Item 1.01 Entry into a Material Definitive Agreement.

Effective December 31, 2020, Citibank Europe plc ("CEP"), Renaissance Reinsurance Ltd. ("RRL"), DaVinci Reinsurance Ltd. ("DaVinci"), RenaissanceRe Specialty U.S. Ltd. ("RRS"), Renaissance Reinsurance of Europe Unlimited Company ("ROE"), Renaissance Reinsurance U.S. Inc. ("RRUS") and RenaissanceRe Europe AG ("RREAG") (each of RRL, DaVinci, RRS, ROE, RRUS and RREAG a "Company" and, collectively, the "Companies") entered into a deed of amendment (the "Amendment") to the existing secured letter of credit facility (the "Facility") provided pursuant to the facility letter, by and among CEP and the Companies, dated September 17, 2010 (the "Original Facility Letter") and amended July 14, 2011, October 1, 2013, December 23, 2014, March 31, 2015, December 30, 2015, January 14, 2016, December 31, 2016, December 29, 2017, December 31, 2018, June 24, 2019 and December 31, 2019, to extend the termination date of the Facility from December 31, 2021 to December 31, 2022 (as so amended, the "Facility Letter").

The Facility provides a commitment from CEP to issue letters of credit for the account of one or more of the Companies and their respective subsidiaries in multiple currencies and in an aggregate amount of up to $300 million, subject to a sublimit of $25 million for letters of credit issued for the account of RRUS. The Facility is evidenced by the Facility Letter and six separate Master Agreements between CEP and each of the Companies, as well as certain ancillary agreements, the terms of which are substantially similar for each Company.

Under the Facility, each of the Companies is severally obligated to pledge to CEP at all times during the term of the Facility certain securities with a collateral value (as determined as therein provided) that equals or exceeds 100% of the aggregate amount of its then-outstanding letters of credit. In the case of an event of default under the Facility with respect to a Company, CEP may exercise certain remedies with respect to such Company, including terminating its commitment to such Company under the Facility and taking certain actions with respect to the collateral pledged by such Company (including the sale thereof). In the Facility Letter, each Company makes, as to itself, representations and warranties that are customary for facilities of this type and severally agrees that it will comply with certain informational and other undertakings, including those regarding the delivery of quarterly and annual financial statements.

CEP and its affiliates have performed commercial banking, investment banking and advisory services for the Companies and their affiliates from time to time for which they have received customary fees and reimbursement of expenses. CEP and its affiliates may from time to time engage in transactions with and perform services for the Companies and their affiliates in the ordinary course of their business for which they may receive customary fees and reimbursement of expenses.

The description of the Amendment and Facility contained herein are qualified in their entirety by reference to the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference, and the Original Facility Letter and other amendments comprising the Facility Letter, copies of which were previously filed with Securities and Exchange Commission.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of the Registrant.

The disclosure set forth in Item 1.01 above is hereby incorporated by reference.

--------------------------------------------------------------------------------

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.
Exhibit #             Description
10.1                    Deed of Amendment to Facility Letter, dated December 31, 2020, by and
                      among Citibank Europe plc, Renaissance Reinsurance Ltd., DaVinci
                      Reinsurance Ltd., Renaissance Reinsurance of Europe, RenaissanceRe
                      Specialty U.S. Ltd., Renaissance Reinsurance U.S. Inc. and RenaissanceRe
                      Europe AG.

101                   Pursuant to Rule 406 of Regulation S-T, the cover page information in
                      formatted in Inline XBRL

104                   Cover Page Interactive Data File (embedded within the Inline XBRL document
                      and included in Exhibit 101)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses