Financial Supplement December 2021

RenaissanceRe Holdings Ltd.

Contents

Page

Basis of Presentation

i

Financial Highlights

1

Summary Consolidated Financial Statements

a. Consolidated Statements of Operations

2

b. Consolidated Balance Sheets

3

Underwriting and Reserves

a. Consolidated Segment Underwriting Results

5

b. Segment Underwriting Results

6

c. Property Segment - Catastrophe and Other Property Underwriting Results

7

d. Gross Premiums Written

8

e. Reserves for Claims and Claim Expenses

9

f. Paid to Incurred Analysis

10

Managed Joint Ventures and Fee Income

a. Fee Income

11

b. Noncontrolling Interests

12

c. DaVinciRe Holdings Ltd. and Subsidiary Consolidated Statements of Operations

13

Investments

a. Total Investment Result

14

b. Investment Portfolio - Composition

15

c. Investment Portfolio - Fixed Maturity Investments

16

d. Investment Portfolio - Weighted Average Yield to Maturity and Credit Rating

17

e. Retained Investment Information

18

Other Items

a. Earnings per Share

19

Comments on Regulation G

20

Three months ended

Twelve months ended

December 31,

September 30,

June 30,

March 31,

December 31,

December 31,

December 31,

2021

2021

2021

2021

2020

2021

2020

Highlights

Gross premiums written

$

1,313,018

$

1,774,180

$

2,094,158

$

2,652,442

$

935,514

$

7,833,798

$

5,806,165

Underwriting income (loss)

$

276,661

$

(678,825)

$

328,976

$

(35,760)

$

(151,655)

$

(108,948)

$

(76,511)

Net investment income

$

80,483

$

78,267

$

80,925

$

79,804

$

81,717

$

319,479

$

354,038

Net realized and unrealized gains (losses) on investments

(21,518)

(42,071)

191,018

(345,563)

258,745

(218,134)

820,636

Total investment result

$

58,965

$

36,196

$

271,943

$

(265,759)

$

340,462

$

101,345

$

1,174,674

Net income (loss) available (attributable) to RenaissanceRe

$

210,917

$

(450,222)

$

456,818

$

(290,934)

$

189,812

$

(73,421)

$

731,482

common shareholders

Operating income (loss) available (attributable) to RenaissanceRe

$

213,692

$

(414,538)

$

278,050

$

4,395

$

(77,122)

$

81,599

$

14,640

common shareholders (1)

Per share data

Net income (loss) available (attributable) to RenaissanceRe

$

4.65

$

(9.75)

$

9.36

$

(5.87)

$

3.75

$

(1.57)

$

15.34

common shareholders per common share - basic

Net income (loss) available (attributable) to RenaissanceRe

$

4.65

$

(9.75)

$

9.35

$

(5.87)

$

3.74

$

(1.57)

$

15.31

common shareholders per common share - diluted

Operating income (loss) available (attributable) to RenaissanceRe

$

4.71

$

(8.98)

$

5.64

$

0.09

$

(1.59)

$

1.72

$

0.12

common shareholders per common share - diluted (1)

Book value per common share

$

132.17

$

128.91

$

139.35

$

131.15

$

138.46

$

132.17

$

138.46

Tangible book value per common share (1)

$

126.27

$

123.24

$

133.75

$

125.73

$

133.09

$

126.27

$

133.09

Tangible book value per common share plus accumulated

$

149.79

$

146.40

$

156.55

$

148.17

$

155.17

$

149.79

$

155.17

dividends (1)

Change in tangible book value per common share plus change in

2.8 %

(7.6)%

6.7 %

(5.3)%

3.0 %

(4.0)%

17.9 %

accumulated dividends (1)

Financial ratios

Combined ratio

79.4 %

145.1 %

72.4 %

103.1 %

114.7 %

102.1 %

101.9 %

Retuon average common equity - annualized

14.2 %

(28.4)%

27.6 %

(17.1)%

10.9 %

(1.1)%

11.7 %

Operating retuon average common equity - annualized (1)

14.4 %

(26.1)%

16.8 %

0.3 %

(4.4)%

1.3 %

0.2 %

Total investment retu- annualized

1.1 %

0.7 %

5.2 %

(4.9)%

6.6 %

0.5 %

5.9 %

Three months ended

Twelve months ended

December 31,

September 30,

June 30,

March 31,

December 31,

December 31,

December 31,

Revenues

2021

2021

2021

2021

2020

2021

2020

Gross premiums written

$

1,313,018

$

1,774,180

$

2,094,158

$

2,652,442

$

935,514

$

7,833,798

$

5,806,165

Net premiums written

$

1,116,560

$

1,486,440

$

1,512,292

$

1,824,083

$

746,311

$

5,939,375

$

4,096,333

Decrease (increase) in unearned premiums

224,730

19,825

(319,502)

(670,247)

282,774

(745,194)

(143,871)

Net premiums earned

1,341,290

1,506,265

1,192,790

1,153,836

1,029,085

5,194,181

3,952,462

Net investment income

80,483

78,267

80,925

79,804

81,717

319,479

354,038

Net foreign exchange gains (losses)

(16,697)

(4,755)

3,234

(22,788)

23,270

(41,006)

27,773

Equity in earnings (losses) of other ventures

3,830

5,305

8,732

(5,558)

(1,868)

12,309

17,194

Other income (loss)

6,431

1,692

586

2,171

4,374

10,880

213

Net realized and unrealized gains (losses) on investments

(21,518)

(42,071)

191,018

(345,563)

258,745

(218,134)

820,636

Total revenues

1,393,819

1,544,703

1,477,285

861,902

1,395,323

5,277,709

5,172,316

Expenses

Net claims and claim expenses incurred

690,970

1,798,045

520,021

867,051

901,353

3,876,087

2,924,609

Acquisition expenses

333,986

328,048

285,590

267,234

238,283

1,214,858

897,677

Operational expenses

39,673

58,997

58,203

55,311

41,104

212,184

206,687

Corporate expenses

10,426

10,196

10,125

10,405

21,031

41,152

96,970

Interest expense

11,872

11,919

11,833

11,912

11,841

47,536

50,453

Total expenses

1,086,927

2,207,205

885,772

1,211,913

1,213,612

5,391,817

4,176,396

Income (loss) before taxes

306,892

(662,502)

591,513

(350,011)

181,711

(114,108)

995,920

Income tax benefit (expense)

(18,616)

23,630

(13,862)

19,516

9,923

10,668

(2,862)

Net income (loss)

288,276

(638,872)

577,651

(330,495)

191,634

(103,440)

993,058

Net (income) loss attributable to redeemable noncontrolling

(68,516)

198,495

(113,544)

46,850

5,467

63,285

(230,653)

interests

Net income (loss) attributable to RenaissanceRe

219,760

(440,377)

464,107

(283,645)

197,101

(40,155)

762,405

Dividends on preference shares

(8,843)

(9,845)

(7,289)

(7,289)

(7,289)

(33,266)

(30,923)

Net income (loss) available (attributable) to

$

210,917

$

(450,222)

$

456,818

$

(290,934)

$

189,812

$

(73,421)

$

731,482

RenaissanceRe common shareholders

Net income (loss) available (attributable) to RenaissanceRe

$

4.65

$

(9.75)

$

9.36

$

(5.87)

$

3.75

$

(1.57)

$

15.34

common shareholders per common share - basic

Net income (loss) available (attributable) to RenaissanceRe

$

4.65

$

(9.75)

$

9.35

$

(5.87)

$

3.74

$

(1.57)

$

15.31

common shareholders per common share - diluted

Operating income (loss) available (attributable) to

RenaissanceRe common shareholders per common share

$

4.71

$

(8.98)

$

5.64

$

0.09

$

(1.59)

$

1.72

$

0.12

- diluted (1)

Retuon average common equity - annualized

14.2 %

(28.4)%

27.6 %

(17.1)%

10.9 %

(1.1)%

11.7 %

Operating retuon average common equity - annualized (1)

14.4 %

(26.1)%

16.8 %

0.3 %

(4.4)%

1.3 %

0.2 %