Renaissance Reinsurance Ltd., Davinci Reinsurance Ltd., Renaissance Reinsurance U.S. Inc., Renaissancere Europe Ag, Renaissancere Specialty U.S. Ltd. and Renaissancere Holdings Ltd. and Wells Fargo Bank, National Association Enters into the Fourth Amendment to the Amended and Restated Standby Letter of Credit Agreement
December 13, 2023 at 04:22 pm EST
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On December 12, 2023, Renaissance Reinsurance Ltd., DaVinci Reinsurance Ltd., Renaissance Reinsurance U.S. Inc., RenaissanceRe Europe AG, RenaissanceRe Specialty U.S. Ltd. (collectively, the ?Applicants?) and RenaissanceRe Holdings Ltd. (the ?Guarantor? and together with the Applicants, collectively, the ?Credit Parties?), and Wells Fargo Bank, National Association (?Wells Fargo?) entered into the Fourth Amendment (the ?Amendment?) to the Amended and Restated Standby Letter of Credit Agreement, dated as of June 21, 2019, as amended, amending the existing uncommitted facility under which letters of credit may be issued from time to time for the respective accounts of the Applicants. The Amendment provides for an increase in the amount of secured letters of credit that the Applicants may request from an aggregate amount of $150.0 million to $200.0 million.
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance. The Company provides property, casualty and specialty reinsurance and certain insurance solutions to customers, principally through intermediaries. The Company has two segments. The Property segment is comprised of catastrophe and other property reinsurance and insurance written on behalf of its operating subsidiaries, joint ventures, and managed funds. The Casualty and Specialty segment is comprised of casualty and specialty reinsurance and insurance written on behalf of its operating subsidiaries, joint ventures, and managed funds. The Company writes catastrophe reinsurance and insurance coverage protecting against natural and man-made catastrophes, such as earthquakes, hurricanes, typhoons and tsunamis, winter storms, freezes, floods, fires, windstorms, tornadoes, explosions and acts of terrorism, among others. Its subsidiaries include Renaissance Reinsurance Ltd., Validus Reinsurance Ltd. and others.
Renaissance Reinsurance Ltd., Davinci Reinsurance Ltd., Renaissance Reinsurance U.S. Inc., Renaissancere Europe Ag, Renaissancere Specialty U.S. Ltd. and Renaissancere Holdings Ltd. and Wells Fargo Bank, National Association Enters into the Fourth Amendment to the Amended and Restated Standby Letter of Credit Agreement