XML 141 R123.htm IDEA: XBRL DOCUMENT v3.25.0.1
SCHEDULE II — CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($)
$ in Millions
1 Months Ended 12 Months Ended
May 31, 2024
Sep. 30, 2023
May 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:            
Net income (loss)       $ 1,373 $ 2,517 $ 597
Adjustments to reconcile net income to net cash provided by operating activities:            
Change in other assets and liabilities, net       (431) (339) (297)
Non-cash compensation expense       63 49 45
Net cash provided by (used in) operating activities       4,957 4,553 3,695
CASH FLOWS FROM INVESTING ACTIVITIES:            
Proceeds from fixed maturities sold - available for sale       6,257 3,849 1,403
Distributions from other invested assets       409 245 266
Cost of other invested assets acquired       (936) (902) (1,547)
Net change in short-term investments       (2,494) (1,034) 149
Net cash provided by (used in) investing activities       (4,478) (5,902) (3,418)
CASH FLOWS FROM FINANCING ACTIVITIES:            
Purchase of treasury shares       (200) 0 (61)
Dividends paid to shareholders       (334) (288) (255)
Net cash provided by (used in) financing activities       (383) 1,409 (359)
EFFECT OF EXCHANGE RATE CHANGES ON CASH       16 (23) 39
Net increase (decrease) in cash       112 38 (42)
Cash, beginning of period       1,437 1,398 1,441
Cash, end of period       1,549 1,437 1,398
Parent Company            
CASH FLOWS FROM OPERATING ACTIVITIES:            
Net income (loss)       1,373 2,517 597
Adjustments to reconcile net income to net cash provided by operating activities:            
Equity in retained (earnings) deficit of subsidiaries       (1,510) (2,641) (648)
Cash dividends received from subsidiaries       969 365 476
Change in other assets and liabilities, net       7 (8) 28
Increase (decrease) in due to/from affiliates       (3) 2 2
Non-cash compensation expense       2 3 2
Net cash provided by (used in) operating activities       839 238 457
CASH FLOWS FROM INVESTING ACTIVITIES:            
Additional investment in subsidiaries       (161) (377) (824)
Proceeds from fixed maturities sold - available for sale       0 23 0
Distributions from other invested assets       826 441 237
Cost of fixed maturities acquired - available for sale       0 (23) 0
Cost of other invested assets acquired       (852) (479) (26)
Net change in short-term investments       (8) 0 0
Proceeds from repayment of long term notes receivable - affiliated $ 50 $ 50   50 50 0
(Issuance) of long term notes receivable - affiliated     $ (100) (600) (100) 0
Net cash provided by (used in) investing activities       (745) (465) (613)
CASH FLOWS FROM FINANCING ACTIVITIES:            
Common shares issued during the period, net       36 23 26
Proceeds from public offering of common shares       0 1,445 0
Purchase of treasury shares       (200) 0 (61)
Dividends paid to shareholders       (334) (288) (255)
Proceeds from issuance (cost of repayment) of long term notes payable - affiliated       400 (965) 465
Net cash provided by (used in) financing activities       (98) 215 175
EFFECT OF EXCHANGE RATE CHANGES ON CASH       0 0 0
Net increase (decrease) in cash       (4) (13) 19
Cash, beginning of period       9 22 3
Cash, end of period       5 9 22
NON-CASH TRANSACTIONS:            
Dividend of 4,297,463 shares of Everest Group, Ltd. (“Group”) common stock received by Group from Everest Preferred International Holdings (“Preferred Holdings”), a direct subsidiary       0 0 1,405
Issuance of $1,773 million promissory note payable by Group to Preferred Holdings in exchange for 5,422,508 shares of Group common stock received by Group from Preferred Holdings       0 0 1,773
Capital contribution of 9,719,971 shares of Group common stock provided from Group to Everest Re Advisors, Ltd.       $ 0 $ 0 $ 3,178