net income attributable to redeemable noncontrolling interests. The Company has not provided any financial or other support to 0ermeer that it was not contractually required to provide. 2021 During 2021, PF4W subscribed for 50.0 million of the participating, non-voting common shares of 0ermeer. 2020 During 2020, PF4W subscribed for 45.0 million of the participating, non-voting common shares of 0ermeer. The Company does not expect its noncontrolling economic ownership in 0ermeer to fluctuate over time. The activity in redeemable noncontrolling interest R 0ermeer is detailed in the table below: Year ended December 31, 2021 2020 eginning balance  1,109,627  1,003,615 Sale of shares to redeemable noncontrolling interest 50,000 45,000 Net income (loss) attributable to redeemable noncontrolling interest 38,155 61,012 nding balance  1,197,782  1,109,627 NOTE 11. VARIABLE INTEREST ENTITIES Upsilon RFO RenaissanceRe indirectly owns a portion of the participating non-voting preference shares of /psilon RFO and all of /psilon RFO’s voting Class A shares. The shareholders (other than the voting Class A shareholder) participate in all of the profits or losses of /psilon RFO while their shares remain outstanding. The shareholders (other than the voting Class A shareholder) indemnify /psilon RFO against losses relating to insurance risk and therefore these shares have been accounted for as prospective reinsurance under FAS ASC Topic Financial Services - Insurance . /psilon RFO is considered a 0I as it has insufficient equity capital to finance its activities without additional financial support. The Company is the primary beneficiary of /psilon RFO as it has the power over the activities that most significantly impact the economic performance of /psilon RFO and has the obligation to absorb expected losses and the right to receive expected benefits that could be significant to /psilon RFO, in accordance with the accounting guidance. As a result, the Company consolidates /psilon RFO and all significant inter-company transactions have been eliminated. Other than its equity investment in /psilon RFO, the Company has not provided financial or other support to /psilon RFO that it was not contractually required to provide. 2021 During 2021, 544.6 million of /psilon RFO non-voting preference shares were issued to existing investors, including 32.3 million to the Company. Also during 2021 and following the release of collateral that was previously held by cedants associated with prior years contracts, /psilon RFO returned 571.9 million of capital to its investors, including 45.0 million to the Company. At December 31, 2021, the Company’s participation in the risks assumed by /psilon RFO was 13.7%. At December 31, 2021, the Companys consolidated balance sheet included total assets and total liabilities of /psilon RFO of 3.9 billion and 3.9 billion, respectively (December 31, 2020 - 3.8 billion and 3.8 billion, respectively). Of the total assets and liabilities, a net amount of 238.0 million is attributable to the Company, and 1.5 billion is attributable to third-party investors. See “Note 22. Subsequent vents” for additional information related to /psilon RFO’s non-voting preference shares subsequent to December 31, 2021. F-63