Corporate expenses decreased $55.8 million to $41.2 million, in 2021, compared to $97.0 million in 2020. The decrease of $55.8 million was primarily due to higher non-recurring expenses in 2020 resulting from the loss on sale of RenaissanceRe UK, executive compensation charges and certain integration and compensation related costs associated with the acquisition of TMR. Corporate expenses increased $2.8 million to $97.0 million, in 2020, compared to $94.1 million in 2019. Corporate expenses for 2020 included a loss of $30.2 million on the sale of RenaissanceRe UK on August 18, 2020, including related transaction and other expenses, and $8.5 million of certain expenses associated with senior management departures during the year. In comparison, corporate expenses in 2019 included $49.7 million of corporate expenses associated with the acquisition of TMR. Interest Expense and Preferred Share Dividends Year ended December 31, 2021 2020 2019 (in thousands) Interest Expense $250.0 million 5.75% Senior Notes due 2020 $ — $ 2,995 $ 14,375 $300.0 million 3.700% Senior Notes due 2025 11,100 11,100 11,100 $300.0 million 3.450% Senior Notes due 2027 10,350 10,350 10,350 $400.0 million 3.600% Senior Notes due 2029 14,400 14,400 10,720 $150.0 million 4.750% Senior Notes due 2025 (DaVinciRe) 7,125 7,125 7,125 Other 4,561 4,483 4,694 Total interest expense 47,536 50,453 58,364 Preferred Share Dividends $125.0 million 6.08% Series C Preference Shares — 1,767 7,600 $275.0 million 5.375% Series E Preference Shares 9,033 14,781 14,781 $250.0 million 5.750% Series F Preference Shares 14,375 14,375 14,375 $500.0 million 4.20% Series G Preference Shares 9,858 — — Total preferred share dividends 33,266 30,923 36,756 Total interest expense and preferred share dividends $ 80,802 $ 81,376 $ 95,120 Interest expense decreased $2.9 million to $47.5 million in 2021, compared to $50.5 million in 2020. Interest expense decreased $7.9 million to $50.5 million in 2020, compared to $58.4 million in 2019, primarily driven by the maturity of our 5.75% Senior Notes in March 2020. Preferred share dividends increased $2.3 million to $33.3 million in 2021, compared to $30.9 million in 2020, primarily driven by the issuance of 4.20% Series G Preference Shares in July, 2021, partially offset by the redemption in full of the $275.0 million 5.375% Series E Preference Shares in August, 2021 and the redemption in full of 6.08% Series C Preference Shares in 2020. Preferred share dividends decreased $5.8 million to $30.9 million in 2020, compared to $36.8 million in 2019, primarily driven by the redemption in full of the $125 million outstanding principal amount of 6.08% Series C Preference Shares in March, resulting in only three months of dividends compared to 12 months in the prior period. 88