The following tables summarize the principal currencies creating foreign exchange risk for us and our net foreign currency exposures and the impact of a hypothetical 10% change in our net foreign currency exposure, keeping all other variables constant, as of the dates indicated: At December 31, 2021 AUD CAD EUR GBP JPY NZD Other Total (in thousands, except for percentages) Net assets (liabilities) denominated in foreign currencies $ 92,683 $ 59,000 $ (372,987) $ (322,628) $ 4,053 $ (20,167) $ (74,000) $ (634,046) Net foreign currency derivatives notional amounts (108,168) (58,725) 369,335 327,339 (313) 19,760 56,052 605,280 Total net foreign currency exposure $ (15,485) $ 275 $ (3,652) $ 4,711 $ 3,740 $ (407) $ (17,948) $ (28,766) Net foreign currency exposure as a percentage of total shareholders’ equity attributable to RenaissanceRe (0.2) % — % (0.1) % 0.1 % 0.1 % — % (0.3) % (0.4) % Impact of a hypothetical 10% change in total net foreign currency exposure $ 1,549 $ (28) $ 365 $ (471) $ (374) $ 41 $ 1,795 $ 2,877 At December 31, 2020 AUD CAD EUR GBP JPY NZD Other Total (in thousands, except for percentages) Net (liabilities) assets denominated in foreign currencies $ 103,401 $ 34,294 $ (4,254) $ (322,565) $ (28,649) $ (62,892) $ (28,707) $ (309,372) Net foreign currency derivatives notional amounts (61,228) (35,024) (103,426) 312,790 86,314 66,649 36,217 302,292 Total net foreign currency exposure $ 42,173 $ (730) $ (107,680) $ (9,775) $ 57,665 $ 3,757 $ 7,510 $ (7,080) Net foreign currency exposure as a percentage of total shareholders’ equity attributable to RenaissanceRe 0.6 % — % (1.4) % (0.1) % 0.8 % — % 0.1 % (0.1) % Impact of a hypothetical 10% change in total net foreign currency exposure $ (4,217) $ 73 $ 10,768 $ 978 $ (5,767) $ (376) $ (751) $ 708 Credit Risk Credit risk relates to the uncertainty of a counterparty’s ability to make timely payments in accordance with contractual terms of the instrument or contract and market risk associated with changes in credit spreads. We are primarily exposed to direct credit risk within our portfolios of fixed maturity and short term 111