EX-10.1






EXHIBIT 10.1




FROM: Citibank Europe plc (the “Bank”)




	 	 	TO: Renaissance Reinsurance Ltd., DaVinci Reinsurance Ltd. and RenaissanceRe Specialty Risks
Ltd. (the “Original Companies”) and RenaissanceRe Specialty U.S. Ltd., Renaissance Reinsurance
of Europe, Platinum Underwriters Bermuda, Ltd. and Renaissance Reinsurance U.S. Inc. (formerly
Platinum Underwriters Reinsurance, Inc.) (the “Additional Companies” and, together with the
Original Companies, the “Companies”)





DATE: 30th December, 2015



Ladies and Gentlemen,



The Facility Letter dated 17 September 2010 between (1) the Bank and (2) the Companies regarding a
committed letter of credit issuance facility in a maximum aggregate amount of USD 300,000,000, as
amended by Letter Amendment dated 14th July 2011, 1st October, 2013,
23rd December 2014 and 31st March 2015 and as may be further amended, varied,
supplemented, novated or assigned from time to time (the “Facility Letter”).




	1.	 	We refer to the Facility Letter. Capitalised terms used in this letter shall have the
meanings given to them in the Facility Letter (including where defined in the Facility Letter
by reference to another document).






	2.	 	The following amendments shall take effect on and from the date that the Bank receives this
letter duly executed by the Companies (“Effective Date”).






	3.	 	The Bank and the Companies agree, for good and valuable consideration, the receipt and legal
sufficiency of which are hereby acknowledged, that as effective from the date of this letter:






	 	(i)	 	Clause 1.1 of the Facility Letter shall be amended and restated in its entirety
as follows:






	 	 	 	“Further to recent conversations, Citibank Europe plc (the “Bank”) is pleased to
provide a committed letter of credit issuance facility (the “Facility”) up until
31 December 2017 (the “Termination Date”) to the Companies subject to the terms
and conditions set out in this Letter. Unless otherwise defined herein,
capitalised terms used in this Letter are as defined in Clause 14.”






	 	(ii)	 	Clause 2.1 of the Facility Letter shall be amended and restated in its entirety as
follows:






“The Facility shall be in a maximum aggregate amount of USD 300,000,000 (or the
equivalent in the applicable currency) (the “Facility Limit”). The maximum aggregate
amount of letters of credit that may be issued on behalf of any one Company shall be
equal to the Facility Limit; provided however, that in no event shall (i) the
aggregate amount of letters of credit issued on behalf of RenaissanceRe Specialty
U.S. Ltd. exceed USD 60,000,000 (or the equivalent in the applicable currency); (ii)
the aggregate amount of letters of credit issued on behalf of Platinum Underwriters
Bermuda, Ltd. and Renaissance Reinsurance U.S. Inc. (formerly Platinum Underwriters
Reinsurance, Inc.) collectively exceed USD 25,000,000 (or the equivalent in the
applicable currency) and (iii) the maximum aggregate amount of letters of credit that
may be issued on behalf of all Companies collectively exceed the Facility Limit.”




	4.	 	Except as expressly amended by this letter, the Facility Letter remains unmodified and in
full force and effect. In the event of a conflict or inconsistency between the terms of this
letter and the terms of the Facility letter, the terms of this letter shall prevail.






	5.	 	The provisions contained in clause 6, Interest, and clause 7, Fees, in the Facility Letter
shall apply in relation to the amendments agreed pursuant to the terms of this letter. Each
party to this letter shall bear its own costs and expenses in relation to the amendments
agreed pursuant to the terms of this letter.






	6.	 	On the date of this letter and on the Effective Date, each Original Company, as to itself,
hereby confirms to the Bank that the representations and warranties set forth in clause 8 of
the Facility Letter are true.






	7.	 	With effect from the Effective Date of this letter, the terms and conditions of the Facility
Letter shall be read and construed by reference to this letter and all references to the
Facility Letter shall be deemed to incorporate the relevant amendments contained within this
letter.






	8.	 	This letter may be executed in counterparts, each of which shall be deemed to be an original,
and all such counterparts taken together shall constitute one and the same agreement. This
letter and any non-contractual obligations arising in connection with it shall be governed by
English law and the provisions of Clause 16 (Governing Law) of the Facility Letter shall be
incorporated, with any necessary changes, as if set out in full in this letter. No person
shall have any right to enforce any provision of this letter under the Contracts (Rights of
Third Parties) Act 1999.






	9.	 	Please indicate your agreement to the foregoing by countersigning the attached copy of this
letter and returning the same to us.





[signature page follows]




For and of behalf of


Citibank Europe plc



 /s/ Niall Tuckey 



Name: Niall Tuckey

Title: Director



We agree to the terms set out in this letter.



For and of behalf of


Renaissance Reinsurance Ltd.



 /s/ Jeffrey D. Kelly 



Name: Jeffrey D. Kelly

Title: Chief Financial Officer



For and of behalf of


DaVinci Reinsurance Ltd.



 /s/ Aditya Dutt



Name: Aditya Dutt

Title: President



For and of behalf of


RenaissanceRe Specialty Risks Ltd.



 /s/ Jeffrey D. Kelly 



Name: Jeffrey D. Kelly

Title: Chief Financial Officer



For and of behalf of


RenaissanceRe Specialty U.S. Ltd.



 /s/ Jeffrey D. Kelly 



Name: Jeffrey D. Kelly

Title: Chief Financial Officer



For and of behalf of


Renaissance Reinsurance of Europe



 /s/ Sean Brosnan



Name: Sean Brosnan

Title: Managing Director



For and of behalf of


Renaissance Reinsurance U.S. Inc.



 /s/ James M. Conway



Name: James M. Conway

Title: Senior Vice President



For and of behalf of


Platinum Underwriters Bermuda, Ltd.



 /s/ Ross A. Curtis



Name: Ross A. Curtis

Title: President