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Senior Notes
 9 Months Ended
Sep. 30, 2022
Senior Notes [Abstract]  
Senior Notes
11.
 
SENIOR NOTES
The
 
table
 
below
 
displays
 
Everest
 
Reinsurance
 
Holdings’
 
(“Holdings”)
 
outstanding
 
senior
 
notes.
 
Fair
 
value
 
is
based on
 
quoted market
 
prices, but
 
due to
 
limited trading
 
activity,
 
these senior
 
notes are
 
considered Level
 
2 in
the fair value hierarchy.
September 30, 2022
December 31, 2021
Principal
Consolidated Balance
Consolidated Balance
(Dollars in millions)
Date Issued
Date Due
Amounts
Sheet Amount
Fair Value
Sheet Amount
Fair Value
4.868
% Senior notes
6/5/2014
6/1/2044
$
400
$
397
$
339
$
397
$
504
3.5
% Senior notes
10/7/2020
10/15/2050
1,000
980
669
980
1,055
3.125
% Senior notes
10/4/2021
10/15/2052
1,000
969
627
969
983
$
2,400
$
2,347
$
1,635
$
2,346
$
2,542
Interest expense incurred in
 
connection with these senior notes is as follows
 
for the periods indicated:
Three Months Ended
Nine Months Ended
September 30,
September 30,
(Dollars in millions)
2022
2021
2022
2021
Interest expense incurred
4.868
% Senior notes
$
5
$
5
$
15
$
15
Interest expense incurred
3.5
% Senior notes
9
9
26
26
Interest expense incurred
3.125
% Senior notes
8
-
24
-
$
22
$
14
$
65
$
41