Our total shareholders’ equity attributable to RenaissanceRe and total debt was as follows: At December 31, 2021 2020 Change (in thousands) Common shareholders’ equity $ 5,874,281 $ 7,035,248 $ (1,160,967) Preference shares 750,000 525,000 225,000 Total shareholders’ equity attributable to RenaissanceRe 6,624,281 7,560,248 (935,967) 3.600% Senior Notes due 2029 393,305 392,391 914 3.450% Senior Notes due 2027 297,281 296,787 494 3.700% Senior Notes due 2025 298,798 298,428 370 4.750% Senior Notes due 2025 (DaVinciRe) (1) 148,969 148,659 310 Total senior notes 1,138,353 1,136,265 2,088 Medici Revolving Credit Facility (2) 30,000 — 30,000 Total debt $ 1,168,353 $ 1,136,265 $ 32,088 (1) RenaissanceRe owns a noncontrolling economic interest in its joint venture DaVinciRe. Because RenaissanceRe controls a majority of DaVinciRe’s outstanding voting rights, the consolidated financial statements of DaVinciRe are included in the consolidated financial statements of RenaissanceRe. However, RenaissanceRe does not guarantee or provide credit support for DaVinciRe and RenaissanceRe’s financial exposure to DaVinciRe is limited to its investment in DaVinciRe’s shares and counterparty credit risk arising from reinsurance transactions. (2) RenaissanceRe owns a noncontrolling economic interest in Medici. Because RenaissanceRe controls all of Medici’s outstanding voting rights, the financial statements of Medici are included in RenaissanceRe’s consolidated financial statements. Our shareholders’ equity attributable to RenaissanceRe decreased $0.9 billion during 2021 principally as a result of: • the repurchase of 6.6 million common shares in open market transactions at an aggregate cost of $1.0 billion and an average price of $156.78 per common share; • the redemption of all Series E 5.375% Preference Shares for $275.0 million plus accrued and unpaid dividends thereon; • our comprehensive loss attributable to RenaissanceRe of $38.4 million; and • $67.8 million and $33.3 million of dividends on our common and preference shares, respectively; and partially offset by • raising $500.0 million in gross proceeds in July 2021 through the issuance of 20,000,000 Depositary Shares, each of which represents a 1/1,000th interest in a share of our 4.20% Series G Preference Shares. Our debt increased $32.1 million during the year ended December 31, 2021 principally as a result of $30.0 million that was drawn under the Medici Revolving Credit Facility. For additional information related to the terms of our debt and significant credit facilities, see “Note 9. Debt and Credit Facilities” in our “Notes to the Consolidated Financial Statements.” See “Note 12. Shareholders’ Equity” in our “Notes to the Consolidated Financial Statements” for additional information related to our common and preference shares. 97