RenaissanceRe Holdings Ltd. and Subsidiaries Consolidated Balance Sheets At December 31, 2021 and 2020 (in thousands of United States Dollars, except share and per share amounts) December 31, 2021 December 31, 2020 Assets Fixed maturity investments trading, at fair value - amortized cost $13,552,579 at December 31, 2021 ( 2020 - $13,155,035) (Notes 5 and 6) $ 13,507,131 $ 13,506,503 Short term investments, at fair value (Notes 5 and 6) 5,298,385 4,993,735 Equity investments trading, at fair value (Notes 5 and 6) 546,016 702,617 Other investments, at fair value (Notes 5 and 6) 1,993,059 1,256,948 Investments in other ventures, under equity method (Note 5) 98,068 98,373 Total investments 21,442,659 20,558,176 Cash and cash equivalents 1,859,019 1,736,813 Premiums receivable (Note 7) 3,781,542 2,894,631 Prepaid reinsurance premiums (Note 7) 854,722 823,582 Reinsurance recoverable (Notes 7 and 8) 4,268,669 2,926,010 Accrued investment income 55,740 66,743 Deferred acquisition costs and value of business acquired 849,160 633,521 Receivable for investments sold 380,442 568,293 Other assets 224,053 363,170 Goodwill and other intangible assets (Note 4) 243,496 249,641 Total assets $ 33,959,502 $ 30,820,580 Liabilities, Noncontrolling Interests and Shareholders’ Equity Liabilities Reserve for claims and claim expenses (Note 8) $ 13,294,630 $ 10,381,138 Unearned premiums 3,531,213 2,763,599 Debt (Note 9) 1,168,353 1,136,265 Reinsurance balances payable 3,860,963 3,488,352 Payable for investments purchased 1,170,568 1,132,538 Other liabilities 755,441 970,121 Total liabilities 23,781,168 19,872,013 Commitments and Contingencies (Note 20) Redeemable noncontrolling interests (Note 10) 3,554,053 3,388,319 Shareholders’ Equity (Note 12) Preference shares: $1.00 par value – 30,000 shares issued and outstanding at December 31, 2021 ( 2020 – 11,010,000) 750,000 525,000 Common shares: $1.00 par value – 44,444,831 shares issued and outstanding at December 31, 2021 ( 2020 – 50,810,618) 44,445 50,811 Additional paid-in capital 608,121 1,623,206 Accumulated other comprehensive income (loss) (10,909) (12,642) Retained earnings 5,232,624 5,373,873 Total shareholders’ equity attributable to RenaissanceRe 6,624,281 7,560,248 Total liabilities, noncontrolling interests and shareholders’ equity $ 33,959,502 $ 30,820,580 See accompanying notes to the consolidated financial statements F-4