XML 100 R29.htm IDEA: XBRL DOCUMENT v3.20.1

Investments (Tables)

3 Months Ended

Mar. 31, 2020

Investments [Abstract]

Summary Of Unrealized Appreciation (Depreciation) Of Available For Sale, Fixed Maturity And Equity Security Investments

		At March 31, 2020
		Amortized			Allowance for			Unrealized			Unrealized			Market
(Dollars in thousands)		Cost			Credit Losses			Appreciation			Depreciation			Value
Fixed maturity securities
	U.S. Treasury securities and obligations of
	U.S. government agencies and corporations	$	1,346,812		$	-		$	86,893		$	(894)		$	1,432,811
	Obligations of U.S. states and political subdivisions		508,158			-			21,737			(4,993)			524,902
	Corporate securities		6,422,137			(17,305)			145,334			(202,844)			6,347,322
	Asset-backed securities		981,323			-			1,987			(79,157)			904,153
	Mortgage-backed securities
	Commercial		816,098			-			29,302			(5,301)			840,099
	Agency residential		2,156,914			-			67,111			(2,854)			2,221,171
	Non-agency residential		4,153			-			-			(156)			3,997
	Foreign government securities		1,471,398			(519)			57,335			(50,496)			1,477,718
	Foreign corporate securities		2,786,194			(3,950)			105,630			(94,152)			2,793,722
Total fixed maturity securities		$	16,493,187			(21,774)		$	515,329		$	(440,847)		$	16,545,895

		At December 31, 2019
		Amortized			Unrealized			Unrealized			Market			OTTI in AOCI
(Dollars in thousands)		Cost			Appreciation			Depreciation			Value			(a)
Fixed maturity securities
	U.S. Treasury securities and obligations of
	U.S. government agencies and corporations	$	1,489,660		$	28,357		$	(2,214)		$	1,515,803		$	-
	Obligations of U.S. states and political subdivisions		507,353			29,651			(89)			536,915			-
	Corporate securities		6,227,661			185,052			(37,767)			6,374,946			469
	Asset-backed securities		892,373			6,818			(1,858)			897,333			-
	Mortgage-backed securities
	Commercial		814,570			31,236			(1,249)			844,557			-
	Agency residential		2,173,099			36,361			(10,879)			2,198,581			-
	Non-agency residential		5,723			-			(20)			5,703			-
	Foreign government securities		1,492,315			47,148			(33,513)			1,505,950			71
	Foreign corporate securities		2,870,737			107,999			(33,580)			2,945,156			447
Total fixed maturity securities		$	16,473,491		$	472,622		$	(121,169)		$	16,824,944		$	987

(a) Represents the amount of OTTI recognized in AOCI. Amount includes unrealized gains and losses on impaired securities relating to changes in the value of such securities subsequent to the impairment measurement date.

Summary Of Amortized Cost And Market Value Of Fixed Maturity Securities, By Contractual Maturity

	At March 31, 2020						At December 31, 2019
	Amortized			Market			Amortized			Market
(Dollars in thousands)	Cost			Value			Cost			Value
Fixed maturity securities – available for sale:
Due in one year or less	$	1,344,371		$	1,344,301		$	1,456,960		$	1,457,919
Due after one year through five years		6,615,039			6,631,502			6,757,107			6,869,359
Due after five years through ten years		3,689,664			3,742,527			3,471,370			3,609,816
Due after ten years		885,625			858,145			902,289			941,676
Asset-backed securities		981,323			904,153			892,373			897,333
Mortgage-backed securities:
Commercial		816,098			840,099			814,570			844,557
Agency residential		2,156,914			2,221,171			2,173,099			2,198,581
Non-agency residential		4,153			3,997			5,723			5,703
Total fixed maturity securities	$	16,493,187		$	16,545,895		$	16,473,491		$	16,824,944

Summary Of Changes In Net Unrealized Appreciation (Depreciation) For The Company's Investments

	Three Months Ended
	March 31,
(Dollars in thousands)	2020			2019
Increase (decrease) during the period between the market value and cost
of investments carried at market value, and deferred taxes thereon:
Fixed maturity securities	$	(277,023)		$	253,894
Fixed maturity securities, other-than-temporary impairment		-			(244)
Change in unrealized appreciation (depreciation), pre-tax		(277,023)			253,650
Deferred tax benefit (expense)		29,024			(22,477)
Deferred tax benefit (expense), other-than-temporary impairment		-			70
Change in unrealized appreciation (depreciation),
net of deferred taxes, included in shareholders’ equity	$	(247,999)		$	231,243

Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Security Type

		Duration of Unrealized Loss at March 31, 2020 By Security Type
	Less than 12 months						Greater than 12 months						Total
				Gross						Gross						Gross
				Unrealized						Unrealized						Unrealized
(Dollars in thousands)	Market Value			Depreciation			Market Value			Depreciation			Market Value			Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	12,543		$	(59)		$	9,003		$	(835)		$	21,546		$	(894)
Obligations of U.S. states and political subdivisions		78,392			(4,745)			3,309			(248)			81,701			(4,993)
Corporate securities		2,298,849			(135,869)			196,450			(66,975)			2,495,299			(202,844)
Asset-backed securities		661,772			(70,133)			121,979			(9,024)			783,751			(79,157)
Mortgage-backed securities
Commercial		89,848			(4,325)			17,004			(976)			106,852			(5,301)
Agency residential		54,106			(1,263)			132,631			(1,591)			186,737			(2,854)
Non-agency residential		652			(15)			3,314			(141)			3,966			(156)
Foreign government securities		331,099			(11,540)			198,695			(38,956)			529,794			(50,496)
Foreign corporate securities		984,854			(56,831)			253,965			(37,321)			1,238,819			(94,152)
Total fixed maturity securities	$	4,512,115		$	(284,780)		$	936,350		$	(156,067)		$	5,448,465		$	(440,847)

		Duration of Unrealized Loss at December 31, 2019 By Security Type
	Less than 12 months						Greater than 12 months						Total
				Gross						Gross						Gross
				Unrealized						Unrealized						Unrealized
(Dollars in thousands)	Market Value			Depreciation			Market Value			Depreciation			Market Value			Depreciation
Fixed maturity securities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations	$	85,527		$	(1,005)		$	249,371		$	(1,209)		$	334,898		$	(2,214)
Obligations of U.S. states and political subdivisions		4,600			(38)			5,522			(51)			10,122			(89)
Corporate securities		547,120			(9,877)			395,369			(27,890)			942,489			(37,767)
Asset-backed securities		176,222			(1,027)			94,190			(831)			270,412			(1,858)
Mortgage-backed securities
Commercial		83,127			(689)			23,063			(560)			106,190			(1,249)
Agency residential		344,267			(1,834)			488,680			(9,045)			832,947			(10,879)
Non-agency residential		332			-			3,976			(20)			4,308			(20)
Foreign government securities		210,766			(4,770)			283,648			(28,743)			494,414			(33,513)
Foreign corporate securities		278,403			(7,553)			365,808			(26,027)			644,211			(33,580)
Total fixed maturity securities	$	1,730,364		$	(26,793)		$	1,909,627		$	(94,376)		$	3,639,991		$	(121,169)

Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Contractual Maturity

		Duration of Unrealized Loss at March 31, 2020 By Maturity
	Less than 12 months						Greater than 12 months						Total
				Gross						Gross						Gross
				Unrealized						Unrealized						Unrealized
(Dollars in thousands)	Market Value			Depreciation			Market Value			Depreciation			Market Value			Depreciation
Fixed maturity securities
Due in one year or less	$	289,680		$	(5,701)		$	167,508		$	(26,447)		$	457,188		$	(32,148)
Due in one year through five years		1,856,090			(88,884)			392,979			(57,252)			2,249,069			(146,136)
Due in five years through ten years		1,337,038			(95,295)			59,440			(9,244)			1,396,478			(104,539)
Due after ten years		222,929			(19,164)			41,495			(51,392)			264,424			(70,556)
Asset-backed securities		661,772			(70,133)			121,979			(9,024)			783,751			(79,157)
Mortgage-backed securities		144,606			(5,603)			152,949			(2,708)			297,555			(8,311)
Total fixed maturity securities	$	4,512,115		$	(284,780)		$	936,350		$	(156,067)		$	5,448,465		$	(440,847)

		Duration of Unrealized Loss at December 31, 2019 By Maturity
	Less than 12 months						Greater than 12 months						Total
				Gross						Gross						Gross
				Unrealized						Unrealized						Unrealized
(Dollars in thousands)	Market Value			Depreciation			Market Value			Depreciation			Market Value			Depreciation
Fixed maturity securities
Due in one year or less	$	67,879		$	(1,237)		$	416,583		$	(23,004)		$	484,462		$	(24,241)
Due in one year through five years		464,753			(7,960)			689,195			(38,138)			1,153,948			(46,098)
Due in five years through ten years		495,741			(12,388)			103,612			(11,100)			599,353			(23,488)
Due after ten years		98,043			(1,658)			90,328			(11,678)			188,371			(13,336)
Asset-backed securities		176,222			(1,027)			94,190			(831)			270,412			(1,858)
Mortgage-backed securities		427,726			(2,523)			515,719			(9,625)			943,445			(12,148)
Total fixed maturity securities	$	1,730,364		$	(26,793)		$	1,909,627		$	(94,376)		$	3,639,991		$	(121,169)

Summary Of Components Of Net Investment Income

	Three Months Ended
	March 31,
(Dollars in thousands)	2020			2019
Fixed maturities	$	137,924		$	126,708
Equity securities		3,521			3,507
Short-term investments and cash		2,175			4,205
Other invested assets
Limited partnerships		21,568			8,297
Other		(13,071)			2,980
Gross investment income before adjustments		152,117			145,697
Funds held interest income (expense)		8,216			5,968
Future policy benefit reserve income (expense)		(211)			(234)
Gross investment income		160,122			151,431
Investment expenses		(12,322)			(10,455)
Net investment income	$	147,800		$	140,976

Summary Of Components Of Net Realized Capital Gains (Losses)

	Three Months Ended
	March 31,
(Dollars in thousands)	2020				2019
Fixed maturity securities, market value:
Allowance for credit losses	$	(21,774)		$	-
Other-than-temporary impairments		-			(2,933)
Gains (losses) from sales		(14,076)			5,273
Fixed maturity securities, fair value:
Gains (losses) from sales		-			-
Gains (losses) from fair value adjustments		(1,123)			13
Equity securities, fair value:
Gains (losses) from sales		(27,599)			5,048
Gains (losses) from fair value adjustments		(144,003)			84,441
Other invested assets		(2,327)			396
Short-term investments gain (loss)		314			(6)
Total net realized capital gains (losses)	$	(210,588)		$	92,232

					Foreign			Foreign
		Corporate			Government			Corporate
		Securities			Securities			Securities			Total
Balance as of December 31, 2019		$	-		$	-		$	-		$	-
Provision for credit losses			(17,305)			(519)			(3,950)			(21,774)
Balance as of March 31, 2020		$	(17,305)		$	(519)		$	(3,950)		$	(21,774)

Summary Of Gross Gains (Losses) From Sales Of Fixed Maturity And Equity Securities

	Three Months Ended
	March 31,
(Dollars in thousands)	2020			2019
Proceeds from sales of fixed maturity securities	$	501,953		$	1,798,226
Gross gains from sales		14,001			16,138
Gross losses from sales		(28,077)			(10,865)
Proceeds from sales of equity securities	$	112,841		$	69,500
Gross gains from sales		2,584			5,675
Gross losses from sales		(30,183)			(627)

X

- Definition

Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities By Contractual Maturity [Table Text Block]

+ References

No definition available.

+ Details

Name:	re_SummaryOfAggregateMarketValueAndGrossUnrealizedDepreciationOfFixedMaturityAndEquitySecuritiesByContractualMaturityTableTextBlock
Namespace Prefix:	re_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Summary of aggregate market value and gross unrealized depreciation of fixed maturity and equity securities by security type [Text Block]

+ References

No definition available.

+ Details

Name:	re_SummaryOfAggregateMarketValueAndGrossUnrealizedDepreciationOfFixedMaturityAndEquitySecuritiesBySecurityTypeTextBlock
Namespace Prefix:	re_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Unrealized Appreciation Depreciation Of Investments [Table Text Block]

+ References

No definition available.

+ Details

Name:	re_UnrealizedAppreciationDepreciationOfInvestmentsTableTextBlock
Namespace Prefix:	re_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

No definition available.

+ Details

Name:	us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of investment.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-URI http://asc.fasb.org/topic&trid=2197064

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 321
-URI http://asc.fasb.org/topic&trid=75115024

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-URI http://asc.fasb.org/topic&trid=2196965

+ Details

Name:	us-gaap_InvestmentTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of realized gains and losses on investments reported in the statement of income.

+ References

No definition available.

+ Details

Name:	us-gaap_RealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27357-111563

+ Details

Name:	us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration