded in the consolidated statements of operations as net income (loss) attributable to redeemable noncontrolling interests. The Company’s noncontrolling economic ownership in DaVinci was 25.4 % at December 31, 2024 (2023 - 27.8 %). | text | 27.8 | percentItemType | text: <entity> 27.8 </entity> <entity type> percentItemType </entity type> <context> DaVinci is a managed joint venture formed by RenaissanceRe principally to write property catastrophe reinsurance and certain casualty and specialty reinsurance lines of business on a global basis through its wholly-owned subsidiary, DaVinci Reinsurance. RenaissanceRe owns a noncontrolling economic interest in DaVinci; however, because RenaissanceRe controls a majority of DaVinci’s outstanding voting rights, the Company consolidates DaVinci and all significant intercompany transactions have been eliminated. The portion of DaVinci’s earnings owned by third parties is recorded in the consolidated statements of operations as net income (loss) attributable to redeemable noncontrolling interests. The Company’s noncontrolling economic ownership in DaVinci was 25.4 % at December 31, 2024 (2023 - 27.8 %). </context> | us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners |
During 2024, RenaissanceRe sold an aggregate of $ 300.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 225.9 million of shares from other third-party investors. In addition, DaVinci distributed $ 180.6 million to third-party investors and $ 69.4 million to the Company. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 25.4 %. | text | 300.0 | monetaryItemType | text: <entity> 300.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, RenaissanceRe sold an aggregate of $ 300.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 225.9 million of shares from other third-party investors. In addition, DaVinci distributed $ 180.6 million to third-party investors and $ 69.4 million to the Company. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 25.4 %. </context> | us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance |
During 2024, RenaissanceRe sold an aggregate of $ 300.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 225.9 million of shares from other third-party investors. In addition, DaVinci distributed $ 180.6 million to third-party investors and $ 69.4 million to the Company. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 25.4 %. | text | 225.9 | monetaryItemType | text: <entity> 225.9 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, RenaissanceRe sold an aggregate of $ 300.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 225.9 million of shares from other third-party investors. In addition, DaVinci distributed $ 180.6 million to third-party investors and $ 69.4 million to the Company. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 25.4 %. </context> | us-gaap:MinorityInterestDecreaseFromRedemptions |
During 2024, RenaissanceRe sold an aggregate of $ 300.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 225.9 million of shares from other third-party investors. In addition, DaVinci distributed $ 180.6 million to third-party investors and $ 69.4 million to the Company. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 25.4 %. | text | 180.6 | monetaryItemType | text: <entity> 180.6 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, RenaissanceRe sold an aggregate of $ 300.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 225.9 million of shares from other third-party investors. In addition, DaVinci distributed $ 180.6 million to third-party investors and $ 69.4 million to the Company. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 25.4 %. </context> | us-gaap:PaymentsToMinorityShareholders |
During 2024, RenaissanceRe sold an aggregate of $ 300.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 225.9 million of shares from other third-party investors. In addition, DaVinci distributed $ 180.6 million to third-party investors and $ 69.4 million to the Company. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 25.4 %. | text | 69.4 | monetaryItemType | text: <entity> 69.4 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, RenaissanceRe sold an aggregate of $ 300.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 225.9 million of shares from other third-party investors. In addition, DaVinci distributed $ 180.6 million to third-party investors and $ 69.4 million to the Company. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 25.4 %. </context> | us-gaap:PaymentsToMinorityShareholders |
During 2024, RenaissanceRe sold an aggregate of $ 300.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 225.9 million of shares from other third-party investors. In addition, DaVinci distributed $ 180.6 million to third-party investors and $ 69.4 million to the Company. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 25.4 %. | text | 25.4 | percentItemType | text: <entity> 25.4 </entity> <entity type> percentItemType </entity type> <context> During 2024, RenaissanceRe sold an aggregate of $ 300.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 225.9 million of shares from other third-party investors. In addition, DaVinci distributed $ 180.6 million to third-party investors and $ 69.4 million to the Company. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 25.4 %. </context> | us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners |
The timing of cash flows associated with equity capital transactions can vary from one period to the next. During 2024, RenaissanceRe received cash inflows of $ 69.7 million from subscriptions of shares in DaVinci by third-party investors, and paid $ 225.9 million as a result of redemptions of shares from and distributions to third-party investors. | text | 69.7 | monetaryItemType | text: <entity> 69.7 </entity> <entity type> monetaryItemType </entity type> <context> The timing of cash flows associated with equity capital transactions can vary from one period to the next. During 2024, RenaissanceRe received cash inflows of $ 69.7 million from subscriptions of shares in DaVinci by third-party investors, and paid $ 225.9 million as a result of redemptions of shares from and distributions to third-party investors. </context> | us-gaap:ProceedsFromMinorityShareholders |
The timing of cash flows associated with equity capital transactions can vary from one period to the next. During 2024, RenaissanceRe received cash inflows of $ 69.7 million from subscriptions of shares in DaVinci by third-party investors, and paid $ 225.9 million as a result of redemptions of shares from and distributions to third-party investors. | text | 225.9 | monetaryItemType | text: <entity> 225.9 </entity> <entity type> monetaryItemType </entity type> <context> The timing of cash flows associated with equity capital transactions can vary from one period to the next. During 2024, RenaissanceRe received cash inflows of $ 69.7 million from subscriptions of shares in DaVinci by third-party investors, and paid $ 225.9 million as a result of redemptions of shares from and distributions to third-party investors. </context> | us-gaap:PaymentsToMinorityShareholders |
During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. | text | 250.0 | monetaryItemType | text: <entity> 250.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. </context> | us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance |
During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. | text | 102.2 | monetaryItemType | text: <entity> 102.2 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. </context> | us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance |
During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. | text | 147.8 | monetaryItemType | text: <entity> 147.8 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. </context> | us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance |
During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. | text | 275.0 | monetaryItemType | text: <entity> 275.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. </context> | us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance |
During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. | text | 123.3 | monetaryItemType | text: <entity> 123.3 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. </context> | us-gaap:MinorityInterestDecreaseFromRedemptions |
During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. | text | 27.8 | percentItemType | text: <entity> 27.8 </entity> <entity type> percentItemType </entity type> <context> During 2023, DaVinci completed an equity capital raise of $ 250.0 million, comprised of $ 102.2 million from third-party investors and $ 147.8 million from RenaissanceRe. In addition, RenaissanceRe sold an aggregate of $ 275.0 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 123.3 million of shares from other third-party investors. The Company’s noncontrolling economic ownership in DaVinci subsequent to these transactions was 27.8 %. </context> | us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners |
The timing of cash flows associated with equity capital transactions can vary from one period to the next. During 2023, RenaissanceRe received $ 300.0 million subscriptions of shares in DaVinci by third-party investors, and paid $ 123.3 million as a result of redemptions of shares from third-party investors. | text | 300.0 | monetaryItemType | text: <entity> 300.0 </entity> <entity type> monetaryItemType </entity type> <context> The timing of cash flows associated with equity capital transactions can vary from one period to the next. During 2023, RenaissanceRe received $ 300.0 million subscriptions of shares in DaVinci by third-party investors, and paid $ 123.3 million as a result of redemptions of shares from third-party investors. </context> | us-gaap:ProceedsFromMinorityShareholders |
The timing of cash flows associated with equity capital transactions can vary from one period to the next. During 2023, RenaissanceRe received $ 300.0 million subscriptions of shares in DaVinci by third-party investors, and paid $ 123.3 million as a result of redemptions of shares from third-party investors. | text | 123.3 | monetaryItemType | text: <entity> 123.3 </entity> <entity type> monetaryItemType </entity type> <context> The timing of cash flows associated with equity capital transactions can vary from one period to the next. During 2023, RenaissanceRe received $ 300.0 million subscriptions of shares in DaVinci by third-party investors, and paid $ 123.3 million as a result of redemptions of shares from third-party investors. </context> | us-gaap:PaymentsToMinorityShareholders |
During 2024, investors subscribed for $ 250.2 million, including $ 50.6 million from the Company. In addition, investors redeemed $ 382.0 million, of the participating, non-voting common shares of Medici, including $ 0.3 million from the Company. Third party investors also received $ 24.6 million in dividends. As a result of these transactions, the Company’s noncontrolling economic ownership in Medici was 15.8 % at December 31, 2024. | text | 250.2 | monetaryItemType | text: <entity> 250.2 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, investors subscribed for $ 250.2 million, including $ 50.6 million from the Company. In addition, investors redeemed $ 382.0 million, of the participating, non-voting common shares of Medici, including $ 0.3 million from the Company. Third party investors also received $ 24.6 million in dividends. As a result of these transactions, the Company’s noncontrolling economic ownership in Medici was 15.8 % at December 31, 2024. </context> | us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance |
During 2024, investors subscribed for $ 250.2 million, including $ 50.6 million from the Company. In addition, investors redeemed $ 382.0 million, of the participating, non-voting common shares of Medici, including $ 0.3 million from the Company. Third party investors also received $ 24.6 million in dividends. As a result of these transactions, the Company’s noncontrolling economic ownership in Medici was 15.8 % at December 31, 2024. | text | 50.6 | monetaryItemType | text: <entity> 50.6 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, investors subscribed for $ 250.2 million, including $ 50.6 million from the Company. In addition, investors redeemed $ 382.0 million, of the participating, non-voting common shares of Medici, including $ 0.3 million from the Company. Third party investors also received $ 24.6 million in dividends. As a result of these transactions, the Company’s noncontrolling economic ownership in Medici was 15.8 % at December 31, 2024. </context> | us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance |
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