RENAISSANCERE HOLDINGS LTD

The table below shows our invested assets:

We structure our investment portfolio to emphasize the preservation of capital and the availability of liquidity to meet our claims obligations, to be well diversified across market sectors, and to generate relatively attractive returns on a risk-adjusted basis over time. Notwithstanding the foregoing, our investments are subject to market-wide risks and fluctuations, as well as to risks inherent in particular securities. Refer to “Note 3. Investments” and “Note 4. Fair Value Measurements” in our “Notes to the Consolidated Financial Statements” for additional information regarding our investments and the related fair value measurement.

As the reinsurance coverages we sell include substantial protection for damages resulting from natural and man-made catastrophes, as well as for potentially large casualty and specialty exposures, we expect, from time to time, to become liable for substantial claim payments on short notice. Accordingly, our investment portfolio as a whole is structured to seek to preserve capital and provide a high level of liquidity, which means that the large majority of our investments are highly rated fixed income securities, including U.S. treasuries, agencies, highly rated sovereign and supranational securities, high-grade corporate securities and mortgage-backed and asset-backed securities. We also have an allocation to publicly traded equities and exchange‑traded funds, which are reflected on our consolidated balance sheet as equity investments, and an allocation to other investments (including catastrophe bonds, fund investments and direct private equity investments).

Fixed Maturity Investments and Short Term Investments

At June 30, 2026, our fixed maturity investments and short term investment portfolio had a weighted average credit quality rating of AA (December 31, 2025 - AA) and a weighted average effective yield of 4.6% (December 31, 2025 - 4.2%). At June 30, 2026, our non-investment grade and not-rated fixed maturity investments totaled $1.0 billion or 3.9% of our fixed maturity investments (December 31, 2025 - $1.2 billion or 5.0%, respectively). In addition, within our other investments category we have funds that invest in non-investment grade and not-rated fixed income securities and non-investment grade cat-linked securities. At

June 30, 2026, the funds that invest in non-investment grade and not-rated fixed income securities and non-investment grade cat-linked securities totaled $3.5 billion (December 31, 2025 - $3.2 billion).

At June 30, 2026, we had $3.9 billion of short term investments (December 31, 2025 - $4.8 billion). Short term investments are managed as part of our investment portfolio and have a maturity of one year or less when purchased. Short term investments are carried at fair value.

The duration of our fixed maturity investments and short term investments at June 30, 2026 was 3.4 years (December 31, 2025 - 2.8 years). From time to time, we may reevaluate the duration of our portfolio in light of the duration of our liabilities and market conditions.

The value of our fixed maturity investments will fluctuate with changes in the interest rate environment and when changes occur in economic conditions or the investment markets. Additionally, our differing asset classes expose us to other risks which could cause a reduction in the value of our investments.

The following table summarizes the fair value of equity investments:

Our equity investments include fixed income exchange traded funds, equity exchange traded funds and common stocks. Our fixed income exchange traded funds invest in a combination of treasuries, corporate bonds or asset-backed and mortgage-backed fixed maturity investments. The value of our fixed income exchange traded funds will fluctuate with changes in the interest rate environment, credit risk and when changes occur in economic conditions or the investment markets. Equity exchange traded funds are primarily focused on public equities.

Common stocks are managed pursuant to diversified public equity securities mandates with third-party investment managers and also includes more concentrated public equity positions that we invest in through our strategic investment portfolio. These investments are subject to a variety of risks including: company performance, the availability of strategic investment opportunities, and macro-economic, industry, and systemic risks of the equity markets overall. Consequently, the carrying value of our investment portfolio will vary over time as the value or size of our portfolio of investments in equity securities fluctuates. It is possible we will increase our equity allocation in the future, and it could, from time to time, have a material effect on our financial results.

The table below shows our portfolio of other investments:

Refer to “Note 3. Investments” in our “Notes to the Consolidated Financial Statements” for additional information regarding our portfolio of other investments.