RenaissanceRe reports $152M net loss

Cover page 2 changes

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For the quarterly period ended June September 30, 2026

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The number of Common Shares, par value U.S. $1.00 per share, outstanding at July 20, October 23, 2026 was 41,551,893 40,409,229 .

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Exhibits 6 changes

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2025 Large Loss Events a series of wildfires that burned throughout southern California in January 2025 (the California Wildfires ), Hurricane Melissa and the Other 2025 Large Loss Events

2026 Large Loss Events the Middle East War, the Ras Laffan Explosion and the Colombian Earthquake

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the collapse of the Francis Scott Key Bridge in Baltimore following a collision with a cargo ship in March 2024 the earthquake that occurred in August 2026 in Choco, Colombia

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Form 10-Q this Quarterly Report on Form 10-Q for the quarterly period ended June September 30, 2026

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RenaissanceRe Medici UCITS Fund, a sub-fund of RenaissanceRe Medici ICAV losses related to the conflict in the Middle East, including losses related to energy facilities

1 unchanged paragraph

Other 2025 Large Loss Events the crash of American Airlines flight 5342 in January 2025, certain refinery fires in the first quarter of 2025, the crash of UPS Airlines flight 2976 and the Grasberg mine landslide an explosion from an operational accident at a liquefied natural gas facility that occurred in June 2026 in Ras Laffan Industrial City in Qatar

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Financial statements 5 changes

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Consolidated Balance Sheets at June September 30, 2026 (unaudited) and December 31, 2025 (audited)

Consolidated Statements of Operations for the three and six nine months ended June September 30, 2026 and 2025 (unaudited)

Consolidated Statements of Comprehensive Income (Loss) for the three and six nine months ended June September 30, 2026 and 2025 (unaudited)

Consolidated Statements of Changes in Shareholders Equity for the three and six nine months ended June September 30, 2026 and 2025 (unaudited)

Consolidated Statements of Cash Flows for the six nine months ended June September 30, 2026 and 2025 (unaudited)

Note 15: Subsequent Events 123 changes

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At June September 30, 2026 and December 31, 2025

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Fixed maturity investments trading, at fair value - amortized cost $ 25,281,536 25,997,879 at June September 30, 2026 (December 31, 2025 - $ 24,658,351 ) (Notes 3 and 4)

Short term investments, at fair value - amortized cost $ 3,952,780 4,010,180 at June September 30, 2026 (December 31, 2025 - $ 4,760,027 ) (Notes 3 and 4)

2 unchanged paragraphs

Investments in other ventures, under equity method 149,337 162,677 121,871

Total investments 36,213,100 36,191,038 36,073,209

Cash and cash equivalents 1,302,160 1,098,282 1,731,181

3 unchanged paragraphs

Other assets 422,106 328,087

Total assets $ 55,195,613 $ 53,800,390

Accrued investment income 250,610 242,834 233,688

Deferred acquisition costs and value of business acquired 1,706,129 1,687,757 1,538,540

Deferred tax asset 693,186 728,227 701,927

Receivable for investments sold 305,237 1,034,240 414,523

Other assets 452,618 328,087

Goodwill and other intangible assets 602,439 587,107 633,087

Total assets $ 54,831,196 $ 53,800,390

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Unearned premiums 7,176,037 6,028,174

Other liabilities 649,551 856,302

Unearned premiums 6,619,452 6,028,174

Reinsurance balances payable 3,056,013 2,730,064 2,540,518

Payable for investments purchased 550,409 1,406,784 533,101

Other liabilities 662,632 856,302

Total liabilities 36,032,051 36,044,895 34,589,641

2 unchanged paragraphs

Preference shares: $ 1.00 par value - 30,000 shares issued and outstanding at June September 30, 2026 (December 31, 2025 - 30,000 ) (Note 10)

Common shares: $ 1.00 par value - 41,811,353 40,841,495 shares issued and outstanding at June September 30, 2026 (December 31, 2025 - 43,961,539 ) (Note 10)

1 unchanged paragraph

Accumulated other comprehensive income (loss) ( 13,045 13,349 ) ( 12,626 )

1 unchanged paragraph

Total shareholders equity attributable to RenaissanceRe 11,820,209 11,352,541 11,608,657

Total liabilities, noncontrolling interests and shareholders equity $ 55,195,613 54,831,196 $ 53,800,390

3 unchanged paragraphs

For the three and six months ended June 30, 2026 and 2025

For the three and nine months ended September 30, 2026 and 2025 (in thousands of United States Dollars, except per share amounts) (Unaudited)

Three months ended Six Nine months ended

5 unchanged paragraphs

Net foreign exchange gains (losses) ( 7,345 ) 8,660 ( 16,364 ) 1,332

Net foreign exchange gains (losses) 831 877 ( 15,533 ) 2,209

2 unchanged paragraphs

Total revenues 2,768,601 3,206,599 4,963,517 6,677,087

Total revenues 1,691,470 3,198,182 6,654,987 9,875,269

1 unchanged paragraph

Acquisition expenses 563,279 642,605 1,085,129 1,290,040

Operational expenses 94,747 125,738 183,782 225,923

Corporate expenses 18,681 23,781 38,141 46,591

Acquisition expenses 542,893 659,723 1,628,022 1,949,763

Operational expenses 105,600 125,073 289,382 350,996

Corporate expenses 16,685 23,414 54,826 70,005

1 unchanged paragraph

Total expenses 1,650,863 1,866,040 3,296,965 5,407,314

Income (loss) before taxes 1,117,738 1,340,559 1,666,552 1,269,773

Income tax benefit (expense) ( 139,400 ) ( 176,869 ) ( 172,384 ) ( 131,344 )

Net income (loss) 978,338 1,163,690 1,494,168 1,138,429

Total expenses 1,723,464 1,717,612 5,020,429 7,124,926

Income (loss) before taxes ( 31,994 ) 1,480,570 1,634,558 2,750,343

Income tax benefit (expense) 30,153 ( 148,860 ) ( 142,231 ) ( 280,204 )

Net income (loss) ( 1,841 ) 1,331,710 1,492,327 2,470,139

1 unchanged paragraph

Net income (loss) attributable to RenaissanceRe 663,078 835,351 956,457 1,005,342

Net income (loss) attributable to RenaissanceRe ( 152,541 ) 916,510 803,916 1,921,852

1 unchanged paragraph

Net income (loss) available (attributable) to RenaissanceRe common shareholders $ 654,234 ( 161,384 ) $ 826,507 907,667 $ 938,769 777,385 $ 987,654 1,895,321

5 unchanged paragraphs

For the three and six months ended June 30, 2026 and 2025

For the three and nine months ended September 30, 2026 and 2025 (in thousands of United States Dollars) (Unaudited)

Three months ended Six Nine months ended

1 unchanged paragraph

Net income (loss) $ 978,338 $ 1,163,690 $ 1,494,168 $ 1,138,429

Comprehensive income (loss) 977,445 1,164,768 1,493,749 1,139,419

Comprehensive income (loss) attributable to RenaissanceRe $ 662,185 $ 836,429 $ 956,038 $ 1,006,332

Net income (loss) $ ( 1,841 ) $ 1,331,710 $ 1,492,327 $ 2,470,139

Change in net unrealized gains (losses) on investments, net of tax ( 269 ) 163 ( 293 225 ) 201 ( 136 518 ) 65

Foreign currency translation adjustments, net of tax ( 624 79 ) 915 ( 126 82 ) 1,126 ( 205 ) 1,044

Comprehensive income (loss) ( 2,145 ) 1,331,829 1,491,604 2,471,248

Comprehensive (income) loss attributable to redeemable noncontrolling interests ( 315,260 150,700 ) ( 328,339 415,200 ) ( 537,711 688,411 ) ( 133,087 548,287 )

Comprehensive income (loss) attributable to RenaissanceRe $ ( 152,845 ) $ 916,629 $ 803,193 $ 1,922,961

3 unchanged paragraphs

For the three and six months ended June 30, 2026 and 2025

For the three and nine months ended September 30, 2026 and 2025 (in thousands of United States Dollars) (Unaudited)

Three months ended Six Nine months ended

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Beginning balance 42,974 48,928 43,962 50,181

Beginning balance 41,811 47,370 43,962 50,181

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Ending balance 41,811 47,370 41,811 47,370

Ending balance 40,841 46,501 40,841 46,501

1 unchanged paragraph

Beginning balance 1,146,653 791,004 1,512,435

1 unchanged paragraph

Change in redeemable noncontrolling interests ( 345 ) 80 ( 285 205 )

1 unchanged paragraph

Ending balance 791,004 791,004

Ending balance 605,305 605,305

1 unchanged paragraph

Beginning balance ( 12,152 ) ( 14,844 ) ( 12,626 ) ( 14,756 )

Net income (loss) 978,338 1,163,690 1,494,168 1,138,429

Ending Beginning balance ( 13,045 ) ( 13,766 ) ( 13,045 12,626 ) ( 13,766 14,756 )

Change in net unrealized gains (loss) on investments, net of tax ( 269 ) 163 ( 293 225 ) 201 ( 136 518 ) 65

Foreign currency translation adjustments, net of tax ( 624 79 ) 915 ( 126 82 ) 1,126 ( 205 ) 1,044

Ending balance ( 13,349 ) ( 13,647 ) ( 13,349 ) ( 13,647 )

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and 43 more changes in the filing

Note 3: INVESTMENTS 62 changes

2 unchanged paragraphs

Agencies 560,030 486,817

At June September 30, 2026 At December 31, 2025

Corporate $ 9,916,723 9,807,924 $ 8,528,828

U.S. Treasuries 9,308,212 9,037,223 10,641,503

Residential mortgage-backed 2,690,648 3,449,802 2,606,882

Asset-backed 1,688,500 1,357,970 1,606,790

Agencies 641,239 486,817

Non-U.S. government 683,983 580,896 691,912

Commercial mortgage-backed 337,334 328,193 321,591

Total fixed maturity investments trading $ 25,185,430 25,203,247 $ 24,884,323

1 unchanged paragraph

At June September 30, 2026 At December 31, 2025

4 unchanged paragraphs

Asset-backed 1,689,729 1,688,500 1,368,179 1,357,970 1,601,715 1,606,790

1 unchanged paragraph

Financials 139,961 147,996

At June September 30, 2026 At December 31, 2025

Fixed income exchange traded funds $ 1,603,299 1,547,207 $ 1,582,811

Equity exchange traded funds 102,273 90,613

Financials 128,721 147,996

1 unchanged paragraph

At June September 30, 2026, $ 8.2 7.8 billion (December 31, 2025 - $ 8.6 billion) of cash and investments at fair value were on deposit with, or in trust accounts for the benefit of, various counterparties, including with respect to the Company s letter of credit facilities. Of this amount, $ 2.2 2.1 billion (December 31, 2025 - $ 2.5 billion) is on deposit with, or in trust accounts for the benefit of, U.S. state regulatory authorities.

1 unchanged paragraph

At June September 30, 2026, the Company held $ 120.6 44.6 million (December 31, 2025 - $ 59.2 million) of reverse repurchase agreements. These loans are fully collateralized, are generally outstanding for a short period of time and are presented on a gross basis as part of short term investments on the Company s consolidated balance sheets. The required collateral for these loans typically includes high-quality, readily marketable instruments. Upon maturity, the Company receives principal and interest income.

1 unchanged paragraph

At June September 30, 2026 At December 31, 2025

5 unchanged paragraphs

Catastrophe bonds 1,772,044 1,625,250 1,613,710

Direct private equity investments 154,876 155,594 185,005

Total other investments $ 5,083,169 5,047,962 $ 4,574,214

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During the six nine months ended June September 30, 2026, investors subscribed for $ 20.5 million of the participating shares of Medici UCITS. In addition, investors redeemed $ 23.4 million of the participating shares of Medici UCITS.

During the six nine months ended June September 30, 2025, investors subscribed for $ 348.7 356.5 million of the participating shares of Medici UCITS, including $ 140.0 million from the Company. Of this amount, $ 316.5 million represented a transfer in kind from existing investors in RenaissanceRe Medici Fund Ltd. ( Medici ), including the Company.

For the three and six nine months ended June September 30, 2026, net income of $ 3.2 7.0 million and $ 5.5 12.5 million from Medici UCITS was attributable to the Company (June 30, (2025 - $ 2.4 7.5 million and $ 3.5 11.0 million). At June September 30, 2026, the total net asset value ( NAV ) of Medici UCITS was $ 457.6 475.8 million, of which $ 160.0 167.0 million was attributable to the Company (December 31, 2025 - $ 449.9 million and $ 154.5 million), and the Company s ownership in Medici UCITS was 35.0 35.1 % (December 31, 2025 - 34.3 %).

5 unchanged paragraphs

At June 30, 2026 $ 3,084,076 $ 3,489,165 $ 6,573,241

At September 30, 2026 $ 3,212,156 $ 3,859,248 $ 7,071,404

6 unchanged paragraphs

Fixed maturity investments trading $ 297,222 $ 282,173 $ 591,716 $ 566,896

Short term investments 32,957 48,415 67,263 89,444

Three months ended Six Nine months ended

Fixed maturity investments trading $ 307,844 $ 287,139 $ 899,560 $ 854,035

Short term investments 30,851 51,855 98,114 141,299

1 unchanged paragraph

Catastrophe bonds 40,095 47,948 80,027 102,702

Catastrophe bonds 44,403 50,503 124,430 153,205

1 unchanged paragraph

Cash and cash equivalents 9,420 12,333 20,583 23,443

Investment expenses ( 7,333 ) ( 6,596 ) ( 14,306 ) ( 13,492 )

Cash and cash equivalents 8,407 12,045 28,990 35,488

Investment expenses ( 8,093 ) ( 6,710 ) ( 22,399 ) ( 20,202 )

Net investment income $ 432,489 440,853 $ 413,108 438,354 $ 852,991 1,293,844 $ 818,461 1,256,815 (1) In the fourth quarter of 2025, the Company revised the description of its other equity investments to common stock.

3 unchanged paragraphs

Fixed maturity investments trading $ ( 119,520 ) $ 94,579 ( 356,644 ) 330,854

Three months ended Six Nine months ended

Fixed maturity investments trading $ ( 831,471 ) $ 86,089 ( 1,188,115 ) 416,943

Equity investments ( 78,966 ) 7,150 ( 131,951 ) 33,979

1 unchanged paragraph

Equity investments 14,097 23,871 ( 52,985 ) 26,829

Catastrophe bonds ( 1,125 ) ( 14,016 ) ( 12,954 ) ( 54,429 )

Catastrophe bonds 34,971 44,592 22,017 ( 9,837 )

1 unchanged paragraph

Net realized and unrealized gains (losses) on investments $ 121,628 ( 879,843 ) $ 349,720 311,890 $ ( 300,285 1,180,128 ) $ 682,660 994,550 (1) Included in investment-related derivatives for the three and six nine months ended June September 30, 2026 are gains (losses) related to fixed maturity investment-related derivatives of $( 4.2 68.1 ) million and $( 26.6 94.8 ) million (June 30, (2025 - $( 54.9 40.5 ) million and $ 131.5 91.0 million), equity investment-related derivatives of $ 203.2 16.8 million and $ 122.9 139.7 million (June 30, (2025 - $ 87.2 78.0 million and $ 34.7 112.7 million) and commodity-related derivatives of $ 79.1 ) 0.3 million and $( 13.8 13.5 ) million (June 30, (2025 - $ 33.3 143.6 million and $ 150.8 294.4 million). Refer to Note 13. Derivative Instruments for additional information on investment-related derivatives.

1 unchanged paragraph

Net realized and unrealized gains (losses) on fixed maturity investments trading and equity investments is are split between realized and unrealized gains (losses) as follows:

Three months ended Six Nine months ended

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Net realized gains (losses) $ ( 18,225 ) $ ( 1,767 ) $ ( 38,336 ) $ 8,268

Net unrealized gains (losses) ( 101,295 ) 96,346 ( 318,308 ) 322,586

Net realized and unrealized gains (losses) $ ( 119,520 ) $ 94,579 $ ( 356,644 ) $ 330,854

Net realized gains (losses) $ 864 $ 64 9,067 $ 72

Net unrealized gains (losses) 13,233 23,807 ( 62,052 ) 26,757

Net realized and unrealized gains (losses) $ 14,097 $ 23,871 $ ( 52,985 ) $ 26,829

Net realized gains (losses) $ ( 137,500 ) $ 19,293 $ ( 175,836 ) $ 27,561

Net unrealized gains (losses) ( 693,971 ) 66,796 ( 1,012,279 ) 389,382

Net realized and unrealized gains (losses) $ ( 831,471 ) $ 86,089 $ ( 1,188,115 ) $ 416,943

Net realized gains (losses) $ ( 721 ) $ 541 8,346 $ 613

Net unrealized gains (losses) ( 78,245 ) 6,609 ( 140,297 ) 33,366

Net realized and unrealized gains (losses) $ ( 78,966 ) $ 7,150 $ ( 131,951 ) $ 33,979

Note 4: FAIR VALUE MEASUREMENTS 81 changes

9 unchanged paragraphs

At June September 30, 2026 Total Quoted Prices in Active

2 unchanged paragraphs

Corporate $ 9,916,723 $ $ 9,697,026 $ 219,697

Residential mortgage-backed 2,690,648 2,690,648

Asset-backed 1,688,500 1,596,733 91,767

Agencies 560,030 560,030

Commercial mortgage-backed 337,334 337,334

Total fixed maturity investments trading 25,185,430 9,308,212 15,565,754 311,464

Short term investments 3,949,012 8,815 3,940,197

Common stock 140,580 140,580

Catastrophe bonds 1,772,044 1,772,044

Direct private equity investments 154,876 131,251 23,625

Corporate $ 9,807,924 $ $ 9,560,977 $ 246,947

U.S. Treasuries 9,308,212 9,308,212 9,037,223 9,037,223

Residential mortgage-backed 3,449,802 3,449,802

Asset-backed 1,357,970 1,221,112 136,858

Agencies 641,239 641,239

Non-U.S. government 683,983 683,983 580,896 580,896

Commercial mortgage-backed 328,193 328,193

Total fixed maturity investments trading 25,203,247 9,037,223 15,782,219 383,805

Short term investments 4,009,923 18,193 3,991,730

Fixed income exchange traded funds 1,603,299 1,603,299 1,547,207 1,547,207

Common stock 129,409 129,409

Equity exchange traded funds 102,273 102,273 90,613 90,613

Total equity investments 1,846,152 1,846,152 1,767,229 1,767,229

Catastrophe bonds 1,625,250 1,625,250

Direct private equity investments 155,594 131,032 24,562

1 unchanged paragraph

Total other investments 5,083,169 1,903,295 23,625

Total other investments 5,047,962 1,756,282 24,562

3 unchanged paragraphs

Total other assets and (liabilities) ( 2,983 ) 10,527 ( 13,510 )

Total other assets and (liabilities) ( 14,569 ) 2,591 ( 17,160 )

36 unchanged paragraphs

Level 3 - The Company s corporate fixed maturity investments included certain investments whose fair value was obtained using significant unobservable inputs which were not developed by the Company. These investments were valued by the Company s external investment managers without significant adjustment. The Company s external investment managers have used independent third parties to determine the fair value of these securities. At December 31, 2025, these investments were valued at recent transaction price, due to a lack of observable pricing inputs. At June September 30, 2026 and December 31, 2025, these securities had a weighted average credit quality of BBB.

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Non-agency mortgage-based mortgage-backed securities are primarily priced by pricing services using an option adjusted spread model or other relevant models, which principally utilize inputs including benchmark yields, available trade information or broker quotes, and issuer spreads. The pricing services also review collateral prepayment speeds, loss severity and delinquencies among other collateral performance indicators for the securities valuation, when applicable.

1 unchanged paragraph

Level 2 - The Company s non-U.S. government fixed maturity investments consisted of securities issued by non-U.S. governments and their respective agencies as well as supranational organizations. Securities held in these sectors are primarily priced by pricing services that employ proprietary discounted cash flow models to value the securities. Key quantitative inputs for these models are daily observed benchmark curves for treasury, swap and high issuance credits. The pricing services then apply a credit spread for each security which is developed by in-depth and real time market analysis. For securities in which trade volume is low, the pricing services utilize data from more frequently traded securities with similar attributes. These models may also be supplemented by daily market and credit research for international markets.

Level 3 - At June September 30, 2026, the Company s asset-backed fixed maturity investments included $ 50.2 101.1 million (December 31, 2025 - $ Nil ) whose fair value was obtained using significant unobservable inputs which were not developed by the Company. These investments were valued by the Company s external investment managers without significant adjustment. The Company s external investment managers have used independent third parties to determine the fair value of these securities. At June September 30, 2026, these securities had a weighted average credit quality of BBB.

The Company s asset-backed fixed maturity investments also included $ 41.6 35.8 million (December 31, 2025 - $ 39.9 million) of investments with the fair value obtained through the use of discounted cash flow models developed by the Company, due to a lack of observable pricing inputs. At June September 30, 2026 and December 31, 2025, these securities had a weighted average credit quality of BBB.

1 unchanged paragraph

Level 2 - The Company s non-U.S. government fixed maturity investments consisted of securities issued by non-U.S. governments and their respective agencies as well as supranational organizations. Securities held in these sectors are primarily priced by pricing services that employ proprietary discounted cash flow models to value the securities. Key quantitative inputs for these models are daily observed benchmark curves for treasury, swap and high issuance credits. The pricing services then apply a credit spread for each security which is developed by in-depth and real time market analysis. For securities in which trade volume is low, the pricing services utilize data from more frequently traded securities with similar attributes. These models may also be supplemented by daily market and credit research for international markets.

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Level 1 - The fair value of the Company s portfolio of equity investments are primarily priced by pricing services, reflecting the closing price quoted for the final trading day of the period. When pricing these securities, the pricing services utilize daily data from many real time market sources, including applicable securities exchanges. All data sources are regularly reviewed for accuracy to attempt to ensure the most reliable price source was used for each security.

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Level 3 - During the first quarter of nine months ended September 30, 2026, the Company s assumed and ceded (re)insurance contracts accounted for at fair value expired and as a result, at June 30, 2026, future cash flows are expected to be immaterial. were fully settled. At December 31, 2025, the related net liability was not material. The fair value of these contracts had been determined through the use of an internal valuation model. The most significant unobservable inputs included the assumed and ceded expected net cash flows related to the contracts, including the expected premium, acquisition expenses and losses; the expected loss ratio and the relevant discount rate used to calculate the present value of the net cash flows.

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At June September 30, 2026 Fair Value

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Asset-backed $ 41,609 35,768 Discounted cash flow Discount rate 11.3 %

Direct private equity investments 23,625 24,562 Internal valuation model Discount rate 12.0 %

1 unchanged paragraph

Total assets and (liabilities) measured at fair value on a recurring basis using Level 3 inputs $ 65,234 60,330

15 unchanged paragraphs

Three months ended September 30, 2026 Corporate

1 unchanged paragraph

Balance - April 1, 2026 $ 144,696 $ 83,652 $ 24,296 $ $ 252,644

Balance - July 1, 2026 $ 219,697 $ 91,767 $ 23,625 $ $ 335,089

2 unchanged paragraphs

Net foreign exchange gains (losses)

Purchases 75,001 8,245 83,246

Settlements ( 905 ) ( 905 )

Balance - June 30, 2026 $ 219,697 $ 91,767 $ 23,625 $ $ 335,089

Purchases 27,250 52,271 500 80,021

Sales ( 367 ) ( 367 )

Settlements ( 6,868 ) ( 6,868 )

Balance - September 30, 2026 $ 246,947 $ 136,858 $ 24,562 $ $ 408,367

1 unchanged paragraph

Nine months ended September 30, 2026 Corporate

5 unchanged paragraphs

Purchases 105,441 50,888 156,329

Settlements ( 981 ) 17 ( 964 )

Balance - June 30, 2026 $ 219,697 $ 91,767 $ 23,625 $ $ 335,089

Purchases 132,691 103,159 500 236,350

Settlements ( 7,849 ) 17 ( 7,832 )

Balance - September 30, 2026 $ 246,947 $ 136,858 $ 24,562 $ $ 408,367

1 unchanged paragraph

Balance - April 1, 2025 $ $ 38,987 $ ( 234 ) $ 38,753

Three months ended September 30, 2025 Asset-backed Direct Private Equity Investments and (Liabilities) Total

Balance - July 1, 2025 $ 40,936 $ 35,308 $ ( 150 ) $ 76,094

3 unchanged paragraphs

Purchases 41,459 41,459

Settlements ( 523 ) ( 42 ) ( 565 )

Balance - June 30, 2025 $ 40,936 $ 35,308 $ ( 150 ) $ 76,094

Purchases 222 1,000 1,222

Settlements ( 3,313 ) ( 33 ) ( 3,346 )

Balance - September 30, 2025 $ 38,825 $ 32,512 $ ( 93 ) $ 71,244

1 unchanged paragraph

Nine months ended September 30, 2025 Asset-backed Direct Private Equity Investments Other Assets and (Liabilities) Total

4 unchanged paragraphs

Purchases 41,459 41,459

Settlements ( 523 ) ( 238 ) ( 761 )

Balance - June 30, 2025 $ 40,936 $ 35,308 $ ( 150 ) $ 76,094

Purchases 41,681 1,000 42,681

Settlements ( 3,836 ) ( 271 ) ( 4,107 )

Balance - September 30, 2025 $ 38,825 $ 32,512 $ ( 93 ) $ 71,244

2 unchanged paragraphs

The change in fair value of other investments resulted in net unrealized gains on investments for the three and six nine months ended June September 30, 2026 of $ 83.0 51.0 million and $ 0.9 51.9 million (June 30, (2025 - gains of $ 68.7 74.2 million and $ 19.8 94.0 million).

2 unchanged paragraphs

At June September 30, 2026 At December 31, 2025

1 unchanged paragraph

Private credit funds $ 1,531,757 1,597,821 $ 2,021,558 2,224,853 $ 1,445,158 $ 1,605,126

Private equity funds 793,136 634,527 788,907 702,079 701,837 661,159

6 unchanged paragraphs

2 unchanged paragraphs

and 1 more change in the filing

Note 5: REINSURANCE 39 changes

2 unchanged paragraphs

Direct $ 222,150 $ 230,764 $ 426,561 $ 474,420

Assumed 2,772,274 3,190,416 6,046,736 7,102,263

Ceded ( 717,464 ) ( 650,910 ) ( 1,518,041 ) ( 1,362,884 )

Net premiums written $ 2,276,960 $ 2,770,270 $ 4,955,256 $ 6,213,799

Direct $ 223,560 $ 246,999 $ 436,116 $ 498,893

Assumed 2,480,522 2,614,285 4,891,096 5,469,612

Ceded ( 504,561 ) ( 449,130 ) ( 944,077 ) ( 835,570 )

Net premiums earned $ 2,199,521 $ 2,412,154 $ 4,383,135 $ 5,132,935

Three months ended Six Nine months ended

Direct $ 227,761 $ 216,934 $ 654,322 $ 691,354

Assumed 1,876,247 2,106,692 7,922,983 9,208,955

Ceded ( 438,531 ) ( 265,824 ) ( 1,956,572 ) ( 1,628,708 )

Net premiums written $ 1,665,477 $ 2,057,802 $ 6,620,733 $ 8,271,601

Direct $ 224,449 $ 223,861 $ 660,565 $ 722,754

Assumed 2,436,296 2,674,658 7,327,392 8,144,270

Ceded ( 559,669 ) ( 464,714 ) ( 1,503,746 ) ( 1,300,284 )

Net premiums earned $ 2,101,076 $ 2,433,805 $ 6,484,211 $ 7,566,740

1 unchanged paragraph

Gross claims and claim expenses incurred $ 1,246,114 $ 1,067,108 $ 2,279,144 $ 4,171,950

Claims and claim expenses recovered ( 303,736 ) ( 24,985 ) ( 352,795 ) ( 386,069 )

Net claims and claim expenses incurred $ 942,378 $ 1,042,123 $ 1,926,349 $ 3,785,881

Gross claims and claim expenses incurred $ 1,269,332 $ 942,559 $ 3,548,476 $ 5,114,509

Claims and claim expenses recovered ( 242,840 ) ( 63,739 ) ( 595,635 ) ( 449,808 )

Net claims and claim expenses incurred $ 1,026,492 $ 878,820 $ 2,952,841 $ 4,664,701

2 unchanged paragraphs

At June September 30, 2026, the Company s premiums receivable balance was $ 8.3 7.5 billion (December 31, 2025 - $ 7.3 billion). Of the Company s premiums receivable balance as of June September 30, 2026, the majority are receivable from highly rated counterparties. The provision for current expected credit losses on the Company s premiums receivable was $ 2.0 2.1 million at June September 30, 2026 (December 31, 2025 - $ 3.2 million).

1 unchanged paragraph

Provision for (release of) allowance 526 ( 683 ) ( 43 ) ( 1,359 )

Ending balance $ 2,028 $ 3,272 $ 2,028 $ 3,272

Three months ended Six Nine months ended

Beginning balance $ 2,612 2,028 $ 3,955 3,272 $ 3,181 $ 4,631

Provision for (release of) allowance 71 63 28 ( 1,296 )

Charge-offs ( 1,110 ) ( 1,110 )

Ending balance $ 2,099 $ 3,335 $ 2,099 $ 3,335

2 unchanged paragraphs

At June September 30, 2026, the Company s reinsurance recoverable balance was $ 3.9 3.8 billion (December 31, 2025 - $ 3.9 billion). Of the Company s reinsurance recoverable balance at June September 30, 2026, 41.8 41.0 % is fully collateralized by the Company s reinsurers, 56.9 57.7 % is recoverable from reinsurers rated A- or higher by major rating agencies and 1.3 % is recoverable from reinsurers rated lower than A- by major rating agencies (December 31, 2025 - 46.9 %, 51.5 % and 1.6 %, respectively). The reinsurers with the three largest balances accounted for 12.8 13.2 %, 10.1 10.4 % and 5.9 5.8 %, respectively, of the Company s reinsurance recoverable balance at June September 30, 2026 (December 31, 2025 - 12.6 %, 10.1 % and 7.0 %, respectively).

The provision for current expected credit losses was $ 11.8 12.7 million at June September 30, 2026 (December 31, 2025 - $ 13.2 million). The three largest company-specific components of the provision for current expected credit losses represented 16.1 14.9 %, 14.5 11.0 % and 5.2 9.6 %, respectively, of the Company s total provision for current expected credit losses at June September 30, 2026 (December 31, 2025 - 20.4 %, 17.2 % and 4.8 %, respectively).

1 unchanged paragraph

Beginning balance $ 12,551 $ 10,823 $ 13,205 $ 11,730

Provision for (release of) allowance ( 711 ) ( 15 ) ( 1,365 ) ( 922 )

Three months ended Six Nine months ended

Ending Beginning balance $ 11,840 $ 10,808 $ 11,840 13,205 $ 10,808 11,730

Provision for (release of) allowance 880 2,180 ( 485 ) 1,258

Ending balance $ 12,720 $ 12,988 $ 12,720 $ 12,988

Note 6: RESERVE FOR CLAIMS AND CLAIM EXPENSES 38 changes

2 unchanged paragraphs

Property $ 1,618,503 $ 1,436,824 $ 1,972,558 $ 5,027,885

Casualty and Specialty 3,769,361 451,036 13,020,852 17,241,249

At June September 30, 2026 Case

Property $ 1,578,831 $ 1,216,667 $ 1,851,913 $ 4,647,411

Casualty and Specialty 3,800,390 341,878 13,504,516 17,646,784

3 unchanged paragraphs

Six Nine months ended June September 30, 2026 2025

2 unchanged paragraphs

Current year 2,287,789 4,251,465

Prior years ( 361,440 ) ( 465,584 )

Total net incurred 1,926,349 3,785,881

Current year 3,581,426 5,510,336

Prior years ( 628,585 ) ( 845,635 )

Total net incurred 2,952,841 4,664,701

1 unchanged paragraph

Current year 110,465 678,357

Prior years 1,784,294 1,598,704

Total net paid 1,894,759 2,277,061

Current year 202,872 763,095

Prior years 2,656,060 2,373,183

Total net paid 2,858,932 3,136,278

1 unchanged paragraph

Reserve for claims and claim expenses, net of reinsurance recoverable, end of period 18,405,648 18,612,790 18,465,933 18,627,767

6 unchanged paragraphs

Property $ ( 418,213 ) $ ( 453,634 )

Casualty and Specialty 56,773 ( 11,950 )

Six Nine months ended June September 30, 2026 2025

Property $ ( 683,245 ) $ ( 837,307 )

Casualty and Specialty 54,660 ( 8,328 )

1 unchanged paragraph

(1) In the six nine months ended June September 30, 2026, the total net (favorable) adverse development of prior accident years net claims and claim expenses included amortization of fair value adjustments of $ 14.7 22.1 million, principally related to the Validus Acquisition (June 30, (2025 - $ 20.6 30.9 million).

Changes to Net favorable development of prior year estimated net claims and claim expenses increased net income by $ 361.4 628.6 million during the six nine months ended June September 30, 2026 (June 30, (2025 - $ 465.6 845.6 million), excluding the consideration of changes in related reinstatement, adjustment or other premium changes, profit commissions, redeemable noncontrolling interests - DaVinci, Fontana and Vermeer and income tax.

1 unchanged paragraph

Six Nine months ended June September 30, 2026 2025

11 unchanged paragraphs

Total large catastrophe events ( 195,428 ) ( 174,839 )

Total large catastrophe events ( 358,411 ) ( 433,836 )

1 unchanged paragraph

Total catastrophe and attritional net claims and claim expenses ( 392,513 657,545 ) ( 420,534 804,207 )

1 unchanged paragraph

Total net (favorable) adverse development of prior accident years net claims and claim expenses $ ( 418,213 683,245 ) $ ( 453,634 837,307 )

9 unchanged paragraphs

(10) In the six nine months ended June September 30, 2026, total small catastrophe events and attritional loss movements included amortization of fair value adjustments of $ 3.7 5.5 million, principally related to the Validus Acquisition (June 30, (2025 - $ 5.2 7.7 million).

2 unchanged paragraphs

The net favorable development of prior accident years net claims and claim expenses on the large catastrophe events was primarily driven by better than expected loss emergence across the 2021 to 2023 2024 accident years.

3 unchanged paragraphs

Six Nine months ended June September 30, 2026 2025

2 unchanged paragraphs

Total net (favorable) adverse development of prior accident years net claims and claim expenses $ 56,773 54,660 $ ( 11,950 8,328 )

(1) In the six nine months ended June September 30, 2026, actuarial methods included amortization of fair value adjustments of $ 11.1 16.6 million, principally related to the Validus Acquisition (June 30, (2025 - $ 15.4 23.1 million).

1 unchanged paragraph

The net adverse development of prior accident years net claims and claim expenses during the six months ended June 30, 2026, was largely driven by adverse development related to actuarial assumption changes primarily principally impacting the general liability line of business, partially offset by net favorable development within the Company s other specialty and credit classes, mainly driven by reported losses coming in lower than expected on attritional net claims and claim expenses. Net adverse development also included $ 54.0 50.3 million from a shift of previously reported loss estimates for the Baltimore Bridge Collapse to Casualty and Specialty from the other property class.

The net favorable development of prior accident years net claims and claim expenses during the six months ended June 30, 2025 was primarily due to reported losses generally coming in lower than expected on attritional net claims and claim expenses. Net favorable development arose principally within the Company s other specialty, professional liability and credit classes, partially offset by adverse development in the general liability line of business.

Note 7: DEBT AND CREDIT FACILITIES 6 changes

At June September 30, 2026, there were no material changes to the Company s debt obligations and credit facilities as described in its Form 10-K for the year ended December 31, 2025, except as described below or otherwise disclosed.

The agreements governing the Company s debt obligations and credit facilities contain certain customary representations, warranties and covenants. At June September 30, 2026, the Company believes that it was in compliance with its debt covenants.

1 unchanged paragraph

At June September 30, 2026 At December 31, 2025

6 unchanged paragraphs

Total debt $ 2,371,330 2,277,091 $ 2,330,907 2,331,768 $ 2,409,992 $ 2,329,201

3 unchanged paragraphs

At June September 30, 2026 Issued or Drawn

2 unchanged paragraphs

(1) At June September 30, 2026, no amounts were issued or drawn under this facility.

Note 8: NONCONTROLLING INTERESTS 74 changes

1 unchanged paragraph

Redeemable noncontrolling interest - Medici

At June September 30, 2026 At December 31, 2025

Redeemable noncontrolling interest - DaVinci (1)

1 unchanged paragraph

Redeemable noncontrolling interest - Medici

2 unchanged paragraphs

(1) Represents the portion of DaVinci s total shareholders equity owned by third-party investors of $ 3.5 billion (December 31, 2025 - $ 3.7 billion), plus consolidation adjustments of $ 114.8 million ( December 31, 2025 - $ Nil ), of which $ 84.8 million reflects the cumulative effect at January 1, 2026.

1 unchanged paragraph

Three months ended Six Nine months ended

Redeemable noncontrolling interest - DaVinci (1)

Redeemable noncontrolling interest - Vermeer 51,434 70,981 167,916 21,326

1 unchanged paragraph

Redeemable noncontrolling interest - Vermeer 64,783 57,425 116,482 ( 49,655 )

1 unchanged paragraph

Net income (loss) attributable to redeemable noncontrolling interests (1)

Net income (loss) attributable to redeemable noncontrolling interests $ 150,700 $ 415,200 $ 688,411 $ 548,287 (1) Represents the portion of DaVinci s earnings owned by third-party investors, net of consolidation adjustments of $ 10.5 million and $ 30.0 million for the three and nine months ended September 30, 2026 (2025 - $ Nil and $ Nil ).

1 unchanged paragraph

DaVinciRe Holdings Ltd. ( DaVinci ) is a managed joint venture formed by RenaissanceRe principally to write property catastrophe reinsurance and certain casualty and specialty reinsurance lines of business on a global basis through its wholly-owned subsidiary, DaVinci Reinsurance Ltd. ( DaVinci Reinsurance ). DaVinci is considered a VIE as the voting rights of its equity holders are not proportional to their obligations to absorb losses and rights to receive residual returns. The Company is the primary beneficiary of DaVinci, as it has the power to direct the activities of DaVinci that most significantly impact its economic performance, and has the obligation to absorb losses and the right to receive benefits that could potentially be significant to DaVinci. Accordingly, the Company consolidates DaVinci and all significant intercompany transactions have been eliminated. The portion of DaVinci s earnings owned by third parties is recorded in the consolidated statements of operations as net income (loss) attributable to redeemable noncontrolling interests, net of consolidation adjustments.

1 unchanged paragraph

During the six nine months ended June September 30, 2026, DaVinci repurchased $ 750.0 million of its shares, including $ 182.5 million from the Company. In addition, RenaissanceRe purchased an aggregate of $ 81.3 million of shares from third-party investors.

The timing of cash flows associated with equity capital transactions can vary from one period to the next. During the six nine months ended June September 30, 2026, RenaissanceRe received no cash inflows from subscriptions of shares in DaVinci by third-party investors, and paid $ 660.4 648.8 million as a result of distributions to and redemptions of shares from third-party investors.

At June September 30, 2026, DaVinci s standalone consolidated balance sheet included total assets and total liabilities of $ 7.5 7.2 billion and $ 2.9 2.5 billion, respectively (December 31, 2025 - $ 7.2 billion and $ 2.3 billion, respectively). The total assets included $ 5.9 6.0 billion of investments and $ 1.6 1.2 billion of all other aggregated assets (December 31, 2025 - $ 6.2 billion and $ 978.5 million, respectively). The total liabilities included $ 1.3 1.2 billion of reserve for claims and claim expenses, $ 297.1 297.2 million of debt and $ 1.4 1.0 billion of all other aggregated liabilities (December 31, 2025 - $ 1.5 billion, $ 297.0 million and $ 554.8 million, respectively). The Company s noncontrolling economic ownership in DaVinci was 26.3 % at June September 30, 2026 (December 31, 2025 - 24.3 %).

During the six nine months ended June September 30, 2025, RenaissanceRe sold an aggregate of $ 69.7 million of its shares in DaVinci to third-party investors and purchased an aggregate of $ 26.9 million of shares from third-party investors.

During the six nine months ended June September 30, 2025, RenaissanceRe received no cash inflows from subscriptions of shares in DaVinci by third-party investors, and paid $ 26.9 million as a result of redemptions of shares from third-party investors.

2 unchanged paragraphs

Three months ended Six Nine months ended

Beginning balance $ 3,291,360 3,496,477 $ 2,992,338 3,210,791 $ 3,701,637 $ 3,061,708

Redemption of shares from redeemable noncontrolling interests, interest, net of adjustments ( 649,164 ) ( 26,929 )

Sale of shares to redeemable noncontrolling interests, interest, net of adjustments 70,000

1 unchanged paragraph

Ending balance $ 3,496,477 $ 3,210,791 $ 3,496,477 $ 3,210,791

Redeemable Noncontrolling Interest - Medici

Medici is an exempted company, incorporated in Bermuda and registered as an institutional fund. Medici invests, primarily on behalf of third-party investors, in various instruments that have returns primarily tied to property catastrophe risk. Medici is considered a VIE as the voting rights of its equity holders are not proportional to their obligations to absorb losses and rights to receive residual returns. The Company is the primary beneficiary of Medici, as it has the power to direct the activities of Medici that most significantly impact its economic performance, and has the obligation to absorb losses and the right to receive benefits that could potentially be significant to Medici. Accordingly, the Company consolidates Medici and all significant intercompany transactions have been eliminated. The portion of Medici s earnings owned by third parties is recorded in the consolidated statements of operations as net income (loss) attributable to redeemable noncontrolling interests. Any shareholder may redeem all or any portion of its shares as of the last day of any calendar month, upon at least 30 calendar days prior irrevocable written notice to Medici. RenaissanceRe, Medici and RenaissanceRe Fund Management Ltd. ( RFM ) are parties to a revolving credit facility pursuant to which RenaissanceRe provides for a revolving commitment to Medici of up to $ 75.0 million. The Company has not provided any other financial or other support to Medici that it was not contractually required to provide.

During the six months ended June 30, 2026, investors subscribed for $ 196.0 million of the participating, non-voting common shares of Medici, including $ 150.0 million from the Company. In addition, investors redeemed $ 45.9 million of the participating, non-voting common shares of Medici.

The timing of cash flows associated with equity capital transactions can vary from one period to the next. During the six months ended June 30, 2026, RenaissanceRe received cash inflows of $ 4.5 million from subscriptions of shares in Medici by third-party investors and paid $ 75.7 million as a result of redemptions of shares from third-party investors.

At June 30, 2026, Medici s standalone balance sheet included total assets and total liabilities of $ 1.9 billion and $ 88.6 million, respectively (December 31, 2025 - $ 1.7 billion and $ 133.2 million, respectively). The total assets included $ 1.8 billion of investments and $ 16.9 million of all other aggregated assets (December 31, 2025 - $ 1.7 billion and $ 23.3 million, respectively). The total liabilities included $ 88.6 million of all other aggregated liabilities (December 31, 2025 - $ 133.2 million). The Company s noncontrolling economic ownership in Medici was 18.9 % at June 30, 2026 (December 31, 2025 - 11.3 %).

During the six months ended June 30, 2025, investors subscribed for $ 192.9 million of the participating, non-voting common shares of Medici, including $ 50.1 million from the Company. In addition, investors redeemed $ 495.5 million of the participating, non-voting common shares of Medici, including $ 200.0 million from the Company. Of the total redemption of $ 495.5 million, $ 316.5 million was immediately reinvested in Medici UCITS, including $ 140.0 million from the Company. Third party investors also received $ 15.3 million in dividends.

During the six months ended June 30, 2025, RenaissanceRe received cash inflows of $ 103.8 million from subscriptions of shares in Medici by third-party investors, and paid $ 359.6 million as a result of redemptions of shares from and dividends to third-party investors.

The Company expects its noncontrolling economic ownership in Medici to fluctuate over time.

The activity in redeemable noncontrolling interest Medici is detailed in the table below:

Three months ended Six months ended

Beginning balance $ 1,433,068 $ 1,469,402 $ 1,398,166 $ 1,646,745

Redemption of shares from redeemable noncontrolling interests, net of adjustments ( 15,031 ) ( 56,734 ) ( 45,936 ) ( 295,529 )

Sale of shares to redeemable noncontrolling interests

Net income (loss) attributable to redeemable noncontrolling interest 26,313 38,993 46,120 54,156 ( 15,314 )

Ending balance $ 1,444,350 $ 1,532,990 $ 1,444,350 $ 1,532,990

Ending balance $ 3,572,046 $ 3,454,255 $ 3,572,046 $ 3,454,255

2 unchanged paragraphs

During the six nine months ended June September 30, 2026, there were no subscriptions for participating, non-voting common shares of Vermeer. In addition, there were $ 150.0 million dividends declared and paid to PFZW.

At June September 30, 2026, Vermeer s standalone balance sheet included total assets and total liabilities of $ 2.2 2.4 billion and $ 349.4 423.0 million, respectively (December 31, 2025 - $ 2.3 billion and $ 411.4 million, respectively). The total assets included $ 2.0 billion of investments and $ 285.0 363.6 million of all other aggregated assets (December 31, 2025 - $ 2.0 billion and $ 332.7 million, respectively). The total liabilities included $ 73.6 63.7 million of reserve for claims and claim expenses and $ 275.8 359.3 million of all other aggregated liabilities (December 31, 2025 - $ 91.2 million and $ 320.2 million, respectively).

During the six nine months ended June September 30, 2025, there were no subscriptions for participating, non-voting common shares of Vermeer. In addition, there were no dividends declared or paid to PFZW.

2 unchanged paragraphs

Beginning balance $ 1,824,130 $ 1,692,777 $ 1,922,431 $ 1,799,857 ( 150,000 )

Three months ended Six Nine months ended

Ending Beginning balance $ 1,888,913 $ 1,750,202 $ 1,888,913 1,922,431 $ 1,750,202 1,799,857

Dividends on common shares ( 150,000 )

Net income (loss) attributable to redeemable noncontrolling interest 64,783 57,425 116,482 ( 49,655 ) 51,434 70,981 167,916 21,326

Ending balance $ 1,940,347 $ 1,821,183 $ 1,940,347 $ 1,821,183

Redeemable Noncontrolling Interest Medici

Medici is an exempted company, incorporated in Bermuda and registered as an institutional fund. Medici invests, primarily on behalf of third-party investors, in various instruments that have returns primarily tied to property catastrophe risk. Medici is considered a VIE as the voting rights of its equity holders are not proportional to their obligations to absorb losses and rights to receive residual returns. The Company is the primary beneficiary of Medici, as it has the power to direct the activities of Medici that most significantly impact its economic performance, and has the obligation to absorb losses and the right to receive benefits that could potentially be significant to Medici. Accordingly, the Company consolidates Medici and all significant intercompany transactions have been eliminated. The portion of Medici s earnings owned by third parties is recorded in the consolidated statements of operations as net income (loss) attributable to redeemable noncontrolling interests. Any shareholder may redeem all or any portion of its shares as of the last day of any calendar month, upon at least 30 calendar days prior irrevocable written notice to Medici. RenaissanceRe, Medici and RenaissanceRe Fund Management Ltd. ( RFM ) are parties to a revolving credit facility pursuant to which RenaissanceRe provides for a revolving commitment to Medici of up to $ 75.0 million. The Company has not provided any other financial or other support to Medici that it was not contractually required to provide.

During the nine months ended September 30, 2026, investors subscribed for $ 198.6 million of the participating, non-voting common shares of Medici, including $ 150.0 million from the Company. In addition, investors redeemed $ 197.3 million of the participating, non-voting common shares of Medici, including $ 150.0 million from the Company.

The timing of cash flows associated with equity capital transactions can vary from one period to the next. During the nine months ended September 30, 2026, RenaissanceRe received cash inflows of $ 10.6 million from subscriptions of shares in Medici by third-party investors and paid $ 77.1 million as a result of redemptions of shares from third-party investors.

At September 30, 2026, Medici s standalone balance sheet included total assets and total liabilities of $ 1.7 billion and $ 10.8 million, respectively (December 31, 2025 - $ 1.7 billion and $ 133.2 million, respectively). The total assets included $ 1.7 billion of investments and $ 22.7 million of all other aggregated assets (December 31, 2025 - $ 1.7 billion and $ 23.3 million, respectively). The total liabilities included $ 10.8 million of all other aggregated liabilities (December 31, 2025 - $ 133.2 million). The Company s noncontrolling economic ownership in Medici was 11.6 % at September 30, 2026 (December 31, 2025 - 11.3 %).

During the nine months ended September 30, 2025, investors subscribed for $ 210.8 million of the participating, non-voting common shares of Medici, including $ 50.2 million from the Company. In addition, investors redeemed $ 502.7 million of the participating, non-voting common shares of Medici, including $ 200.0 million from the Company. Of the total redemption of $ 502.7 million, $ 316.5 million was immediately reinvested in Medici UCITS, including $ 140.0 million from the Company. Third-party investors also received $ 15.3 million in dividends.

During the nine months ended September 30, 2025, RenaissanceRe received cash inflows of $ 121.6 million from subscriptions of shares in Medici by third-party investors, and paid $ 367.7 million as a result of redemptions of shares from and dividends to third-party investors.

The Company expects its noncontrolling economic ownership in Medici to fluctuate over time.

The activity in redeemable noncontrolling interest Medici is detailed in the table below:

Three months ended Nine months ended

Beginning balance $ 1,444,350 $ 1,532,990 $ 1,398,166 $ 1,646,745

Redemption of shares from redeemable noncontrolling interest, net of adjustments ( 1,338 ) ( 7,143 ) ( 47,274 ) ( 302,672 )

Sale of shares to redeemable noncontrolling interest 2,600 17,895 48,600 160,827

Net income (loss) attributable to redeemable noncontrolling interest 67,021 79,573 113,141 133,729 ( 15,314 )

Ending balance $ 1,512,633 $ 1,623,315 $ 1,512,633 $ 1,623,315

2 unchanged paragraphs

During the six nine months ended June September 30, 2026, Fontana returned $ 100.0 million of its limited partner interest, including $ 38.4 million to the Company. In addition, RenaissanceRe purchased an aggregate of $ 79.3 million of its limited partner interest in Fontana from third-party investors.

The timing of cash flows associated with equity capital transactions can vary from one period to the next. During the six nine months ended June September 30, 2026, RenaissanceRe received no cash inflows from subscriptions for the limited partner interest of Fontana by third-party investors, and paid $ 79.3 140.9 million as a result of distributions to and redemptions of the limited partner interest from third-party investors.

At June September 30, 2026, Fontana s standalone consolidated balance sheet included total assets and total liabilities of $ 3.1 billion and $ 2.3 2.4 billion, respectively (December 31, 2025 - $ 2.9 billion and $ 2.1 billion, respectively). The total assets included $ 2.2 billion of investments and $ 880.0 865.2 million of all other aggregated assets (December 31, 2025 - $ 2.0 billion and $ 889.0 million, respectively). The total liabilities included $ 1.5 1.6 billion of reserve for claims and claim expenses, $ 99.3 million of debt and $ 650.2 660.7 million of all other aggregated liabilities (December 31, 2025 - $ 1.4 billion, $ 99.2 million and $ 620.6 million, respectively). As a result of these transactions, The Company s noncontrolling economic ownership in Fontana was 38.4 % at June September 30, 2026 (December 31, 2025 - 28.7 %).

During the six nine months ended June September 30, 2025, investors subscribed for $ 100.0 million of the limited partner interest of Fontana, including $ 70.8 million from the Company. In addition, RenaissanceRe sold an aggregate of $ 100.0 million of its limited partner interest in Fontana to third-party investors and purchased an aggregate of $ 72.0 million of its limited partner interest in Fontana from third-party investors.

During the six nine months ended June September 30, 2025, RenaissanceRe received no cash inflows from subscriptions for the limited partner interest of Fontana by third-party investors, and paid $ 72.0 million as a result of redemptions of the limited partner interest from third-party investors.

2 unchanged paragraphs

Beginning balance $ 494,566 $ 535,656 $ 579,858 $ 469,439

Three months ended Six Nine months ended

Beginning balance $ 513,613 $ 549,124 $ 579,858 $ 469,439

Redemption of limited partner interest from redeemable noncontrolling interest ( 79,337 61,555 ) ( 140,892 ) ( 72,044 )

1 unchanged paragraph

Ending balance $ 513,613 $ 549,124 $ 513,613 $ 549,124

Net income (loss) attributable to redeemable noncontrolling interest 19,047 13,468 13,092 22,574 ( 43,324 ) 21,182 ( 30,232 ) 43,756

Ending balance $ 408,734 $ 570,306 $ 408,734 $ 570,306

Note 9: VARIABLE INTEREST ENTITIES 27 changes

1 unchanged paragraph

The Company has interests in various managed joint ventures and managed funds that are considered VIEs. The Company consolidates the results of DaVinci, Fontana, Medici Vermeer and Fontana, Vermeer, as the Company is deemed to be the primary beneficiary of each of those entities. Refer to Note 8. Noncontrolling Interests for additional information on those entities. The Company also consolidates Upsilon RFO Diversified I, II and III, which are segregated accounts of Upsilon RFO Re Ltd. ( Upsilon RFO ), as the Company is deemed to be the primary beneficiary, as detailed below. The assets of DaVinci, Fontana, Medici, Vermeer, Fontana and Upsilon RFO Diversified I, II and III can only be used to settle their respective obligations. The liabilities of each of those entities are non recourse to the Company, and creditors do not have recourse to the general credit of the Company.

1 unchanged paragraph

Upsilon RFO is an exempted company incorporated in Bermuda. It is registered as a segregated accounts company and as a collateralized insurer, Upsilon RFO currently has four segregated accounts (Upsilon RFO Diversified I, II, III and IV). RenaissanceRe indirectly owns a portion of the participating non-voting preference shares of three of the existing segregated accounts of Upsilon RFO (Upsilon RFO Diversified I, II and III) and all of Upsilon RFO s voting Class A shares. The shareholders (other than the voting Class A shareholders) participate in all of the profits or losses of Upsilon RFO while their shares remain outstanding. The shareholders (other than the voting Class A shareholders) indemnify Upsilon RFO against losses relating to insurance risk, and therefore these shares have been accounted for as prospective reinsurance under FASB ASC Topic 944, Financial Services - Insurance .

II and III) and all of Upsilon RFO s voting Class A shares. The shareholders (other than the voting Class A shareholders) participate in all of the profits or losses of Upsilon RFO while their shares remain outstanding. The shareholders (other than the voting Class A shareholders) indemnify Upsilon RFO against losses relating to insurance risk, and therefore these shares have been accounted for as prospective reinsurance under FASB ASC Topic 944, Financial Services - Insurance .

3 unchanged paragraphs

NOC1 is a segregated account of Upsilon Fund formed in 2023, that provides a fund structure through which investors can invest in a portfolio of insurance-linked securities, principally catastrophe bonds. NOC1 is considered a VIE as the voting rights of its equity holders are not proportional to their obligations to absorb losses and rights to receive residual returns. The Company is not the primary beneficiary of NOC1, as it does not have the obligation to absorb losses and the right to receive benefits that could potentially be significant to NOC1. Accordingly, the Company does not consolidate the financial position or results of operations of NOC1. The Company does not have, and does not expect to have, a material investment in NOC1 and expects its absolute and relative ownership in NOC1 to remain minimal. During the three months ended June 30, 2026, $ 196.6 million of capital was distributed to investors, including $ 2.0 million to the Company, following a full redemption of NOC1. Other than its prior equity investment in NOC1, the Company has not provided financial or other support to NOC1 that it was not contractually required to provide.

Stratos is a segregated account of Upsilon Fund formed in 2025, that provides a fund structure through which investors can invest in a portfolio of insurance-linked securities, principally catastrophe bonds.

At June 30, 2026, the total assets and total liabilities of Stratos were $ 272.5 million and $ 1.4 million, respectively (December 31, 2025 - $ 261.9 million and $ 0.2 million, respectively).

During the six nine months ended June September 30, 2026, and following the release of collateral that was previously held by cedants associated with prior underwriting years contracts, Upsilon RFO returned $ 18.5 234.9 million of capital to investors of Upsilon RFO Diversified I, II and III, including $ 2.0 30.5 million to the Company and returned $ 19.1 23.6 million to investors of Upsilon RFO Diversified IV.

At June September 30, 2026, Upsilon RFO s balance sheet included total assets and total liabilities of Diversified I, II and III of $ 578.6 462.2 million and $ 577.7 461.3 million, respectively (December 31, 2025 - $ 653.0 million and $ 652.1 million, respectively). The total assets included $ 496.2 391.0 million of investments and $ 82.3 71.2 million of all other aggregated assets (December 31, 2025 - $ 526.8 million and $ 126.2 million, respectively). The total liabilities included $ 257.9 239.5 million of reserve for claims and claim expenses and $ 319.8 221.9 million of all other aggregated liabilities (December 31, 2025 - $ 305.8 million and $ 346.3 million, respectively). Of the total assets and liabilities of Upsilon RFO Diversified I, II and III, a net amount of $ 34.4 7.1 million (December 31, 2025 - $ 32.7 million) is attributable to the Company, and $ 286.1 115.4 million (December 31, 2025 - $ 264.8 million) is attributable to third-party investors. Of the total assets and liabilities of Upsilon RFO Diversified IV, a net amount of $ 100.8 101.0 million (December 31, 2025 - $ 101.8 million) is attributable to third-party investors. At June September 30, 2026, the Company s participation in the risks assumed by Upsilon RFO Diversified I, II and III was 13.0 12.3 % (December 31, 2025 - 12.7 %).

3 unchanged paragraphs

1 unchanged paragraph

and 19 more changes in the filing

Note 10: SHAREHOLDERS EQUITY 5 changes

2 unchanged paragraphs

and 5 more changes in the filing

Note 11: EARNINGS PER SHARE 8 changes

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

and 8 more changes in the filing

Note 12: SEGMENT REPORTING 154 changes

3 unchanged paragraphs

and 154 more changes in the filing

Note 13: DERIVATIVE INSTRUMENTS 54 changes

1 unchanged paragraph

2 unchanged paragraphs

2 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

2 unchanged paragraphs

34 unchanged paragraphs

2 unchanged paragraphs

5 unchanged paragraphs

1 unchanged paragraph

10 unchanged paragraphs

2 unchanged paragraphs

4 unchanged paragraphs

3 unchanged paragraphs

11 unchanged paragraphs

16 unchanged paragraphs

and 54 more changes in the filing

Legal proceedings 1 change

2 unchanged paragraphs

and 1 more change in the filing

MD&A 733 changes

5 unchanged paragraphs

23 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

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2 unchanged paragraphs

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1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

4 unchanged paragraphs

6 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

4 unchanged paragraphs

5 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

3 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

15 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

4 unchanged paragraphs

1 unchanged paragraph

4 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

6 unchanged paragraphs

2 unchanged paragraphs

5 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

2 unchanged paragraphs

7 unchanged paragraphs

4 unchanged paragraphs

16 unchanged paragraphs

5 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

6 unchanged paragraphs

2 unchanged paragraphs

5 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

and 733 more changes in the filing

Market risk 1 change

1 unchanged paragraph

and 1 more change in the filing

Controls and procedures 2 changes

1 unchanged paragraph

1 unchanged paragraph

and 2 more changes in the filing

Unregistered sales of stock 10 changes

2 unchanged paragraphs

and 10 more changes in the filing

Other information 8 changes

and 8 more changes in the filing