Document And Entity Information
| Document And Entity Information - shares | 3 Months Ended | |
| Mar. 31, 2023 | May 01, 2023 | |
| Document And Entity Information [Line Items] | ||
| Document Type | 10-Q | |
| Document Quarterly Report | true | |
| Document Period End Date | Mar. 31, 2023 | |
| Document Fiscal Year Focus | 2023 | |
| Document Transition Report | false | |
| Entity File Number | 1-14527 | |
| Entity Registrant Name | EVEREST REINSURANCE HOLDINGS, INC. | |
| Entity Incorporation State Country Code | DE | |
| Entity Tax Identification Number | 22-3263609 | |
| Entity Address Address Line 1 | 100 Everest Way | |
| Entity Address City Or Town | Warren | |
| Entity Address, State or Province | NJ | |
| Entity Address Postal Zip Code | 07059 | |
| City Area Code | 908 | |
| Local Phone Number | 604-3000 | |
| Entity Current Reporting Status | Yes | |
| Entity Interactive Data Current | Yes | |
| Entity Filer Category | Non-accelerated Filer | |
| Entity Small Business | false | |
| Entity Emerging Growth Company | false | |
| Entity Shell Company | false | |
| Entity Common Stock, Shares Outstanding | 1,000 | |
| Amendment Flag | false | |
| Entity Central Index Key | 0000914748 | |
| Document Fiscal Period Focus | Q1 | |
| Current Fiscal Year End Date | --12-31 |
Consolidated Balance Sheets
| Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
| ASSETS: | ||
| Fixed maturities- available for sale, at fair value (amortized cost: 2023, $14,304; 2022, $13,699, credit allowances: 2023, $(56); 2022, $(46)) | $ 13,414 | $ 12,671 |
| Fixed maturities - held to maturity, at amortized cost, (fair value: 2023, $787; 2022, $793, net of credit allowances: 2023, $(9); 2022, $(9)) | 797 | 811 |
| Equity securities, at fair value | 158 | 194 |
| Other invested assets | 2,816 | 2,754 |
| Other invested assets, at fair value | 1,497 | 1,472 |
| Short-term investments | 822 | 812 |
| Cash | 492 | 481 |
| Total investments and cash | 19,996 | 19,195 |
| Notes Receivable - affiliated | 840 | 840 |
| Accrued investment income | 170 | 150 |
| Premiums receivable (net of credit allowances: 2023, $(22); 2022, $(21)) | 1,805 | 1,721 |
| Reinsurance recoverables - unaffiliated (net of credit allowances: 2023, $(21); 2022, $(21)) | 1,896 | 1,841 |
| Reinsurance recoverables - affiliated | 1,896 | 1,935 |
| Income tax asset, net | 207 | 288 |
| Funds held by reinsureds | 297 | 303 |
| Deferred acquisition costs | 499 | 499 |
| Prepaid reinsurance premiums | 446 | 463 |
| Other assets (net of credit allowances: 2023, $(7); 2022, $(5)) | 731 | 722 |
| TOTAL ASSETS | 28,783 | 27,957 |
| LIABILITIES: | ||
| Reserve for losses and loss adjustment expenses | 15,315 | 14,977 |
| Unearned premium reserve | 3,155 | 3,177 |
| Funds held under reinsurance treaties | 40 | 43 |
| Other net payable to reinsurers | 476 | 436 |
| Losses in course of payment | 72 | 77 |
| Senior notes | 2,348 | 2,347 |
| Long-term notes | 218 | 218 |
| Borrowings from FHLB | 519 | 519 |
| Accrued interest on debt and borrowings | 40 | 19 |
| Unsettled securities payable | 197 | 1 |
| Other liabilities | 401 | 489 |
| Total liabilities | 22,781 | 22,303 |
| Commitments and Contingencies (Note 6) | ||
| STOCKHOLDER'S EQUITY: | ||
| Common stock, par value: $0.01; 3,000 shares authorized; 1,000 shares issued and outstanding (2023 and 2022) | ||
| Additional paid-in capital | 1,102 | 1,102 |
| Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $(191) at 2023 and $(225) at 2022 | (720) | (848) |
| Retained earnings | 5,620 | 5,400 |
| Total stockholder's equity | 6,002 | 5,654 |
| TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY | $ 28,783 | $ 27,957 |
Consolidated Balance Sheets (Pa
| Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
| Mar. 31, 2023 | Dec. 31, 2022 | |
| Fixed maturities - available for sale, at fair value, amortized cost | $ 14,304 | $ 13,699 |
| Fixed maturities - available for sale, at fair value, allowance for credit loss | (56) | (46) |
| Fixed maturities - held to maturity, at amortized cost, net of credit allowances, fair value | 787 | 793 |
| Fixed maturities - held to maturity, at amortized cost, credit allowances | (9) | (9) |
| Premiums receivable, credit allowances | (22) | (21) |
| Reinsurance paid loss recoverables, credit allowances | (21) | (21) |
| Other assets, credit allowances | $ (7) | $ (5) |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 3,000 | 3,000 |
| Common stock, shares issued | 1,000 | 1,000 |
| Common stock, shares outstanding | 1,000 | 1,000 |
| Accumulated other comprehensive income (loss), deferred income tax expense (benefit) | $ 191 | $ (225) |
Consolidated Statements Of Oper
| Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| REVENUES: | ||
| Premiums earned | $ 2,068 | $ 1,829 |
| Net investment income | 190 | 156 |
| Net gains (losses) on investments: | ||
| Credit allowances on fixed maturity securities | (10) | (2) |
| Gains (losses) from fair value adjustments | 27 | (215) |
| Net realized gains (losses) from dispositions | 5 | (10) |
| Total net gains (losses) on investments | 22 | (227) |
| Other income (expense) | (4) | (9) |
| Total revenues | 2,276 | 1,749 |
| CLAIMS AND EXPENSES: | ||
| Incurred losses and loss adjustment expenses | 1,394 | 1,226 |
| Commission, brokerage, taxes and fees | 436 | 385 |
| Other underwriting expenses | 139 | 118 |
| Corporate expenses | 6 | 6 |
| Interest, fee and bond issue cost amortization expense | 32 | 24 |
| Total claims and expenses | 2,007 | 1,758 |
| INCOME (LOSS) BEFORE TAXES | 269 | (9) |
| Income tax expense (benefit) | 49 | (10) |
| NET INCOME (LOSS) | 220 | 1 |
| Other comprehensive income (loss), net of tax : | ||
| Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period | 112 | (394) |
| Less: reclassification adjustment for realized losses (gains) included in net income (loss) | 9 | 2 |
| Total URA(D) on securities arising during the period | 121 | (392) |
| Foreign currency translation adjustments | 7 | (2) |
| Reclassification adjustment for amortization of net (gain) loss included in net income (loss) | 1 | |
| Total benefit plan net gain (loss) for the period | 1 | |
| Total other comprehensive income (loss), net of tax | 128 | (393) |
| COMPREHENSIVE INCOME (LOSS) | $ 348 | $ (392) |
Consolidated Statements Of Chan
| Consolidated Statements Of Changes In Stockholder's Equity - USD ($) $ in Millions | Total | Common Stock [Member] | Additional Paid In Capital [Member] | Accumulated Other Comprehensive Income (Loss), Net Of Deferred Income Taxes [Member] | Retained Earnings [Member] |
| Beginning balance at Dec. 31, 2021 | $ 1,102 | $ 91 | $ 5,845 | ||
| Beginning balance, shares at Dec. 31, 2021 | 1,000 | ||||
| Share-based compensation plans | |||||
| Current period change | $ (393) | (393) | |||
| Net income (loss) | 1 | 1 | |||
| Ending balance at Mar. 31, 2022 | 6,646 | 1,102 | (302) | 5,846 | |
| Ending balance, shares at Mar. 31, 2022 | 1,000 | ||||
| Beginning balance at Dec. 31, 2022 | $ 5,654 | 1,102 | (848) | 5,400 | |
| Beginning balance, shares at Dec. 31, 2022 | 1,000 | 1,000 | |||
| Share-based compensation plans | |||||
| Current period change | $ 128 | 128 | |||
| Net income (loss) | 220 | 220 | |||
| Ending balance at Mar. 31, 2023 | $ 6,002 | $ 1,102 | $ (720) | $ 5,620 | |
| Ending balance, shares at Mar. 31, 2023 | 1,000 | 1,000 |
Consolidated Statements Of Cash
| Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $ 220 | $ 1 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Decrease (increase) in premiums receivable | (83) | 101 |
| Decrease (increase) in funds held by reinsureds, net | 3 | (15) |
| Decrease (increase) in reinsurance recoverables | (15) | 127 |
| Decrease (increase) in income taxes | 47 | (12) |
| Decrease (increase) in prepaid reinsurance premiums | 17 | 12 |
| Increase (decrease) in reserve for losses and loss adjustment expenses | 331 | 288 |
| Increase (decrease) in unearned premiums | (23) | (45) |
| Increase (decrease) in other net payable to reinsurers | 39 | 8 |
| Increase (decrease) in losses in course of payment | (5) | (134) |
| Change in equity adjustments in limited partnerships | 4 | (53) |
| Distribution of limited partnership income | 14 | 40 |
| Change in other assets and liabilities, net | (149) | (31) |
| Non-cash compensation expense | 9 | 10 |
| Amortization of bond premium (accrual of bond discount) | (3) | 8 |
| Net (gains) losses on investments | (22) | 227 |
| Net cash provided by (used in) operating activities | 384 | 531 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Proceeds from fixed maturities matured/called/repaid - available for sale | 257 | 518 |
| Proceeds from fixed maturities sold - available for sale | 49 | 267 |
| Proceeds from fixed maturities matured/called/repaid - held to maturity | 28 | |
| Proceeds from equity securities sold | 46 | 82 |
| Distributions from other invested assets | 86 | 76 |
| Cost of fixed maturities acquired - available for sale | (903) | (1,253) |
| Cost of fixed maturities acquired - held to maturity | (11) | |
| Cost of equity securities acquired | (195) | |
| Cost of other invested assets acquired | (163) | (75) |
| Net change in short-term investments | (5) | 123 |
| Net change in unsettled securities transactions | 245 | 29 |
| Net cash provided by (used in) investing activities | (372) | (429) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Tax benefit from share-based compensation, net of expense | (9) | (10) |
| Net cash provided by (used in) financing activities | (9) | (10) |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH | 8 | (4) |
| Net increase (decrease) in cash | 11 | 88 |
| Cash, beginning of period | 481 | 699 |
| Cash, end of period | 492 | 787 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||
| Income taxes paid (recovered) | 1 | 2 |
| Interest paid | $ 10 | $ 2 |
General
| General | 3 Months Ended |
| Mar. 31, 2023 | |
| General [Abstract] | |
| General | 1. Everest Reinsurance Group through its of “Bermuda Reinsurance Company and its subsidiaries, |
Basis Of Presentation
| Basis Of Presentation | 3 Months Ended |
| Mar. 31, 2023 | |
| Basis Of Presentation [Abstract] | |
| Basis Of Presentation | 2. The unaudited and for accruals, basis. accordance omitted since it is data results for year. and notes thereto Form 10-K filing. The Company which Company as to whether an entity qualifies as a VIE or VOE, The assumptions liabilities) at reporting period. Ultimate actual results All intercompany accounts Application of Recently Issued Accounting The ended the Financial updates December 31, are expected to have |
Investments
| Investments | 3 Months Ended |
| Mar. 31, 2023 | |
| Investments [Abstract] | |
| Investments | 3. The appreciation/(depreciation) and At March 31, 2023 Amortized Allowances for Unrealized Unrealized Fair (Dollars in millions) Cost Credit Losses Appreciation Depreciation Value Fixed maturity securities – available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 543 $ - $ - $ (33) $ 510 Obligations of U.S. states and political 424 - 2 (28) 398 Corporate securities 4,088 (55) 15 (288) 3,759 Asset-backed securities 4,455 - 5 (124) 4,335 Mortgage-backed securities Commercial 569 - - (58) 511 Agency residential 1,853 - 9 (143) 1,719 Non-agency residential 3 - - - 3 Foreign government securities 691 - 2 (50) 643 Foreign corporate securities 1,680 (1) 5 (146) 1,537 Total fixed maturity securities - available for sale $ 14,304 $ (56) $ 37 $ (871) $ 13,414 (Some amounts may not reconcile due to rounding.) At December 31, 2022 Amortized Allowances for Unrealized Unrealized Fair (Dollars in millions) Cost Credit Losses Appreciation Depreciation Value Fixed maturity securities – available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 575 $ - $ - $ (40) $ 535 Obligations of U.S. states and political 444 - 2 (32) 413 Corporate securities 3,913 (45) 14 (322) 3,561 Asset-backed securities 4,111 - 5 (165) 3,951 Mortgage-backed securities Commercial 569 - - (59) 509 Agency residential 1,792 - 3 (167) 1,628 Non-agency residential 3 - - - 3 Foreign government securities 696 - 2 (61) 637 Foreign corporate securities 1,597 (1) 4 (167) 1,433 Total fixed maturity securities - available for sale $ 13,699 $ (46) $ 30 $ (1,013) $ 12,671 (Some amounts may not reconcile due to rounding.) The following tables and fair value of fixed maturity At March 31, 2023 Amortized Allowances for Unrealized Unrealized Fair (Dollars in millions) Cost Credit Loss Appreciation Depreciation Value Fixed maturity securities – held to maturity Corporate securities $ 152 $ (2) $ 1 $ (3) $ 148 Asset-backed securities 612 (6) 1 (12) 596 Mortgage-backed securities Commercial 14 - - - 13 Foreign corporate securities 28 (1) 2 - 29 Total fixed maturity securities - held to maturity $ 806 $ (9) $ 4 $ (15) $ 787 (Some amounts may not reconcile due to rounding.) At December 31, 2022 Amortized Allowances for Unrealized Unrealized Fair (Dollars in millions) Cost Credit Loss Appreciation Depreciation Value Fixed maturity securities – held to maturity Corporate securities $ 152 $ (2) $ - $ (6) $ 144 Asset-backed securities 634 (6) 2 (15) 614 Mortgage-backed securities Commercial 7 - - - 7 Foreign corporate securities 28 (1) 2 - 28 Total fixed maturity securities - held to maturity $ 820 $ (9) $ 3 $ (22) $ 793 (Some amounts may not reconcile due to rounding.) The amortized cost and fair value contractual maturity. for mortgage-backed and At March 31, 2023 At December 31, 2022 Amortized Fair Amortized Fair (Dollars in millions) Cost Value Cost Value Fixed maturity securities – available for sale $ 719 $ 694 $ 581 $ 563 3,687 3,461 3,684 3,429 1,981 1,787 2,003 1,760 1,038 905 958 827 Asset-backed securities 4,455 4,335 4,111 3,951 Mortgage-backed securities Commercial 569 511 569 509 Agency residential 1,853 1,719 1,792 1,628 Non-agency residential 3 3 3 3 Total fixed maturity securities - available for sale $ 14,304 $ 13,414 $ 13,699 $ 12,671 (Some amounts may not reconcile due to rounding.) The amortized cost contractual totals for mortgage-backed At March 31, 2023 At December 31, 2022 Amortized Fair Amortized Fair (Dollars in millions) Cost Value Cost Value Fixed maturity securities – held to maturity: $ 5 $ 5 $ 5 $ 5 63 63 63 61 43 42 43 41 68 67 68 65 Asset-backed securities 612 596 634 614 Mortgage-backed securities Commercial 14 13 7 7 Total fixed maturity securities - held to maturity $ 806 $ 787 $ 820 $ 793 (Some amounts may not reconcile due to rounding.) During available reclassified at the date 722 subsequently recognized loss of $ 48 amortized into the securities. The Company evaluated of March 31, adjusted include the incorporation of current and are all rated investment The following sources for the periods Three Months Ended March 31, (Dollars in millions) 2023 2022 Increase (decrease) during the period between the fair value and cost of Fixed maturity securities - available for sale and short-term investments $ 153 $ (496) Change in unrealized appreciation (depreciation), pre-tax 153 (496) Deferred tax benefit (expense) (32) 104 Change in unrealized appreciation (depreciation), net of deferred taxes, $ 121 $ (392) (Some amounts may not reconcile due to rounding.) The tables available that individual securities had been in a continuous unrealized Duration of Unrealized Loss at March 31, 2023 By Security Type Less than 12 months Greater than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in millions) Value Depreciation Value Depreciation Value Depreciation Fixed maturity securities - available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 153 $ (3) $ 348 $ (30) $ 501 $ (33) Obligations of U.S. states and political subdivisions 113 (6) 119 (22) 232 (28) Corporate securities 1,255 (52) 1,814 (235) 3,069 (287) Asset-backed securities 1,614 (37) 1,819 (87) 3,434 (124) Mortgage-backed securities Commercial 170 (11) 334 (47) 504 (58) Agency residential 589 (24) 749 (119) 1,338 (143) Non-agency residential - - 3 - 3 - Foreign government securities 171 (5) 406 (45) 578 (50) Foreign corporate securities 478 (18) 905 (128) 1,383 (146) Total $ 4,543 $ (157) $ 6,499 $ (713) $ 11,042 $ (870) Securities where an allowance for credit loss was recorded 2 (1) 1 (1) 3 (1) Total fixed maturity securities - available for sale $ 4,545 $ (158) $ 6,499 $ (713) $ 11,045 $ (871) (Some amounts may not reconcile due to rounding.) Duration of Unrealized Loss at March 31, 2023 By Maturity Less than 12 months Greater than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in millions) Value Depreciation Value Depreciation Value Depreciation Fixed maturity securities - available for sale Due in one year or less $ 485 $ (7) $ 111 $ (9) $ 596 $ (17) Due in one year through five years 893 (31) 2,073 (192) 2,966 (223) Due in five years through ten years 542 (31) 965 (169) 1,507 (200) Due after ten years 249 (15) 445 (90) 694 (105) Asset-backed securities 1,614 (37) 1,819 (87) 3,434 (124) Mortgage-backed securities 759 (36) 1,086 (166) 1,845 (201) Total $ 4,543 $ (157) $ 6,499 $ (713) $ 11,042 $ (870) Securities where an allowance for credit loss was recorded 2 (1) 1 (1) 3 (1) Total fixed maturity securities - available for sale $ 4,545 $ (158) $ 6,499 $ (713) $ 11,045 $ (871) (Some amounts may not reconcile due to rounding.) The aggregate unrealized 11.0 871 securities for loss 3.8 % securities - position 0.6 % sale. In addition, as indicated one market sector. 158 have been corporate unrealized 126 nationally 713 available corporate 657 million agency. investments and are an non-issuer specific do not permit these securities to be settled at a price The Company, securities; and cost and interest payments. The tables available that individual securities had been in a continuous unrealized Duration of Unrealized Loss at December 31, 2022 By Security Type Less than 12 months Greater than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in millions) Value Depreciation Value Depreciation Value Depreciation Fixed maturity securities - available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 290 $ (14) $ 245 $ (26) $ 535 $ (40) Obligations of U.S. states and political subdivisions 235 (23) 27 (9) 261 (32) Corporate securities 2,138 (175) 841 (146) 2,979 (321) Asset-backed securities 3,120 (138) 436 (27) 3,556 (165) Mortgage-backed securities Commercial 464 (50) 36 (9) 500 (59) Agency residential 852 (54) 605 (113) 1,456 (167) Non-agency residential 2 - 1 - 3 - Foreign government securities 455 (36) 144 (25) 599 (61) Foreign corporate securities 967 (100) 365 (67) 1,332 (167) Total $ 8,522 $ (591) $ 2,698 $ (421) $ 11,220 $ (1,012) Securities where an allowance for credit loss was recorded 2 (1) - - 2 (1) Total fixed maturity securities - available for sale $ 8,524 $ (591) $ 2,698 $ (421) $ 11,222 $ (1,013) (Some amounts may not reconcile due to rounding.) Duration of Unrealized Loss at December 31, 2022 By Maturity Less than 12 months Greater than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in millions) Value Depreciation Value Depreciation Value Depreciation Fixed maturity securities - available for sale Due in one year or less $ 463 $ (8) $ 29 $ (4) $ 491 $ (11) Due in one year through five years 2,020 (143) 936 (107) 2,956 (250) Due in five years through ten years 1,162 (148) 395 (98) 1,557 (246) Due after ten years 439 (50) 262 (64) 701 (114) Asset-backed securities 3,120 (138) 436 (27) 3,556 (165) Mortgage-backed securities 1,318 (105) 641 (122) 1,959 (226) Total $ 8,522 $ (591) $ 2,698 $ (421) $ 11,220 $ (1,012) Securities where an allowance for credit loss was recorded 2 (1) - - 2 (1) Total fixed maturity securities - available for sale $ 8,524 $ (591) $ 2,698 $ (421) $ 11,222 $ (1,013) (Some amounts may not reconcile due to rounding.) The aggregate unrealized 11.2 1.0 securities position 4.3 % securities - comprised less 0.6 % of on the above 591 million of loss position for government securities. Of these 520 at 421 securities and losses 392 recognized value credit coverage and are current The components of net investment Three Months Ended March 31, (Dollars in millions) 2023 2022 Fixed maturities $ 174 $ 94 Equity securities 1 4 Short-term investments and cash 11 - Other invested assets Limited partnerships (24) 44 Dividends from preferred shares of affiliate 8 8 Other 22 12 Gross investment income before adjustments 192 162 Funds held interest income (expense) 3 3 Interest income from Parent 5 2 Gross investment income 200 166 Investment expenses (10) (10) Net investment income $ 190 $ 156 (Some amounts may not reconcile due to rounding.) The changes in value reported through dependent upon the Company’s to one partnership during this lag period, a loss will be recorded The Company 931 private accordance extended, through 2027 . During the carried within other invested 954 939 2023 and December 31, 2022, respectively. The Company participates in facility is to high quality, facility. balance sheets was $ 287 Other shares Group. Variable Interest The primarily as an investor that either has majority kick-out other Company deemed significantly benefits determines Financial Statements. which it is the primary beneficiary. The partnerships is performance December 31, 2022 2.82 2.75 included Company's totaling 869 partnership These management. In addition, the Company is not obligations respect to these investments is not amount Company’s activities that most significantly to loss on these investments The components of net gains (losses) on investments Three Months Ended March 31, (Dollars in millions) 2023 2022 Fixed maturity securities: Allowances for credit losses $ (10) $ (2) Net realized gains (losses) from dispositions (1) (5) Equity securities, fair value: Net realized gains (losses) from dispositions 7 (8) Gains (losses) from fair value adjustments 3 (131) Other invested assets - 4 Other invested assets, fair value: Gains (losses) from fair value adjustments 24 (85) Total net gains (losses) on investments $ 22 $ (227) (Some amounts may not reconcile due to rounding.) The following tables losses for the periods indicated: Roll Forward of Allowance for Credit Losses - Fixed Maturities - Available for Sale Three Months Ended March 31, 2023 Foreign Corporate Securities Corporate Securities Total (Dollars in millions) Beginning Balance $ (45) $ (1) $ (46) Credit losses on securities where credit losses were not previously recorded (12) - (12) Increases in allowance on previously impaired securities - - - Decreases in allowance on previously impaired securities - - - Reduction in allowance due to disposals 2 - 2 Balance, end of period $ (55) $ (1) $ (56) (Some amounts may not reconcile due to rounding.) Roll Forward of Allowance for Credit Losses - Fixed Maturities - Held to Maturity Three Months Ended March 31, 2023 Asset Foreign Corporate Backed Corporate Securities Securities Securities Total (Dollars in millions) Beginning Balance $ (2) $ (6) $ (1) $ (9) Credit losses on securities where credit losses were not previously recorded - - - - Increases in allowance on previously impaired securities - - - - Decreases in allowance on previously impaired securities - - - - Reduction in allowance due to disposals - - - - Balance, end of period $ (2) $ (6) $ (1) $ (9) (Some amounts may not reconcile due to rounding.) Roll Forward of Allowance for Credit Losses - Fixed Maturities - Available for Sale Three Months Ended March 31, 2022 Asset Foreign Corporate Backed Corporate Securities Securities Securities Total (Dollars in millions) Beginning Balance $ (19) $ (8) $ - $ (27) Credit losses on securities where credit losses were not previously recorded (2) - (1) (3) Increases in allowance on previously impaired securities - - - - Decreases in allowance on previously impaired securities - - - - Reduction in allowance due to disposals 1 - - 1 Balance, end of period $ (20) $ (8) $ (1) $ (29) (Some amounts may not reconcile due to rounding.) The proceeds and sale and equity securities, are presented in the Three Months Ended March 31, (Dollars in millions) 2023 2022 Proceeds from sales of fixed maturity securities, available for sale $ 49 $ 267 Gross gains from dispositions 3 3 Gross losses from dispositions (4) (8) Proceeds from sales of equity securities $ 46 $ 82 Gross gains from dispositions 7 4 Gross losses from dispositions - (12) (Some amounts may not reconcile due to rounding.) |
Reserves For Losses, LAE And Fu
| Reserves For Losses, LAE And Future Policy Benefit Reserve | 3 Months Ended |
| Mar. 31, 2023 | |
| Reserves For Losses, LAE And Future Policy Benefit Reserve [Abstract] | |
| Reserves For Losses, LAE And Future Policy Benefit Reserve | 4. Activity in the reserve for losses and loss adjustment Three Months Ended March 31, (Dollars in millions) 2023 2022 Gross reserves beginning of period $ 14,977 $ 13,121 Less reinsurance recoverables on unpaid losses (3,684) (3,651) Net reserves beginning of period 11,293 9,470 Incurred related to: Current year 1,403 1,219 Prior years (9) 7 Total incurred losses and LAE 1,394 1,226 Paid related to: Current year 585 248 Prior years 379 676 Total paid losses and LAE 964 924 Foreign exchange/translation adjustment 5 7 Net reserves end of period 11,729 9,778 Plus reinsurance recoverables on unpaid losses 3,586 3,625 Gross reserves end of period $ 15,315 $ 13,404 (Some amounts may not reconcile due to rounding.) Current 1.4 1.2 2022, increase $ 22 9 million is primarily driven by favorable |
Fair Value
| Fair Value | 3 Months Ended |
| Mar. 31, 2023 | |
| Fair Value [Abstract] | |
| Fair Value | 5. GAAP guidance regarding fair are required to use fair value definition of fair an asset or In valuation hierarchy significant to the measurement, The levels in the hierarchy Level 1: identical assets or liabilities in an active market; Level 2: markets, substantially the full term of the financial instrument; Level 3: The managers. recognized pricing services. They use pricing maturity such as use scenarios for securities that have prepayment The investment investment reasonableness also ongoing investment with a procedures. assumptions about $ 1.7 were valued valuations third party 1.7 inputs. The Company 2022 of $ 3.4 2.7 asset-backed securities and US treasury published sources or nationally recognized Equity categorized exchanges fair value. The Company uses foreign Fixed maturity may not have as seniority. third exchange rates from In addition as Level 3 result when prices are unobservable information price quotes dealers prices received from brokers If the broker quotes are for exchange rates from The follows: ● U.S. Treasury of U.S. Treasury trades, quoted prices for similar issuances ● Obligations the fair values securities, benchmark yields and credit spreads; ● Corporate values securities, benchmark yields and credit spreads; ● Asset-backed prices, observable inputs such as prepayment speeds, ● Foreign government are based models converted to U.S. dollars ● Foreign corporate based models converted to U.S. dollars The following fair value as of the period indicated: Fair Value Measurement Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in millions) March 31, 2023 (Level 1) (Level 2) (Level 3) Assets: Fixed maturities, available for sale U.S. Treasury securities and obligations of $ 510 $ - $ 510 $ - Obligations of U.S. states and political subdivisions 398 - 398 - Corporate securities 3,759 - 3,050 709 Asset-backed securities 4,335 - 3,315 1,020 Mortgage-backed securities Commercial 511 - 511 - Agency residential 1,719 - 1,719 - Non-agency residential 3 - 3 - Foreign government securities 643 - 643 - Foreign corporate securities 1,537 - 1,521 16 Total fixed maturities, available for sale 13,414 - 11,669 1,745 Equity securities, fair value 158 140 19 - Other invested assets, fair value 1,497 - - 1,497 (Some amounts may not reconcile due to rounding.) Fair Value Measurement Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in millions) December 31, 2022 (Level 1) (Level 2) (Level 3) Assets: Fixed maturities, available for sale U.S. Treasury securities and obligations of $ 535 $ - $ 535 $ - Obligations of U.S. states and political subdivisions 413 - 413 - Corporate securities 3,561 - 2,846 715 Asset-backed securities 3,951 - 2,957 994 Mortgage-backed securities Commercial 509 - 509 - Agency residential 1,628 - 1,628 - Non-agency residential 3 - 3 - Foreign government securities 637 - 637 - Foreign corporate securities 1,433 - 1,417 16 Total fixed maturities, available for sale 12,671 - 10,946 1,725 Equity securities, fair value 194 132 63 - Other invested assets, fair value 1,472 - - 1,472 (Some amounts may not reconcile due to rounding.) In addition, $ 316 292 sheets as of tables as the assets are measured at The inputs for fixed maturities available Total Fixed Maturities - Available for Sale Three Months Ended March 31, 2023 Corporate Asset Backed Foreign (Dollars in millions) Securities Securities Corporate Total Beginning balance fixed maturities $ 715 $ 994 $ 16 $ 1,725 Total gains or (losses) (realized/unrealized) Included in earnings 1 - - 1 Included in other comprehensive income (loss) (4) 18 - 14 Purchases, issuances and settlements (3) 9 - 5 Transfers in (out) of Level 3 and reclassification of securities in/(out) investment categories - - - - Ending balance $ 709 $ 1,020 $ 16 $ 1,745 The amount of total gains or losses for the $ - $ - $ - $ - (Some amounts may not reconcile due to rounding.) Total Fixed Maturities, Available for Sale Three Months Ended March 31, 2022 Corporate Asset Backed Foreign (Dollars in millions) Securities Securities CMBS Corporate Total Beginning balance fixed maturities $ 730 $ 1,251 $ - $ 16 $ 1,997 Total gains or (losses) (realized/unrealized) Included in earnings 1 - - - 2 Included in other comprehensive income (loss) (4) (29) - - (33) Purchases, issuances and settlements (13) 166 6 - 159 Transfers in (out) of Level 3 and reclassification of securities in/(out) investment categories - - - - - Ending balance $ 715 $ 1,389 $ 6 $ 16 $ 2,125 The amount of total gains or losses for the $ - $ - $ - $ - $ - (Some amounts may not reconcile due to rounding.) There were no Financial Instruments Disclosed, But Not Reported, Certain financial tables notes can can be found within Note 13. Short-term |
Commitments And Contingencies
| Commitments And Contingencies | 3 Months Ended |
| Mar. 31, 2023 | |
| Commitments And Contingencies [Abstract] | |
| Commitments And Contingencies | 6. In the ordinary dispute resolution insurance agreement or funds or informal Company believes of these proceedings when determining its reserves Aside from litigation and arbitrations party to any other material litigation |
Comprehensive Income (Loss)
| Comprehensive Income (Loss) | 3 Months Ended |
| Mar. 31, 2023 | |
| Comprehensive Income (Loss) [Abstract] | |
| Comprehensive Income (Loss) | 7. The following operations and comprehensive income Three Months Ended March 31, 2023 (Dollars in millions) Before Tax Tax Effect Net of Tax Unrealized appreciation (depreciation) $ 142 (30) $ 112 Reclassification of net realized losses 11 (2) 9 Foreign currency translation adjustments 8 (1) 7 Reclassification of amortization of net gain - - - Total other comprehensive income (loss) $ 161 $ (33) $ 128 (Some amounts may not reconcile due to rounding) Three Months Ended March 31, 2022 (Dollars in millions) Before Tax Tax Effect Net of Tax Unrealized appreciation (depreciation) $ (499) 104 $ (394) Reclassification of net realized losses 3 (1) 2 Foreign currency translation adjustments (2) 1 (2) Reclassification of amortization of net gain 1 - 1 Total other comprehensive income (loss) $ (497) $ 104 $ (393) (Some amounts may not reconcile due to rounding) The following table presents details Three Months Ended Affected line item within the March 31, statements of operations and AOCI component 2023 2022 comprehensive income (loss) (Dollars in millions) URA(D) on securities $ 11 $ 3 Other net gains (losses) on investments (2) (1) Income tax expense (benefit) $ 9 $ 2 Net income (loss) Benefit plan net gain (loss) $ - $ 1 Other underwriting expenses - - Income tax expense (benefit) $ - $ 1 Net income (loss) (Some amounts may not reconcile due to rounding) The following table presents consolidated balance sheets for Three Months Ended March 31, (Dollars in millions) 2023 2022 Beginning balance of URA (D) on securities $ (816) $ 122 Current period change in URA (D) of investments - non-credit related 121 (392) Ending balance of URA (D) on securities (695) (270) Beginning balance of foreign currency translation adjustments 1 20 Current period change in foreign currency translation adjustments 7 (2) Ending balance of foreign currency translation adjustments 8 18 Beginning balance of benefit plan net gain (loss) (33) (50) Current period change in benefit plan net gain (loss) - 1 Ending balance of benefit plan net gain (loss) (33) (50) Ending balance of accumulated other comprehensive income (loss) $ (720) $ (302) (Some amounts may not reconcile due to rounding.) |
Collateralized Reinsurance And
| Collateralized Reinsurance And Trust Agreements | 3 Months Ended |
| Mar. 31, 2023 | |
| Collateralized Reinsurance And Trust Agreements [Abstract] | |
| Collateralized Reinsurance And Trust Agreements | 8. A investments 2023, the 751 52 cash. At 567 173 million of restricted cash. The (“Kilimanjaro”), a Bermuda coverage. events. The table below summarizes (Dollars in millions) Class Description Effective Date Expiration Date Limit Coverage Basis Series 2018-1 Class A-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/30/2018 5/5/2023 $ 63 Aggregate Series 2018-1 Class B-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/30/2018 5/5/2023 200 Aggregate Series 2019-1 Class A-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 12/12/2019 12/19/2023 150 Occurrence Series 2019-1 Class B-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 12/12/2019 12/19/2023 275 Aggregate Series 2019-1 Class A-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 12/12/2019 12/19/2024 150 Occurrence Series 2019-1 Class B-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 12/12/2019 12/19/2024 275 Aggregate Series 2021-1 Class A-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/21/2025 150 Occurrence Series 2021-1 Class B-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/21/2025 85 Aggregate Series 2021-1 Class C-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/21/2025 85 Aggregate Series 2021-1 Class A-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/20/2026 150 Occurrence Series 2021-1 Class B-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/20/2026 90 Aggregate Series 2021-1 Class C-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/20/2026 90 Aggregate Series 2022-1 Class A US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/22/2022 6/25/2025 300 Aggregate Total available limit as of March 31, 2023 $ 2,063 Recoveries estimated industry estimated authority catastrophe event retentions or aggregate Kilimanjaro has unrelated, trusts money maturity date and amount correspond |
Senior Notes
| Senior Notes | 3 Months Ended |
| Mar. 31, 2023 | |
| Senior Notes [Abstract] | |
| Senior Notes | 9. The table to limited trading activity, March 31, 2023 December 31, 2022 Consolidated Consolidated Principal Balance Sheet Fair Balance Sheet Fair (Dollars in millions) Date Issued Date Due Amounts Amount Value Amount Value 4.868 % Senior notes 06/05/2014 06/01/2044 400 $ 397 $ 373 $ 397 $ 343 3.5 % Senior notes 10/07/2020 10/15/2050 1,000 981 728 981 677 3.125 % Senior notes 10/04/2021 10/15/2052 1,000 969 677 969 627 2,400 $ 2,348 $ 1,778 $ 2,347 $ 1,647 Interest expense incurred in Three Months Ended March 31, (Dollars in millions) Interest Paid Payable Dates 2023 2022 4.868% Senior notes semi-annually June 1/December 1 $ 5 $ 5 3.5% Senior notes semi-annually April 15/October 15 9 9 3.125% Senior notes semi-annually April 15/October 15 8 8 $ 22 $ 22 |
Long Term Subordinated Notes
| Long Term Subordinated Notes | 3 Months Ended |
| Mar. 31, 2023 | |
| Long Term Subordinated Notes [Abstract] | |
| Long Term Subordinated Notes | 10. The table based on 2 in the fair value hierarchy. March 31, 2023 December 31, 2022 Original Consolidated Consolidated Principal Maturity Date Balance Fair Balance Fair (Dollars in millions) Date Issued Amount Scheduled Final Sheet Amount Value Sheet Amount Value Long term subordinated notes 04/26/2007 $ 400 05/15/2037 05/01/2067 $ 218 $ 197 $ 218 $ 187 During the May 3, 2007 May 14, 2017 , interest 6.6 %, payable November 15, 2007 . month 238.5 August 15 and November one up ten consecutive years . quarterly May 14, 2023 is 7.25 %. Holdings may May 15, 2017 , in 100 % of the principal date May 1, 2047 certain senior note debt 4.868 % notes, due June 1, 2044 , 3.5 % senior October 15, 2050 3.125 % senior October 15, 2052 In 2009, the of a cash tender offer for any Interest indicated: Three Months Ended March 31, (Dollars in millions) 2023 2022 Interest expense incurred $ 4 $ 2 |
Federal Home Loan Bank Membersh
| Federal Home Loan Bank Membership | 3 Months Ended |
| Mar. 31, 2023 | |
| Federal Home Loan Bank Membership [Abstract] | |
| Federal Home Loan Bank Membership | 11. Everest borrow 10 % approximately $ 23.1 2.3 2023, 519 interest expense 6 0.7 The 4.5 % membership stock. |
Segment Reporting
| Segment Reporting | 3 Months Ended |
| Mar. 31, 2023 | |
| Segment Reporting [Abstract] | |
| Segment Reporting | 12. The Reinsurance both Business operation agents within the United States. These segments management, Management generally monitors their underwriting results. Underwriting and other commission commissions and brokerage The Company data. The following tables present the underwriting Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 (Dollars in millions) Reinsurance Insurance Total Reinsurance Insurance Total Gross written premiums $ 1,643 $ 852 $ 2,496 $ 1,380 $ 825 $ 2,205 Net written premiums 1,373 690 2,063 1,185 611 1,796 Premiums earned $ 1,367 $ 702 $ 2,068 $ 1,209 $ 619 $ 1,829 Incurred losses and LAE 929 465 1,394 820 405 1,226 Commission and brokerage 361 76 436 315 69 385 Other underwriting expenses 39 100 139 31 87 118 Underwriting gain (loss) $ 38 $ 61 $ 99 $ 43 $ 58 $ 101 Net investment income 190 156 Net gains (losses) on investments 22 (227) Corporate expense (6) (6) Interest, fee and bond issue cost amortization expense (32) (24) Other income (expense) (4) (9) Income (loss) before taxes $ 269 $ (9) (Some amounts may not reconcile due to rounding) |
Related-Party Transactions
| Related-Party Transactions | 3 Months Ended |
| Mar. 31, 2023 | |
| Related Party Transactions [Abstract] | |
| Related-Party Transactions | 13. The table below displays long-term note indicated. Holdings. Fair value of these long-term notes March 31, 2023 December 31, 2022 Consolidated Consolidated Principal Balance Sheet Fair Balance Sheet Fair (Dollars in millions) Date Issued Date Due Amounts Amount Value Amount Value 1.69 % Long-term Note 12/17/2019 12/17/2028 300 $ 300 $ 242 $ 300 $ 242 1.00 % Long-term Note 08/05/2021 08/05/2030 200 200 151 200 151 3.11 % Long-term Note 06/14/2022 06/14/2052 215 215 171 215 171 4.34 % Long-term Note 12/12/2022 12/12/2052 125 125 125 125 125 840 $ 840 $ 689 $ 840 $ 689 (Some amounts may not reconcile due to rounding.) Interest income recognized Three Months Ended March 31, (Dollars in millions) Interest Received Receivable Dates 2023 2022 1.69 % Long-term Note annually December 17 $ 1 $ 1 1.00 % Long-term Note annually August 5 1 1 3.11 % Long-term Note annually June 14 2 - 4.34 % Long-term Note annually December 12 1 - $ 5 $ 2 (Some amounts may not reconcile due Holdings 1,773.214 1 1.75 % dividend 9,719,971 Common Shares in Group. the investments presents reported as net investment for the period indicated. Three Months Ended March 31, (Dollars in millions) 2023 2022 Dividends received on preferred stock of affiliate $ 8 $ 8 Affiliates The Company dac (“Everest Mt. considerations under which business The new and renewal business for the indicated (Dollars in millions) Single Percent Assuming Occurrence Aggregate Coverage Period Ceding Company Ceded Company Type of Business Limit Limit 01/01/2010-12/31/2010 Everest Re 44.0 % Bermuda Re property / casualty business 150 325 01/01/2011-12/31/2011 Everest Re 50.0 % Bermuda Re property / casualty business 150 300 01/01/2012-12/31/2014 Everest Re 50.0 % Bermuda Re property / casualty business 100 200 01/01/2015-12/31/2016 Everest Re 50.0 % Bermuda Re property / casualty business 163 325 01/01/2017-12/31/2017 Everest Re 60.0 % Bermuda Re property / casualty business 219 438 01/01/2010-12/31/2010 Everest Re- Canadian Branch 60.0 % Bermuda Re property business 350 (1) - 01/01/2011-12/31/2011 Everest Re- Canadian Branch 60.0 % Bermuda Re property business 350 (1) - 01/01/2012-12/31/2012 Everest Re- Canadian Branch 75.0 % Bermuda Re property / casualty business 206 (1) 413 (1) 01/01/2013-12/31/2013 Everest Re- Canadian Branch 75.0 % Bermuda Re property / casualty business 150 (1) 413 (1) 01/01/2014-12/31/2017 Everest Re- Canadian Branch 75.0 % Bermuda Re property / casualty business 263 (1) 413 (1) 01/01/2012-12/31/2017 Everest Canada 80.0 % Everest Re- Canadian Branch property business - - 01/01/2020 Everest International Assurance 100.0 % Bermuda Re life business - - (1) Amounts shown are Canadian dollars. Effective contract losses conditions. Everest January 110 million of reinsurance 29 Everest Re £ 4 Everest 2023 through 121 for each catastrophe 18 10 Everest Re through January 31, 2024. The contract 61 catastrophe occurrence above 139 2 The exposures and reserves were (Dollars in millions) Effective Transferring Assuming % of Business or Covered Period Date Company Company Amount of Transfer of Transfer 10/01/2001 Everest Re (Belgium Branch) Bermuda Re 100 % All years 10/01/2008 Everest Re Bermuda Re $ 747 01/01/2002-12/31/2007 12/31/2017 Everest Re Bermuda Re $ 970 All years On December 31, subject 2.3 Company transferred 1.0 970 to 500 development coverage has a reinsurance recoverable 803.6 803.7 from Bermuda Re. The affiliated entities: Three Months Ended Bermuda Re March 31, (Dollars in millions) 2023 2022 Ceded written premiums $ 106 $ 92 Ceded earned premiums 106 92 Ceded losses and LAE (4) (2) Assumed written premiums - 2 Assumed earned premiums - 3 Assumed losses and LAE - - Three Months Ended Ireland Re March 31, (Dollars in millions) 2023 2022 Assumed written premiums $ 3 $ 2 Assumed earned premiums 3 3 Assumed losses and LAE - 2 Three Months Ended Ireland Insurance March 31, (Dollars in millions) 2023 2022 Assumed written premiums $ 1 $ 2 Assumed earned premiums 2 2 Assumed losses and LAE 1 6 The segregated accounts. Three Months Ended Mt. Logan Re Segregated Accounts March 31, (Dollars in millions) 2023 2022 Ceded written premiums $ 42 $ 41 Ceded earned premiums 38 42 Ceded losses and LAE 13 37 |
Income Taxes
| Income Taxes | 3 Months Ended |
| Mar. 31, 2023 | |
| Income Taxes [Abstract] | |
| Income Taxes | 14. The significant branches varying rates in their respective The Company generally applies interim approach, determine quarter period less such all known events in its estimation of the Company’s On August 16, 2022, the Inflation Reduction of excise tax and do not expect additional guidance, we will evaluate any |
Subsequent Events
| Subsequent Events | 3 Months Ended |
| Mar. 31, 2023 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | 15. The have any subsequent |
Investments (Tables)
| Investments (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Investments [Abstract] | |
| Summary Of Amortized Cost, Allowance For Credit Losses, Gross Unrealized Appreciation/(Depreciation) And Fair Value Of Fixed Maturity Securities | At March 31, 2023 Amortized Allowances for Unrealized Unrealized Fair (Dollars in millions) Cost Credit Losses Appreciation Depreciation Value Fixed maturity securities – available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 543 $ - $ - $ (33) $ 510 Obligations of U.S. states and political 424 - 2 (28) 398 Corporate securities 4,088 (55) 15 (288) 3,759 Asset-backed securities 4,455 - 5 (124) 4,335 Mortgage-backed securities Commercial 569 - - (58) 511 Agency residential 1,853 - 9 (143) 1,719 Non-agency residential 3 - - - 3 Foreign government securities 691 - 2 (50) 643 Foreign corporate securities 1,680 (1) 5 (146) 1,537 Total fixed maturity securities - available for sale $ 14,304 $ (56) $ 37 $ (871) $ 13,414 (Some amounts may not reconcile due to rounding.) At December 31, 2022 Amortized Allowances for Unrealized Unrealized Fair (Dollars in millions) Cost Credit Losses Appreciation Depreciation Value Fixed maturity securities – available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 575 $ - $ - $ (40) $ 535 Obligations of U.S. states and political 444 - 2 (32) 413 Corporate securities 3,913 (45) 14 (322) 3,561 Asset-backed securities 4,111 - 5 (165) 3,951 Mortgage-backed securities Commercial 569 - - (59) 509 Agency residential 1,792 - 3 (167) 1,628 Non-agency residential 3 - - - 3 Foreign government securities 696 - 2 (61) 637 Foreign corporate securities 1,597 (1) 4 (167) 1,433 Total fixed maturity securities - available for sale $ 13,699 $ (46) $ 30 $ (1,013) $ 12,671 (Some amounts may not reconcile due to rounding.) At March 31, 2023 Amortized Allowances for Unrealized Unrealized Fair (Dollars in millions) Cost Credit Loss Appreciation Depreciation Value Fixed maturity securities – held to maturity Corporate securities $ 152 $ (2) $ 1 $ (3) $ 148 Asset-backed securities 612 (6) 1 (12) 596 Mortgage-backed securities Commercial 14 - - - 13 Foreign corporate securities 28 (1) 2 - 29 Total fixed maturity securities - held to maturity $ 806 $ (9) $ 4 $ (15) $ 787 (Some amounts may not reconcile due to rounding.) At December 31, 2022 Amortized Allowances for Unrealized Unrealized Fair (Dollars in millions) Cost Credit Loss Appreciation Depreciation Value Fixed maturity securities – held to maturity Corporate securities $ 152 $ (2) $ - $ (6) $ 144 Asset-backed securities 634 (6) 2 (15) 614 Mortgage-backed securities Commercial 7 - - - 7 Foreign corporate securities 28 (1) 2 - 28 Total fixed maturity securities - held to maturity $ 820 $ (9) $ 3 $ (22) $ 793 (Some amounts may not reconcile due to rounding.) |
| Summary Of Amortized Cost And Fair Value Of Fixed Maturity Securities, By Contractual Maturity | At March 31, 2023 At December 31, 2022 Amortized Fair Amortized Fair (Dollars in millions) Cost Value Cost Value Fixed maturity securities – available for sale $ 719 $ 694 $ 581 $ 563 3,687 3,461 3,684 3,429 1,981 1,787 2,003 1,760 1,038 905 958 827 Asset-backed securities 4,455 4,335 4,111 3,951 Mortgage-backed securities Commercial 569 511 569 509 Agency residential 1,853 1,719 1,792 1,628 Non-agency residential 3 3 3 3 Total fixed maturity securities - available for sale $ 14,304 $ 13,414 $ 13,699 $ 12,671 (Some amounts may not reconcile due to rounding.) At March 31, 2023 At December 31, 2022 Amortized Fair Amortized Fair (Dollars in millions) Cost Value Cost Value Fixed maturity securities – held to maturity: $ 5 $ 5 $ 5 $ 5 63 63 63 61 43 42 43 41 68 67 68 65 Asset-backed securities 612 596 634 614 Mortgage-backed securities Commercial 14 13 7 7 Total fixed maturity securities - held to maturity $ 806 $ 787 $ 820 $ 793 (Some amounts may not reconcile due to rounding.) |
| Summary Of Changes In Net Unrealized Appreciation (Depreciation) For The Company's Investments | Three Months Ended March 31, (Dollars in millions) 2023 2022 Increase (decrease) during the period between the fair value and cost of Fixed maturity securities - available for sale and short-term investments $ 153 $ (496) Change in unrealized appreciation (depreciation), pre-tax 153 (496) Deferred tax benefit (expense) (32) 104 Change in unrealized appreciation (depreciation), net of deferred taxes, $ 121 $ (392) (Some amounts may not reconcile due to rounding.) |
| 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, 2023 By Security Type Less than 12 months Greater than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in millions) Value Depreciation Value Depreciation Value Depreciation Fixed maturity securities - available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 153 $ (3) $ 348 $ (30) $ 501 $ (33) Obligations of U.S. states and political subdivisions 113 (6) 119 (22) 232 (28) Corporate securities 1,255 (52) 1,814 (235) 3,069 (287) Asset-backed securities 1,614 (37) 1,819 (87) 3,434 (124) Mortgage-backed securities Commercial 170 (11) 334 (47) 504 (58) Agency residential 589 (24) 749 (119) 1,338 (143) Non-agency residential - - 3 - 3 - Foreign government securities 171 (5) 406 (45) 578 (50) Foreign corporate securities 478 (18) 905 (128) 1,383 (146) Total $ 4,543 $ (157) $ 6,499 $ (713) $ 11,042 $ (870) Securities where an allowance for credit loss was recorded 2 (1) 1 (1) 3 (1) Total fixed maturity securities - available for sale $ 4,545 $ (158) $ 6,499 $ (713) $ 11,045 $ (871) (Some amounts may not reconcile due to rounding.) Duration of Unrealized Loss at December 31, 2022 By Security Type Less than 12 months Greater than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in millions) Value Depreciation Value Depreciation Value Depreciation Fixed maturity securities - available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 290 $ (14) $ 245 $ (26) $ 535 $ (40) Obligations of U.S. states and political subdivisions 235 (23) 27 (9) 261 (32) Corporate securities 2,138 (175) 841 (146) 2,979 (321) Asset-backed securities 3,120 (138) 436 (27) 3,556 (165) Mortgage-backed securities Commercial 464 (50) 36 (9) 500 (59) Agency residential 852 (54) 605 (113) 1,456 (167) Non-agency residential 2 - 1 - 3 - Foreign government securities 455 (36) 144 (25) 599 (61) Foreign corporate securities 967 (100) 365 (67) 1,332 (167) Total $ 8,522 $ (591) $ 2,698 $ (421) $ 11,220 $ (1,012) Securities where an allowance for credit loss was recorded 2 (1) - - 2 (1) Total fixed maturity securities - available for sale $ 8,524 $ (591) $ 2,698 $ (421) $ 11,222 $ (1,013) (Some amounts may not reconcile due to rounding.) |
| 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, 2023 By Maturity Less than 12 months Greater than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in millions) Value Depreciation Value Depreciation Value Depreciation Fixed maturity securities - available for sale Due in one year or less $ 485 $ (7) $ 111 $ (9) $ 596 $ (17) Due in one year through five years 893 (31) 2,073 (192) 2,966 (223) Due in five years through ten years 542 (31) 965 (169) 1,507 (200) Due after ten years 249 (15) 445 (90) 694 (105) Asset-backed securities 1,614 (37) 1,819 (87) 3,434 (124) Mortgage-backed securities 759 (36) 1,086 (166) 1,845 (201) Total $ 4,543 $ (157) $ 6,499 $ (713) $ 11,042 $ (870) Securities where an allowance for credit loss was recorded 2 (1) 1 (1) 3 (1) Total fixed maturity securities - available for sale $ 4,545 $ (158) $ 6,499 $ (713) $ 11,045 $ (871) (Some amounts may not reconcile due to rounding.) Duration of Unrealized Loss at December 31, 2022 By Maturity Less than 12 months Greater than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in millions) Value Depreciation Value Depreciation Value Depreciation Fixed maturity securities - available for sale Due in one year or less $ 463 $ (8) $ 29 $ (4) $ 491 $ (11) Due in one year through five years 2,020 (143) 936 (107) 2,956 (250) Due in five years through ten years 1,162 (148) 395 (98) 1,557 (246) Due after ten years 439 (50) 262 (64) 701 (114) Asset-backed securities 3,120 (138) 436 (27) 3,556 (165) Mortgage-backed securities 1,318 (105) 641 (122) 1,959 (226) Total $ 8,522 $ (591) $ 2,698 $ (421) $ 11,220 $ (1,012) Securities where an allowance for credit loss was recorded 2 (1) - - 2 (1) Total fixed maturity securities - available for sale $ 8,524 $ (591) $ 2,698 $ (421) $ 11,222 $ (1,013) (Some amounts may not reconcile due to rounding.) |
| Summary Of Components Of Net Investment Income | Three Months Ended March 31, (Dollars in millions) 2023 2022 Fixed maturities $ 174 $ 94 Equity securities 1 4 Short-term investments and cash 11 - Other invested assets Limited partnerships (24) 44 Dividends from preferred shares of affiliate 8 8 Other 22 12 Gross investment income before adjustments 192 162 Funds held interest income (expense) 3 3 Interest income from Parent 5 2 Gross investment income 200 166 Investment expenses (10) (10) Net investment income $ 190 $ 156 (Some amounts may not reconcile due to rounding.) |
| Summary Of Components Of Net Realized Capital Gains (Losses) | Three Months Ended March 31, (Dollars in millions) 2023 2022 Fixed maturity securities: Allowances for credit losses $ (10) $ (2) Net realized gains (losses) from dispositions (1) (5) Equity securities, fair value: Net realized gains (losses) from dispositions 7 (8) Gains (losses) from fair value adjustments 3 (131) Other invested assets - 4 Other invested assets, fair value: Gains (losses) from fair value adjustments 24 (85) Total net gains (losses) on investments $ 22 $ (227) (Some amounts may not reconcile due to rounding.) |
| Summary Of Beginning And Ending Balance Of Allowance For Credit Losses | Roll Forward of Allowance for Credit Losses - Fixed Maturities - Available for Sale Three Months Ended March 31, 2023 Foreign Corporate Securities Corporate Securities Total (Dollars in millions) Beginning Balance $ (45) $ (1) $ (46) Credit losses on securities where credit losses were not previously recorded (12) - (12) Increases in allowance on previously impaired securities - - - Decreases in allowance on previously impaired securities - - - Reduction in allowance due to disposals 2 - 2 Balance, end of period $ (55) $ (1) $ (56) (Some amounts may not reconcile due to rounding.) Roll Forward of Allowance for Credit Losses - Fixed Maturities - Held to Maturity Three Months Ended March 31, 2023 Asset Foreign Corporate Backed Corporate Securities Securities Securities Total (Dollars in millions) Beginning Balance $ (2) $ (6) $ (1) $ (9) Credit losses on securities where credit losses were not previously recorded - - - - Increases in allowance on previously impaired securities - - - - Decreases in allowance on previously impaired securities - - - - Reduction in allowance due to disposals - - - - Balance, end of period $ (2) $ (6) $ (1) $ (9) (Some amounts may not reconcile due to rounding.) Roll Forward of Allowance for Credit Losses - Fixed Maturities - Available for Sale Three Months Ended March 31, 2022 Asset Foreign Corporate Backed Corporate Securities Securities Securities Total (Dollars in millions) Beginning Balance $ (19) $ (8) $ - $ (27) Credit losses on securities where credit losses were not previously recorded (2) - (1) (3) Increases in allowance on previously impaired securities - - - - Decreases in allowance on previously impaired securities - - - - Reduction in allowance due to disposals 1 - - 1 Balance, end of period $ (20) $ (8) $ (1) $ (29) (Some amounts may not reconcile due to rounding.) |
| Summary Of Gross Gains (Losses) From Sales Of Fixed Maturity And Equity Securities | Three Months Ended March 31, (Dollars in millions) 2023 2022 Proceeds from sales of fixed maturity securities, available for sale $ 49 $ 267 Gross gains from dispositions 3 3 Gross losses from dispositions (4) (8) Proceeds from sales of equity securities $ 46 $ 82 Gross gains from dispositions 7 4 Gross losses from dispositions - (12) (Some amounts may not reconcile due to rounding.) |
Reserves For Losses, LAE And _2
| Reserves For Losses, LAE And Future Policy Benefit Reserve (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Reserves For Losses, LAE And Future Policy Benefit Reserve [Abstract] | |
| Summary Of Activity In The Reserve For Losses And LAE | Three Months Ended March 31, (Dollars in millions) 2023 2022 Gross reserves beginning of period $ 14,977 $ 13,121 Less reinsurance recoverables on unpaid losses (3,684) (3,651) Net reserves beginning of period 11,293 9,470 Incurred related to: Current year 1,403 1,219 Prior years (9) 7 Total incurred losses and LAE 1,394 1,226 Paid related to: Current year 585 248 Prior years 379 676 Total paid losses and LAE 964 924 Foreign exchange/translation adjustment 5 7 Net reserves end of period 11,729 9,778 Plus reinsurance recoverables on unpaid losses 3,586 3,625 Gross reserves end of period $ 15,315 $ 13,404 (Some amounts may not reconcile due to rounding.) |
Fair Value (Tables)
| Fair Value (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Fair Value [Abstract] | |
| Fair Value Measurement Levels For All Assets, Recorded At Fair And Market Value | Fair Value Measurement Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in millions) March 31, 2023 (Level 1) (Level 2) (Level 3) Assets: Fixed maturities, available for sale U.S. Treasury securities and obligations of $ 510 $ - $ 510 $ - Obligations of U.S. states and political subdivisions 398 - 398 - Corporate securities 3,759 - 3,050 709 Asset-backed securities 4,335 - 3,315 1,020 Mortgage-backed securities Commercial 511 - 511 - Agency residential 1,719 - 1,719 - Non-agency residential 3 - 3 - Foreign government securities 643 - 643 - Foreign corporate securities 1,537 - 1,521 16 Total fixed maturities, available for sale 13,414 - 11,669 1,745 Equity securities, fair value 158 140 19 - Other invested assets, fair value 1,497 - - 1,497 (Some amounts may not reconcile due to rounding.) Fair Value Measurement Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in millions) December 31, 2022 (Level 1) (Level 2) (Level 3) Assets: Fixed maturities, available for sale U.S. Treasury securities and obligations of $ 535 $ - $ 535 $ - Obligations of U.S. states and political subdivisions 413 - 413 - Corporate securities 3,561 - 2,846 715 Asset-backed securities 3,951 - 2,957 994 Mortgage-backed securities Commercial 509 - 509 - Agency residential 1,628 - 1,628 - Non-agency residential 3 - 3 - Foreign government securities 637 - 637 - Foreign corporate securities 1,433 - 1,417 16 Total fixed maturities, available for sale 12,671 - 10,946 1,725 Equity securities, fair value 194 132 63 - Other invested assets, fair value 1,472 - - 1,472 (Some amounts may not reconcile due to rounding.) |
| Activity Under Level 3, Fair Value Measurements Using Significant Unobservable Inputs By Asset Type | Total Fixed Maturities - Available for Sale Three Months Ended March 31, 2023 Corporate Asset Backed Foreign (Dollars in millions) Securities Securities Corporate Total Beginning balance fixed maturities $ 715 $ 994 $ 16 $ 1,725 Total gains or (losses) (realized/unrealized) Included in earnings 1 - - 1 Included in other comprehensive income (loss) (4) 18 - 14 Purchases, issuances and settlements (3) 9 - 5 Transfers in (out) of Level 3 and reclassification of securities in/(out) investment categories - - - - Ending balance $ 709 $ 1,020 $ 16 $ 1,745 The amount of total gains or losses for the $ - $ - $ - $ - (Some amounts may not reconcile due to rounding.) Total Fixed Maturities, Available for Sale Three Months Ended March 31, 2022 Corporate Asset Backed Foreign (Dollars in millions) Securities Securities CMBS Corporate Total Beginning balance fixed maturities $ 730 $ 1,251 $ - $ 16 $ 1,997 Total gains or (losses) (realized/unrealized) Included in earnings 1 - - - 2 Included in other comprehensive income (loss) (4) (29) - - (33) Purchases, issuances and settlements (13) 166 6 - 159 Transfers in (out) of Level 3 and reclassification of securities in/(out) investment categories - - - - - Ending balance $ 715 $ 1,389 $ 6 $ 16 $ 2,125 The amount of total gains or losses for the $ - $ - $ - $ - $ - (Some amounts may not reconcile due to rounding.) |
Comprehensive Income (Loss) (Ta
| Comprehensive Income (Loss) (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Comprehensive Income (Loss) [Abstract] | |
| Components Of Comprehensive Income (Loss) In The Consolidated Statements Of Operations | Three Months Ended March 31, 2023 (Dollars in millions) Before Tax Tax Effect Net of Tax Unrealized appreciation (depreciation) $ 142 (30) $ 112 Reclassification of net realized losses 11 (2) 9 Foreign currency translation adjustments 8 (1) 7 Reclassification of amortization of net gain - - - Total other comprehensive income (loss) $ 161 $ (33) $ 128 (Some amounts may not reconcile due to rounding) Three Months Ended March 31, 2022 (Dollars in millions) Before Tax Tax Effect Net of Tax Unrealized appreciation (depreciation) $ (499) 104 $ (394) Reclassification of net realized losses 3 (1) 2 Foreign currency translation adjustments (2) 1 (2) Reclassification of amortization of net gain 1 - 1 Total other comprehensive income (loss) $ (497) $ 104 $ (393) (Some amounts may not reconcile due to rounding) |
| Reclassification From Accumulated Other Comprehensive Income | Three Months Ended Affected line item within the March 31, statements of operations and AOCI component 2023 2022 comprehensive income (loss) (Dollars in millions) URA(D) on securities $ 11 $ 3 Other net gains (losses) on investments (2) (1) Income tax expense (benefit) $ 9 $ 2 Net income (loss) Benefit plan net gain (loss) $ - $ 1 Other underwriting expenses - - Income tax expense (benefit) $ - $ 1 Net income (loss) (Some amounts may not reconcile due to rounding) |
| Components Of Accumulated Other Comprehensive Income (Loss), Net Of Tax, In The Consolidated Balance Sheets | Three Months Ended March 31, (Dollars in millions) 2023 2022 Beginning balance of URA (D) on securities $ (816) $ 122 Current period change in URA (D) of investments - non-credit related 121 (392) Ending balance of URA (D) on securities (695) (270) Beginning balance of foreign currency translation adjustments 1 20 Current period change in foreign currency translation adjustments 7 (2) Ending balance of foreign currency translation adjustments 8 18 Beginning balance of benefit plan net gain (loss) (33) (50) Current period change in benefit plan net gain (loss) - 1 Ending balance of benefit plan net gain (loss) (33) (50) Ending balance of accumulated other comprehensive income (loss) $ (720) $ (302) (Some amounts may not reconcile due to rounding.) |
Collateralized Reinsurance An_2
| Collateralized Reinsurance And Trust Agreements (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Collateralized Reinsurance And Trust Agreements [Abstract] | |
| Summary Of Collateralized Reinsurance Agreements | (Dollars in millions) Class Description Effective Date Expiration Date Limit Coverage Basis Series 2018-1 Class A-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/30/2018 5/5/2023 $ 63 Aggregate Series 2018-1 Class B-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/30/2018 5/5/2023 200 Aggregate Series 2019-1 Class A-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 12/12/2019 12/19/2023 150 Occurrence Series 2019-1 Class B-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 12/12/2019 12/19/2023 275 Aggregate Series 2019-1 Class A-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 12/12/2019 12/19/2024 150 Occurrence Series 2019-1 Class B-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 12/12/2019 12/19/2024 275 Aggregate Series 2021-1 Class A-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/21/2025 150 Occurrence Series 2021-1 Class B-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/21/2025 85 Aggregate Series 2021-1 Class C-1 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/21/2025 85 Aggregate Series 2021-1 Class A-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/20/2026 150 Occurrence Series 2021-1 Class B-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/20/2026 90 Aggregate Series 2021-1 Class C-2 US, Canada, Puerto Rico – Named Storm and Earthquake Events 4/8/2021 4/20/2026 90 Aggregate Series 2022-1 Class A US, Canada, Puerto Rico – Named Storm and Earthquake Events 6/22/2022 6/25/2025 300 Aggregate Total available limit as of March 31, 2023 $ 2,063 |
Senior Notes (Tables)
| Senior Notes (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Senior Notes [Abstract] | |
| Schedule Of Outstanding Senior Notes | March 31, 2023 December 31, 2022 Consolidated Consolidated Principal Balance Sheet Fair Balance Sheet Fair (Dollars in millions) Date Issued Date Due Amounts Amount Value Amount Value 4.868 % Senior notes 06/05/2014 06/01/2044 400 $ 397 $ 373 $ 397 $ 343 3.5 % Senior notes 10/07/2020 10/15/2050 1,000 981 728 981 677 3.125 % Senior notes 10/04/2021 10/15/2052 1,000 969 677 969 627 2,400 $ 2,348 $ 1,778 $ 2,347 $ 1,647 |
| Schedule Of Interest Expense Incurred In Connection With Senior Notes | Three Months Ended March 31, (Dollars in millions) Interest Paid Payable Dates 2023 2022 4.868% Senior notes semi-annually June 1/December 1 $ 5 $ 5 3.5% Senior notes semi-annually April 15/October 15 9 9 3.125% Senior notes semi-annually April 15/October 15 8 8 $ 22 $ 22 |
Long Term Subordinated Notes (T
| Long Term Subordinated Notes (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Long Term Subordinated Notes [Abstract] | |
| Schedule Of Outstanding Fixed To Floating Rate Long Term Subordinated Notes | March 31, 2023 December 31, 2022 Original Consolidated Consolidated Principal Maturity Date Balance Fair Balance Fair (Dollars in millions) Date Issued Amount Scheduled Final Sheet Amount Value Sheet Amount Value Long term subordinated notes 04/26/2007 $ 400 05/15/2037 05/01/2067 $ 218 $ 197 $ 218 $ 187 |
| Schedule Of Interest Expense Incurred In Connection With Long Term Subordinated Notes | Three Months Ended March 31, (Dollars in millions) 2023 2022 Interest expense incurred $ 4 $ 2 |
Segment Reporting (Tables)
| Segment Reporting (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Segment Reporting [Abstract] | |
| Schedule Of Underwriting Results For Operating Segments | Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 (Dollars in millions) Reinsurance Insurance Total Reinsurance Insurance Total Gross written premiums $ 1,643 $ 852 $ 2,496 $ 1,380 $ 825 $ 2,205 Net written premiums 1,373 690 2,063 1,185 611 1,796 Premiums earned $ 1,367 $ 702 $ 2,068 $ 1,209 $ 619 $ 1,829 Incurred losses and LAE 929 465 1,394 820 405 1,226 Commission and brokerage 361 76 436 315 69 385 Other underwriting expenses 39 100 139 31 87 118 Underwriting gain (loss) $ 38 $ 61 $ 99 $ 43 $ 58 $ 101 Net investment income 190 156 Net gains (losses) on investments 22 (227) Corporate expense (6) (6) Interest, fee and bond issue cost amortization expense (32) (24) Other income (expense) (4) (9) Income (loss) before taxes $ 269 $ (9) (Some amounts may not reconcile due to rounding) |
Related-Party Transactions (Tab
| Related-Party Transactions (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Related Party Transactions [Abstract] | |
| Schedule Of Related-Party Long-Term Notes | March 31, 2023 December 31, 2022 Consolidated Consolidated Principal Balance Sheet Fair Balance Sheet Fair (Dollars in millions) Date Issued Date Due Amounts Amount Value Amount Value 1.69 % Long-term Note 12/17/2019 12/17/2028 300 $ 300 $ 242 $ 300 $ 242 1.00 % Long-term Note 08/05/2021 08/05/2030 200 200 151 200 151 3.11 % Long-term Note 06/14/2022 06/14/2052 215 215 171 215 171 4.34 % Long-term Note 12/12/2022 12/12/2052 125 125 125 125 125 840 $ 840 $ 689 $ 840 $ 689 (Some amounts may not reconcile due to rounding.) |
| Schedule Of Related-Party Interest Income | Three Months Ended March 31, (Dollars in millions) Interest Received Receivable Dates 2023 2022 1.69 % Long-term Note annually December 17 $ 1 $ 1 1.00 % Long-term Note annually August 5 1 1 3.11 % Long-term Note annually June 14 2 - 4.34 % Long-term Note annually December 12 1 - $ 5 $ 2 (Some amounts may not reconcile due |
| Dividends Received On Preferred Shares | Three Months Ended March 31, (Dollars in millions) 2023 2022 Dividends received on preferred stock of affiliate $ 8 $ 8 |
| Affiliated Quota Share Reinsurance Agreements For All New And Renewal Business For The Indicated Coverage Period | (Dollars in millions) Single Percent Assuming Occurrence Aggregate Coverage Period Ceding Company Ceded Company Type of Business Limit Limit 01/01/2010-12/31/2010 Everest Re 44.0 % Bermuda Re property / casualty business 150 325 01/01/2011-12/31/2011 Everest Re 50.0 % Bermuda Re property / casualty business 150 300 01/01/2012-12/31/2014 Everest Re 50.0 % Bermuda Re property / casualty business 100 200 01/01/2015-12/31/2016 Everest Re 50.0 % Bermuda Re property / casualty business 163 325 01/01/2017-12/31/2017 Everest Re 60.0 % Bermuda Re property / casualty business 219 438 01/01/2010-12/31/2010 Everest Re- Canadian Branch 60.0 % Bermuda Re property business 350 (1) - 01/01/2011-12/31/2011 Everest Re- Canadian Branch 60.0 % Bermuda Re property business 350 (1) - 01/01/2012-12/31/2012 Everest Re- Canadian Branch 75.0 % Bermuda Re property / casualty business 206 (1) 413 (1) 01/01/2013-12/31/2013 Everest Re- Canadian Branch 75.0 % Bermuda Re property / casualty business 150 (1) 413 (1) 01/01/2014-12/31/2017 Everest Re- Canadian Branch 75.0 % Bermuda Re property / casualty business 263 (1) 413 (1) 01/01/2012-12/31/2017 Everest Canada 80.0 % Everest Re- Canadian Branch property business - - 01/01/2020 Everest International Assurance 100.0 % Bermuda Re life business - - (1) Amounts shown are Canadian dollars. |
| Schedule Of Loss Portfolio Transfer Reinsurance Agreements, Net Insurance Exposures And Reserves Were Transferred To An Affiliate | (Dollars in millions) Effective Transferring Assuming % of Business or Covered Period Date Company Company Amount of Transfer of Transfer 10/01/2001 Everest Re (Belgium Branch) Bermuda Re 100 % All years 10/01/2008 Everest Re Bermuda Re $ 747 01/01/2002-12/31/2007 12/31/2017 Everest Re Bermuda Re $ 970 All years |
| Premiums And Losses Ceded By The Company To Affiliate | Three Months Ended Bermuda Re March 31, (Dollars in millions) 2023 2022 Ceded written premiums $ 106 $ 92 Ceded earned premiums 106 92 Ceded losses and LAE (4) (2) Assumed written premiums - 2 Assumed earned premiums - 3 Assumed losses and LAE - - Three Months Ended Ireland Re March 31, (Dollars in millions) 2023 2022 Assumed written premiums $ 3 $ 2 Assumed earned premiums 3 3 Assumed losses and LAE - 2 Three Months Ended Ireland Insurance March 31, (Dollars in millions) 2023 2022 Assumed written premiums $ 1 $ 2 Assumed earned premiums 2 2 Assumed losses and LAE 1 6 Three Months Ended Mt. Logan Re Segregated Accounts March 31, (Dollars in millions) 2023 2022 Ceded written premiums $ 42 $ 41 Ceded earned premiums 38 42 Ceded losses and LAE 13 37 |
Investments (Narrative) (Detail
| Investments (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
| Mar. 31, 2023 | Dec. 31, 2022 | |
| Schedule of Available-for-sale Securities [Line Items] | ||
| Reclassification of specific investments from fixed maturity securities, available for sale at fair value to fixed maturity securities, held to maturity at amortized cost net of credit allowances | $ 722 | |
| Unrealized loss from transfer | $ (48) | |
| Additional contractual commitments | $ 931 | |
| Contractual commitments, investment period expiration date | 2027 | |
| Fair Value | $ 13,414 | 12,671 |
| Maximum exposure to loss | 2,820 | 2,750 |
| Commitments to fund investments | 869 | |
| Fixed maturities - held to maturity, at amortized cost, net of credit allowances, fair value | 787 | 793 |
| Fixed maturities - held to maturity, at amortized cost, credit allowances | 9 | 9 |
| Other invested assets | 2,816 | 2,754 |
| Policy Cash Surrender Value [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Other invested assets | 954 | 939 |
| Fixed Maturity Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fair value of investments in unrealized loss position | 11,045 | 11,222 |
| Gross unrealized losses on investments in unrealized loss position | 871 | 1,013 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 4,545 | 8,524 |
| Fixed maturity securities, duration of unrealized loss, less than 12 months, gross unrealized depreciation | 158 | 591 |
| Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation | 713 | 421 |
| Fair Value | 13,414 | 12,671 |
| Fixed maturities - held to maturity, at amortized cost | 806 | 820 |
| Fixed maturities - held to maturity, at amortized cost, net of credit allowances, fair value | 787 | 793 |
| Fixed maturities - held to maturity, gross unrealized appreciation | 4 | 3 |
| Fixed maturities - held to maturity, gross unrealized depreciation | 15 | 22 |
| Fixed maturities - held to maturity, at amortized cost, credit allowances | $ 9 | $ 9 |
| Fixed Maturity Securities [Member] | Sales Revenue Net [Member] | Issuer [Member] | Issuer with the second largest unrealized loss position [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Percentage threshold of unrealized losses not exceeded by any one single issuer | 0.60% | 0.60% |
| Fixed Maturity Securities [Member] | U S Government Debt Securities [Member] | Sales Revenue Net [Member] | Issuer [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Percentage threshold of unrealized losses not exceeded by any one single issuer | 3.80% | 4.30% |
| Recorded An Allowance For Credit Losses [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fair value of investments in unrealized loss position | $ 3 | $ 2 |
| Gross unrealized losses on investments in unrealized loss position | 1 | 1 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 2 | 2 |
| Fixed maturity securities, duration of unrealized loss, less than 12 months, gross unrealized depreciation | 1 | 1 |
| Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation | 1 | |
| External Credit Rating Investment Grade [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, duration of unrealized loss, less than 12 months, gross unrealized depreciation | 126 | 520 |
| Fixed maturity securities, duration of unrealized loss, greater than 12 months, gross unrealized depreciation | 657 | $ 392 |
| Private Placement Liquidity Sweep [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fair Value | $ 287 |
Investments (Summary Of Amortiz
| Investments (Summary Of Amortized Cost, Allowance For Credit Losses, Gross Unrealized Appreciation/(Depreciation) And Fair Value Of Fixed Maturity Securities) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | $ 14,304 | $ 13,699 | ||
| Allowances for credit loss | (56) | (46) | $ (29) | $ (27) |
| Fair Value | 13,414 | 12,671 | ||
| Held To Maturity Securities Debt Maturities [Abstract] | ||||
| Allowances for credit loss | (9) | (9) | ||
| Fair Value | 787 | 793 | ||
| Fixed Maturity Securities [Member] | ||||
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | 14,304 | 13,699 | ||
| Allowances for credit loss | (56) | (46) | ||
| Unrealized Appreciation | 37 | 30 | ||
| Unrealized Depreciation | (871) | (1,013) | ||
| Fair Value | 13,414 | 12,671 | ||
| Held To Maturity Securities Debt Maturities [Abstract] | ||||
| Amortized Cost | 806 | 820 | ||
| Allowances for credit loss | (9) | (9) | ||
| Unrealized Appreciation | 4 | 3 | ||
| Unrealized Depreciation | (15) | (22) | ||
| Fair Value | 787 | 793 | ||
| U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member] | ||||
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | 543 | 575 | ||
| Allowances for credit loss | ||||
| Unrealized Appreciation | ||||
| Unrealized Depreciation | (33) | (40) | ||
| Fair Value | 510 | 535 | ||
| Obligation of U.S. States and Political Subdivisions [Member] | ||||
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | 424 | 444 | ||
| Allowances for credit loss | ||||
| Unrealized Appreciation | 2 | 2 | ||
| Unrealized Depreciation | (28) | (32) | ||
| Fair Value | 398 | 413 | ||
| Corporate Securities [Member] | ||||
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | 4,088 | 3,913 | ||
| Allowances for credit loss | (55) | (45) | (20) | (19) |
| Unrealized Appreciation | 15 | 14 | ||
| Unrealized Depreciation | (288) | (322) | ||
| Fair Value | 3,759 | 3,561 | ||
| Held To Maturity Securities Debt Maturities [Abstract] | ||||
| Amortized Cost | 152 | 152 | ||
| Allowances for credit loss | (2) | (2) | ||
| Unrealized Appreciation | 1 | |||
| Unrealized Depreciation | (3) | (6) | ||
| Fair Value | 148 | 144 | ||
| Asset-backed Securities [Member] | ||||
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | 4,455 | 4,111 | ||
| Allowances for credit loss | (8) | (8) | ||
| Unrealized Appreciation | 5 | 5 | ||
| Unrealized Depreciation | (124) | (165) | ||
| Fair Value | 4,335 | 3,951 | ||
| Held To Maturity Securities Debt Maturities [Abstract] | ||||
| Amortized Cost | 612 | 634 | ||
| Allowances for credit loss | (6) | (6) | ||
| Unrealized Appreciation | 1 | 2 | ||
| Unrealized Depreciation | (12) | (15) | ||
| Fair Value | 596 | 614 | ||
| Commercial [Member] | ||||
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | 569 | 569 | ||
| Allowances for credit loss | ||||
| Unrealized Appreciation | ||||
| Unrealized Depreciation | (58) | (59) | ||
| Fair Value | 511 | 509 | ||
| Held To Maturity Securities Debt Maturities [Abstract] | ||||
| Amortized Cost | 14 | 7 | ||
| Allowances for credit loss | ||||
| Unrealized Appreciation | ||||
| Unrealized Depreciation | ||||
| Fair Value | 13 | 7 | ||
| Agency Residential [Member] | ||||
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | 1,853 | 1,792 | ||
| Allowances for credit loss | ||||
| Unrealized Appreciation | 9 | 3 | ||
| Unrealized Depreciation | (143) | (167) | ||
| Fair Value | 1,719 | 1,628 | ||
| Non-agency Residential [Member] | ||||
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | 3 | 3 | ||
| Allowances for credit loss | ||||
| Unrealized Appreciation | ||||
| Unrealized Depreciation | ||||
| Fair Value | 3 | 3 | ||
| Foreign Government Securities [Member] | ||||
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | 691 | 696 | ||
| Allowances for credit loss | ||||
| Unrealized Appreciation | 2 | 2 | ||
| Unrealized Depreciation | (50) | (61) | ||
| Fair Value | 643 | 637 | ||
| Foreign Corporate Securities [Member] | ||||
| Fixed maturity securities - available for sale: | ||||
| Amortized Cost | 1,680 | 1,597 | ||
| Allowances for credit loss | (1) | (1) | $ (1) | |
| Unrealized Appreciation | 5 | 4 | ||
| Unrealized Depreciation | (146) | (167) | ||
| Fair Value | 1,537 | 1,433 | ||
| Held To Maturity Securities Debt Maturities [Abstract] | ||||
| Amortized Cost | 28 | 28 | ||
| Allowances for credit loss | (1) | (1) | ||
| Unrealized Appreciation | 2 | 2 | ||
| Unrealized Depreciation | ||||
| Fair Value | $ 29 | $ 28 |
Investments (Summary Of Amort_2
| Investments (Summary Of Amortized Cost And Fair Value Of Fixed Maturity Securities, By Contractual Maturity) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
| Fixed maturity securities - available for sale: | ||
| Amortized Cost | $ 14,304 | $ 13,699 |
| Fair Value | 13,414 | 12,671 |
| Fixed Maturity Securities [Member] | ||
| Fixed maturity securities - available for sale: | ||
| Due in one year or less, Amortized Cost | 719 | 581 |
| Due after one year through five years, Amortized Cost | 3,687 | 3,684 |
| Due after five years through ten years, Amortized Cost | 1,981 | 2,003 |
| Due after ten years, Amortized Cost | 1,038 | 958 |
| Amortized Cost | 14,304 | 13,699 |
| Due in one year or less, Fair Value | 694 | 563 |
| Due after one year through five years, Fair Value | 3,461 | 3,429 |
| Due after five years through ten years, Fair Value | 1,787 | 1,760 |
| Due after ten years, Fair Value | 905 | 827 |
| Fair Value | 13,414 | 12,671 |
| Fixed maturity securities - held to maturity: | ||
| Due in one year or less, Amortized Cost | 5 | 5 |
| Due after one year through five years, Amortized Cost | 63 | 63 |
| Due after five years through ten years, Amortized Cost | 43 | 43 |
| Due after ten years, Amortized Cost | 68 | 68 |
| Amortized Cost | 806 | 820 |
| Due in one year or less, Fair Value | 5 | 5 |
| Due after one year through five years, Fair Value | 63 | 61 |
| Due after five years through ten years, Fair Value | 42 | 41 |
| Due after ten years, Fair Value | 67 | 65 |
| Fair Value | 787 | 793 |
| Asset-backed Securities [Member] | ||
| Fixed maturity securities - available for sale: | ||
| Amortized Cost | 4,455 | 4,111 |
| Fair Value | 4,335 | 3,951 |
| Fixed maturity securities - held to maturity: | ||
| Amortized Cost | 612 | 634 |
| Fair Value | 596 | 614 |
| Commercial [Member] | ||
| Fixed maturity securities - available for sale: | ||
| Amortized Cost | 569 | 569 |
| Fair Value | 511 | 509 |
| Fixed maturity securities - held to maturity: | ||
| Amortized Cost | 14 | 7 |
| Fair Value | 13 | 7 |
| Agency Residential [Member] | ||
| Fixed maturity securities - available for sale: | ||
| Amortized Cost | 1,853 | 1,792 |
| Fair Value | 1,719 | 1,628 |
| Non-agency Residential [Member] | ||
| Fixed maturity securities - available for sale: | ||
| Amortized Cost | 3 | 3 |
| Fair Value | $ 3 | $ 3 |
Investments (Summary Of Changes
| Investments (Summary Of Changes In Net Unrealized Appreciation (Depreciation) For The Company's Investments) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Schedule of Available-for-sale Securities [Line Items] | ||
| Change in unrealized appreciation (depreciation), pre-tax | $ 153 | $ (496) |
| Deferred tax benefit (expense) | (32) | 104 |
| Total URA(D) on securities arising during the period | 121 | (392) |
| Fixed Maturity Securities and Short Term Investments [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Change in unrealized appreciation (depreciation), pre-tax | $ 153 | $ (496) |
Investments (Summary Of Aggrega
| Investments (Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Security Type) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
| Fixed Maturity Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | $ 4,545 | $ 8,524 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (158) | (591) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 6,499 | 2,698 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (713) | (421) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 11,045 | 11,222 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (871) | (1,013) |
| No Recorded Allowance for Credit Losses [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 4,543 | 8,522 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (157) | (591) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 6,499 | 2,698 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (713) | (421) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 11,042 | 11,220 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (870) | (1,012) |
| U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 153 | 290 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (3) | (14) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 348 | 245 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (30) | (26) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 501 | 535 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (33) | (40) |
| Obligation of U.S. States and Political Subdivisions [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 113 | 235 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (6) | (23) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 119 | 27 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (22) | (9) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 232 | 261 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (28) | (32) |
| Corporate Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 1,255 | 2,138 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (52) | (175) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 1,814 | 841 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (235) | (146) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 3,069 | 2,979 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (287) | (321) |
| Asset-backed Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 1,614 | 3,120 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (37) | (138) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 1,819 | 436 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (87) | (27) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 3,434 | 3,556 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (124) | (165) |
| Commercial [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 170 | 464 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (11) | (50) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 334 | 36 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (47) | (9) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 504 | 500 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (58) | (59) |
| Agency Residential [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 589 | 852 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (24) | (54) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 749 | 605 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (119) | (113) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 1,338 | 1,456 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (143) | (167) |
| Non-agency Residential [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 2 | |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | ||
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 3 | 1 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | ||
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 3 | 3 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | ||
| Foreign Government Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 171 | 455 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (5) | (36) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 406 | 144 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (45) | (25) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 578 | 599 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (50) | (61) |
| Foreign Corporate Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 478 | 967 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (18) | (100) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 905 | 365 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (128) | (67) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 1,383 | 1,332 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (146) | (167) |
| Recorded An Allowance For Credit Losses [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 2 | 2 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (1) | (1) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 1 | |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (1) | |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 3 | 2 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | $ (1) | $ (1) |
Investments (Summary Of Aggre_2
| Investments (Summary Of Aggregate Market Value And Gross Unrealized Depreciation Of Fixed Maturity And Equity Securities, By Contractual Maturity) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
| Fixed Maturity Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | $ 4,545 | $ 8,524 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (158) | (591) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 6,499 | 2,698 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (713) | (421) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 11,045 | 11,222 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (871) | (1,013) |
| No Recorded Allowance for Credit Losses [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 4,543 | 8,522 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (157) | (591) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 6,499 | 2,698 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (713) | (421) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 11,042 | 11,220 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (870) | (1,012) |
| Due In One Year Or Less [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 485 | 463 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (7) | (8) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 111 | 29 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (9) | (4) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 596 | 491 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (17) | (11) |
| Due In One Year Through Five Years [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 893 | 2,020 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (31) | (143) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 2,073 | 936 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (192) | (107) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 2,966 | 2,956 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (223) | (250) |
| Due In Five Years Through Ten Years [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 542 | 1,162 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (31) | (148) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 965 | 395 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (169) | (98) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 1,507 | 1,557 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (200) | (246) |
| Due After Ten Years [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 249 | 439 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (15) | (50) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 445 | 262 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (90) | (64) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 694 | 701 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (105) | (114) |
| Asset-backed Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 1,614 | 3,120 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (37) | (138) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 1,819 | 436 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (87) | (27) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 3,434 | 3,556 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (124) | (165) |
| Mortgage Backed Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 759 | 1,318 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (36) | (105) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 1,086 | 641 |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (166) | (122) |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 1,845 | 1,959 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | (201) | (226) |
| Recorded An Allowance For Credit Losses [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Market Value | 2 | 2 |
| Fixed maturity securities, Duration of Unrealized Loss, Less than 12 months, Gross Unrealized Depreciation | (1) | (1) |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Market Value | 1 | |
| Fixed maturity securities, Duration of Unrealized Loss, Greater than 12 months, Gross Unrealized Depreciation | (1) | |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Fair Value | 3 | 2 |
| Fixed maturity securities, Duration of Unrealized Loss, Total, Gross Unrealized Depreciation | $ (1) | $ (1) |
Investments (Summary Of Compone
| Investments (Summary Of Components Of Net Investment Income) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Schedule of Available-for-sale Securities [Line Items] | ||
| Gross investment income before adjustments | $ 192 | $ 162 |
| Funds held interest income (expense) | 3 | 3 |
| Interest income from Parent | 5 | 2 |
| Gross investment income | 200 | 166 |
| Investment expenses | (10) | (10) |
| Net investment income | 190 | 156 |
| Fixed Maturity Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Gross investment income before adjustments | 174 | 94 |
| Equity Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Gross investment income before adjustments | 1 | 4 |
| Short-Term Investments and Cash [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Gross investment income before adjustments | 11 | |
| Limited Partnerships [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Gross investment income before adjustments | (24) | 44 |
| Dividends From Preferred Shares Of Affiliate [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Gross investment income before adjustments | 8 | 8 |
| Other [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Gross investment income before adjustments | $ 22 | $ 12 |
Investments (Summary Of Compo_2
| Investments (Summary Of Components Of Net Realized Capital Gains (Losses)) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Schedule of Available-for-sale Securities [Line Items] | ||
| Allowance for credit losses | $ (10) | $ (2) |
| Gains (losses) from fair value adjustments | 27 | (215) |
| Total net gains (losses) on investments | 22 | (227) |
| Fixed Maturity Securities [Member] | Market Value [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Allowance for credit losses | (10) | (2) |
| Net realized gains (losses) from dispositions | (1) | (5) |
| Equity Securities [Member] | Market Value [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Net realized gains (losses) from dispositions | 7 | (8) |
| Gains (losses) from fair value adjustments | 3 | (131) |
| Other invested assets | 4 | |
| Other Invested Assets [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Gains (losses) from fair value adjustments | $ 24 | $ (85) |
Investments (Summary Of Beginni
| Investments (Summary Of Beginning And Ending Balance Of Allowance For Credit Losses) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Schedule of Available-for-sale and Held to Maturity Securities [Line Items] | ||
| Available-for-Sale, Beginning Balance | $ (46) | $ (27) |
| Credit losses on securities where credit losses were not previously recorded | (12) | (3) |
| Increases in allowance on previously impaired securities | ||
| Decrease in allowance on previously impaired securities | ||
| Reduction in allowance due to disposals | 2 | 1 |
| Available-for-Sale, Ending Balance | (56) | (29) |
| Held to Maturity, Beginning Balance | (9) | |
| Credit losses on securities where credit losses were not previously recorded | ||
| Increases in allowance on previously impaired securities | ||
| Decrease in allowance on previously impaired securities | ||
| Reduction in allowance due to disposals | ||
| Held to Maturity, Ending Balance | (9) | |
| Fixed Maturity Securities [Member] | ||
| Schedule of Available-for-sale and Held to Maturity Securities [Line Items] | ||
| Available-for-Sale, Beginning Balance | (46) | |
| Available-for-Sale, Ending Balance | (56) | |
| Held to Maturity, Beginning Balance | (9) | |
| Held to Maturity, Ending Balance | (9) | |
| Corporate Securities [Member] | ||
| Schedule of Available-for-sale and Held to Maturity Securities [Line Items] | ||
| Available-for-Sale, Beginning Balance | (45) | (19) |
| Credit losses on securities where credit losses were not previously recorded | (12) | (2) |
| Increases in allowance on previously impaired securities | ||
| Decrease in allowance on previously impaired securities | ||
| Reduction in allowance due to disposals | 2 | 1 |
| Available-for-Sale, Ending Balance | (55) | (20) |
| Held to Maturity, Beginning Balance | (2) | |
| Credit losses on securities where credit losses were not previously recorded | ||
| Increases in allowance on previously impaired securities | ||
| Decrease in allowance on previously impaired securities | ||
| Reduction in allowance due to disposals | ||
| Held to Maturity, Ending Balance | (2) | |
| Asset Backed Securities [Member] | ||
| Schedule of Available-for-sale and Held to Maturity Securities [Line Items] | ||
| Available-for-Sale, Beginning Balance | (8) | |
| Credit losses on securities where credit losses were not previously recorded | ||
| Increases in allowance on previously impaired securities | ||
| Decrease in allowance on previously impaired securities | ||
| Reduction in allowance due to disposals | ||
| Available-for-Sale, Ending Balance | (8) | |
| Held to Maturity, Beginning Balance | (6) | |
| Credit losses on securities where credit losses were not previously recorded | ||
| Increases in allowance on previously impaired securities | ||
| Decrease in allowance on previously impaired securities | ||
| Reduction in allowance due to disposals | ||
| Held to Maturity, Ending Balance | (6) | |
| U S States And Political Subdivisions [Member] | ||
| Schedule of Available-for-sale and Held to Maturity Securities [Line Items] | ||
| Available-for-Sale, Beginning Balance | ||
| Available-for-Sale, Ending Balance | ||
| Foreign Government Debt Securities [Member] | ||
| Schedule of Available-for-sale and Held to Maturity Securities [Line Items] | ||
| Available-for-Sale, Beginning Balance | ||
| Available-for-Sale, Ending Balance | ||
| Foreign Corporate Debt Securities [Member] | ||
| Schedule of Available-for-sale and Held to Maturity Securities [Line Items] | ||
| Available-for-Sale, Beginning Balance | (1) | |
| Credit losses on securities where credit losses were not previously recorded | (1) | |
| Increases in allowance on previously impaired securities | ||
| Decrease in allowance on previously impaired securities | ||
| Reduction in allowance due to disposals | ||
| Available-for-Sale, Ending Balance | (1) | $ (1) |
| Held to Maturity, Beginning Balance | (1) | |
| Credit losses on securities where credit losses were not previously recorded | ||
| Increases in allowance on previously impaired securities | ||
| Decrease in allowance on previously impaired securities | ||
| Reduction in allowance due to disposals | ||
| Held to Maturity, Ending Balance | $ (1) | |
Investments (Summary Of Gross G
| Investments (Summary Of Gross Gains (Losses) From Sales Of Fixed Maturity And Equity Securities) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Schedule of Available-for-sale Securities [Line Items] | ||
| Proceeds from sales of fixed maturity securities, available for sale | $ 49 | $ 267 |
| Proceeds from sales of equity securities | 46 | 82 |
| Fixed Maturity Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Proceeds from sales of fixed maturity securities, available for sale | 49 | 267 |
| Gross gains from dispositions | 3 | 3 |
| Gross losses from dispositions | (4) | (8) |
| Equity Securities [Member] | ||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Proceeds from sales of equity securities | 46 | 82 |
| Gross gains from dispositions | 7 | 4 |
| Gross losses from dispositions | $ (12) | |
Reserves For Losses, LAE And _3
| Reserves For Losses, LAE And Future Policy Benefit Reserve (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Reserves For Losses And LAE [Line Items] | ||
| Current year incurred losses | $ 1,403 | $ 1,219 |
| Incurred related to : Prior years | (9) | $ 7 |
| Catastrophe [Member] | ||
| Reserves For Losses And LAE [Line Items] | ||
| Current year incurred losses | $ 22 | |
Reserves For Losses, LAE And _4
| Reserves For Losses, LAE And Future Policy Benefit Reserve (Summary Of Activity In The Reserve For Losses And LAE) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Reserves For Losses, LAE And Future Policy Benefit Reserve [Abstract] | ||
| Gross reserves beginning of period | $ 14,977 | $ 13,121 |
| Less reinsurance recoverables on unpaid losses | (3,684) | (3,651) |
| Net reserves beginning of period | 11,293 | 9,470 |
| Incurred related to: Current year | 1,403 | 1,219 |
| Incurred related to : Prior years | (9) | 7 |
| Total incurred losses and LAE | 1,394 | 1,226 |
| Paid related to: Current year | 585 | 248 |
| Paid related to: Prior years | 379 | 676 |
| Total paid losses and LAE | 964 | 924 |
| Foreign exchange/translation adjustment | 5 | 7 |
| Net reserves end of period | 11,729 | 9,778 |
| Plus reinsurance recoverables on unpaid losses | 3,586 | 3,625 |
| Gross reserves end of period | $ 15,315 | $ 13,404 |
Fair Value (Narrative) (Details
| Fair Value (Narrative) (Details) - USD ($) | 3 Months Ended | ||
| Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Fair Value | $ 13,414,000,000 | $ 12,671,000,000 | |
| Other invested assets, at fair value | 1,497,000,000 | 1,472,000,000 | |
| Fixed maturities - held to maturity, at amortized cost, net of credit allowances | 797,000,000 | 811,000,000 | |
| Fixed maturities - held to maturity, at amortized cost, net of credit allowances, fair value | 787,000,000 | 793,000,000 | |
| Transfers in/(out) of level 3 | 0 | ||
| Internally Managed Public Equity Portfolio [Member] | |||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Fair Value | 3,400,000,000 | 2,700,000,000 | |
| Market Value [Member] | |||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Transfers in/(out) of level 3 | |||
| Fair Value [Member] | Investments [Member] | |||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Other invested assets, at fair value | 316,000,000 | 292,000,000 | |
| Fixed Maturities [Member] | |||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Fair Value | $ 1,700,000,000 | $ 1,700,000,000 | |
Fair Value (Fair Value Measurem
| Fair Value (Fair Value Measurement Levels For All Assets, Recorded At Fair And Market Value) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | $ 13,414 | $ 12,671 |
| Equity securities, at fair value | 158 | 194 |
| Other invested assets, at fair value | 1,497 | 1,472 |
| Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Equity securities, at fair value | 140 | 132 |
| Other invested assets, at fair value | ||
| Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 11,669 | 10,946 |
| Equity securities, at fair value | 19 | 63 |
| Other invested assets, at fair value | ||
| Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 1,745 | 1,725 |
| Equity securities, at fair value | ||
| Other invested assets, at fair value | 1,497 | 1,472 |
| U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 510 | 535 |
| U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 510 | 535 |
| U.S. Treasury Securities And Obligations Of U.S. Government Agencies And Corporations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Obligation of U.S. States and Political Subdivisions [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 398 | 413 |
| Obligation of U.S. States and Political Subdivisions [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Obligation of U.S. States and Political Subdivisions [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 398 | 413 |
| Obligation of U.S. States and Political Subdivisions [Member] | Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Corporate Securities [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 3,759 | 3,561 |
| Corporate Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Corporate Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 3,050 | 2,846 |
| Corporate Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 709 | 715 |
| Asset Backed Securities [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 4,335 | 3,951 |
| Asset Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Asset Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 3,315 | 2,957 |
| Asset Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 1,020 | 994 |
| Commercial Mortgage Backed Securities [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 511 | 509 |
| Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 511 | 509 |
| Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Agency Residential [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 1,719 | 1,628 |
| Agency Residential [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Agency Residential [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 1,719 | 1,628 |
| Agency Residential [Member] | Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Non-agency Residential [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 3 | 3 |
| Non-agency Residential [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Non-agency Residential [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 3 | 3 |
| Non-agency Residential [Member] | Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Foreign Government Debt Securities [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 643 | 637 |
| Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 643 | 637 |
| Foreign Government Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Foreign Corporate Debt Securities [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 1,537 | 1,433 |
| Foreign Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | ||
| Foreign Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | 1,521 | 1,417 |
| Foreign Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Fair Value | $ 16 | $ 16 |
Fair Value (Activity Under Leve
| Fair Value (Activity Under Level 3, Fair Value Measurements Using Significant Unobservable Inputs By Asset Type) (Details) - USD ($) | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Transfers in (out) of Level 3 and reclassification of securities in/(out) investment categories | $ 0 | |
| Market Value [Member] | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Beginning balance | 1,725,000,000 | $ 1,997,000,000 |
| Total gains or (losses) (realized/unrealized), Included in earnings | 1,000,000 | 2,000,000 |
| Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss) | 14,000,000 | (33,000,000) |
| Purchases, issuances and settlements | 5,000,000 | 159,000,000 |
| Transfers in (out) of Level 3 and reclassification of securities in/(out) investment categories | ||
| Ending balance | 1,745,000,000 | 2,125,000,000 |
| The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date | ||
| Market Value [Member] | Corporate Securities [Member] | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Beginning balance | 715,000,000 | 730,000,000 |
| Total gains or (losses) (realized/unrealized), Included in earnings | 1,000,000 | 1,000,000 |
| Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss) | (4,000,000) | (4,000,000) |
| Purchases, issuances and settlements | (3,000,000) | (13,000,000) |
| Transfers in (out) of Level 3 and reclassification of securities in/(out) investment categories | ||
| Ending balance | 709,000,000 | 715,000,000 |
| The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date | ||
| Market Value [Member] | Asset-backed Securities [Member] | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Beginning balance | 994,000,000 | 1,251,000,000 |
| Total gains or (losses) (realized/unrealized), Included in earnings | ||
| Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss) | 18,000,000 | (29,000,000) |
| Purchases, issuances and settlements | 9,000,000 | 166,000,000 |
| Transfers in (out) of Level 3 and reclassification of securities in/(out) investment categories | ||
| Ending balance | 1,020,000,000 | 1,389,000,000 |
| The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date | ||
| Market Value [Member] | CMBS [Member] | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Beginning balance | ||
| Total gains or (losses) (realized/unrealized), Included in earnings | ||
| Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss) | ||
| Purchases, issuances and settlements | 6,000,000 | |
| Transfers in (out) of Level 3 and reclassification of securities in/(out) investment categories | ||
| Ending balance | 6,000,000 | |
| The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date | ||
| Market Value [Member] | Foreign Corporate Securities [Member] | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Beginning balance | 16,000,000 | 16,000,000 |
| Total gains or (losses) (realized/unrealized), Included in earnings | ||
| Total gains or (losses) (realized/unrealized), Included in other comprehensive income (loss) | ||
| Purchases, issuances and settlements | ||
| Transfers in (out) of Level 3 and reclassification of securities in/(out) investment categories | ||
| Ending balance | 16,000,000 | 16,000,000 |
| The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date | ||
Comprehensive Income (Loss) (Co
| Comprehensive Income (Loss) (Components Of Comprehensive Income (Loss) In The Consolidated Statements Of Operations) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Comprehensive Income (Loss) [Line Items] | ||
| Reclassification, Before Tax | $ 1 | |
| Reclassification, Tax Effect | ||
| Reclassification, Net of Tax | 1 | |
| Total, Before Tax | 161 | (497) |
| Total, Tax Effect | (33) | 104 |
| Total other comprehensive income (loss), net of tax | 128 | (393) |
| URA(D) On Securities [Member] | ||
| Comprehensive Income (Loss) [Line Items] | ||
| Before Tax | 142 | (499) |
| Tax Effect | (30) | 104 |
| Net of Tax | 112 | (394) |
| Reclassification, Before Tax | 11 | 3 |
| Reclassification, Tax Effect | (2) | (1) |
| Reclassification, Net of Tax | 9 | 2 |
| Total other comprehensive income (loss), net of tax | 121 | (392) |
| Foreign Currency Translation Adjustments [Member] | ||
| Comprehensive Income (Loss) [Line Items] | ||
| Before Tax | 8 | (2) |
| Tax Effect | (1) | 1 |
| Net of Tax | 7 | (2) |
| Total other comprehensive income (loss), net of tax | 7 | (2) |
| Benefit Plan Net Gain (Loss) [Member] | ||
| Comprehensive Income (Loss) [Line Items] | ||
| Total other comprehensive income (loss), net of tax | $ 1 | |
Comprehensive Income (Loss) (Re
| Comprehensive Income (Loss) (Reclassification From Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
| Other net gains (losses) on investments | $ 5 | $ (10) |
| Income tax expense (benefit) | (49) | 10 |
| NET INCOME (LOSS) | 220 | 1 |
| URA(D) On Securities [Member] | Reclassification Out Of Accumulated Other Comprehensive Income [Member] | ||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
| Other net gains (losses) on investments | 11 | 3 |
| Income tax expense (benefit) | (2) | (1) |
| NET INCOME (LOSS) | 9 | 2 |
| Benefit Plan Net Gain (Loss) [Member] | Reclassification Out Of Accumulated Other Comprehensive Income [Member] | ||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
| Other underwriting expenses | 1 | |
| Income tax expense (benefit) | ||
| NET INCOME (LOSS) | $ 1 | |
Comprehensive Income (Loss) (_2
| Comprehensive Income (Loss) (Components Of Accumulated Other Comprehensive Income (Loss), Net Of Tax, In The Consolidated Balance Sheets) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Comprehensive Income (Loss) [Line Items] | ||
| Beginning balance | $ 5,654 | |
| Current period change | 128 | $ (393) |
| Ending balance | 6,002 | 6,646 |
| URA(D) On Securities [Member] | ||
| Comprehensive Income (Loss) [Line Items] | ||
| Beginning balance | (816) | 122 |
| Current period change | 121 | (392) |
| Ending balance | (695) | (270) |
| Foreign Currency Translation Adjustments [Member] | ||
| Comprehensive Income (Loss) [Line Items] | ||
| Beginning balance | 1 | 20 |
| Current period change | 7 | (2) |
| Ending balance | 8 | 18 |
| Benefit Plan Net Gain (Loss) [Member] | ||
| Comprehensive Income (Loss) [Line Items] | ||
| Beginning balance | (33) | (50) |
| Current period change | 1 | |
| Ending balance | (33) | (50) |
| Accumulated Other Comprehensive Income (Loss) [Member] | ||
| Comprehensive Income (Loss) [Line Items] | ||
| Beginning balance | (848) | 91 |
| Current period change | 128 | (393) |
| Ending balance | $ (720) | $ (302) |
Collateralized Reinsurance An_3
| Collateralized Reinsurance And Trust Agreements (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Mar. 31, 2022 |
| Effects of Reinsurance [Line Items] | ||
| Amount on deposit in trust accounts | $ 751 | $ 567 |
| Restricted cash | $ 52 | $ 173 |
Collateralized Reinsurance An_4
| Collateralized Reinsurance And Trust Agreements (Summary Of Collateralized Reinsurance Agreements) (Details) - Kilimanjaro Re Limited [Member] $ in Millions | 3 Months Ended |
| Mar. 31, 2023 USD ($) | |
| Effects of Reinsurance [Line Items] | |
| Limit | $ 2,063 |
| Series 2018-1 Class A-2 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Apr. 30, 2018 |
| Expiration Date | May 05, 2023 |
| Limit | $ 63 |
| Coverage Basis | Aggregate |
| Series 2018-1 Class B-2 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Apr. 30, 2018 |
| Expiration Date | May 05, 2023 |
| Limit | $ 200 |
| Coverage Basis | Aggregate |
| Series 2019-1 Class A-1 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Dec. 12, 2019 |
| Expiration Date | Dec. 19, 2023 |
| Limit | $ 150 |
| Coverage Basis | Occurrence |
| Series 2019-1 Class B-1 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Dec. 12, 2019 |
| Expiration Date | Dec. 19, 2023 |
| Limit | $ 275 |
| Coverage Basis | Aggregate |
| Series 2019-1 Class A-2 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Dec. 12, 2019 |
| Expiration Date | Dec. 19, 2024 |
| Limit | $ 150 |
| Coverage Basis | Occurrence |
| Series 2019-1 Class B-2 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Dec. 12, 2019 |
| Expiration Date | Dec. 19, 2024 |
| Limit | $ 275 |
| Coverage Basis | Aggregate |
| Series 2021-1 Class A-1 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Apr. 08, 2021 |
| Expiration Date | Apr. 21, 2025 |
| Limit | $ 150 |
| Coverage Basis | Occurrence |
| Series 2021-1 Class B-1 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Apr. 08, 2021 |
| Expiration Date | Apr. 21, 2025 |
| Limit | $ 85 |
| Coverage Basis | Aggregate |
| Series 2021-1 Class C-1 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Apr. 08, 2021 |
| Expiration Date | Apr. 21, 2025 |
| Limit | $ 85 |
| Coverage Basis | Aggregate |
| Series 2021-1 Class A-2 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Apr. 08, 2021 |
| Expiration Date | Apr. 20, 2026 |
| Limit | $ 150 |
| Coverage Basis | Occurrence |
| Series 2021-1 Class B-2 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Apr. 08, 2021 |
| Expiration Date | Apr. 20, 2026 |
| Limit | $ 90 |
| Coverage Basis | Aggregate |
| Series 2021-1 Class C-2 [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Apr. 08, 2021 |
| Expiration Date | Apr. 20, 2026 |
| Limit | $ 90 |
| Coverage Basis | Aggregate |
| Series 2022-1 Class A [Member] | |
| Effects of Reinsurance [Line Items] | |
| Description | US, Canada, Puerto Rico – Named Storm and Earthquake Events |
| Effective Date | Jun. 22, 2022 |
| Expiration Date | Jun. 25, 2025 |
| Limit | $ 300 |
| Coverage Basis | Aggregate |
Senior Notes (Schedule Of Outst
| Senior Notes (Schedule Of Outstanding Senior Notes) (Details) - USD ($) | 3 Months Ended | |
| Mar. 31, 2023 | Dec. 31, 2022 | |
| Assets Sold under Agreements to Repurchase [Line Items] | ||
| Consolidated Balance Sheet Amount | $ 2,348,000,000 | $ 2,347,000,000 |
| Senior Notes [Member] | ||
| Assets Sold under Agreements to Repurchase [Line Items] | ||
| Principal Amounts | 2,400,000,000 | |
| Consolidated Balance Sheet Amount | 2,348,000,000 | 2,347,000,000 |
| Market Value | $ 1,778,000,000 | 1,647,000,000 |
| Senior Notes [Member] | Senior Notes 4.868% [Member] | ||
| Assets Sold under Agreements to Repurchase [Line Items] | ||
| Date Issued | Jun. 05, 2014 | |
| Date Due | Jun. 01, 2044 | |
| Principal Amounts | $ 400,000,000 | |
| Consolidated Balance Sheet Amount | 397,000,000 | 397,000,000 |
| Market Value | $ 373,000,000 | 343,000,000 |
| Debt instrument, stated interest rate | 4.868% | |
| Senior Notes [Member] | Senior Notes 3.50% [Member] | ||
| Assets Sold under Agreements to Repurchase [Line Items] | ||
| Date Issued | Oct. 07, 2020 | |
| Date Due | Oct. 15, 2050 | |
| Principal Amounts | $ 1,000,000,000 | |
| Consolidated Balance Sheet Amount | 981,000,000 | 981,000,000 |
| Market Value | $ 728,000,000 | 677,000,000 |
| Debt instrument, stated interest rate | 3.50% | |
| Senior Notes [Member] | Senior Notes 3.125% [Member] | ||
| Assets Sold under Agreements to Repurchase [Line Items] | ||
| Date Issued | Oct. 04, 2021 | |
| Date Due | Oct. 15, 2052 | |
| Principal Amounts | $ 1,000,000,000 | |
| Consolidated Balance Sheet Amount | 969,000,000 | 969,000,000 |
| Market Value | $ 677,000,000 | $ 627,000,000 |
| Debt instrument, stated interest rate | 3.125% |
Senior Notes (Schedule Of Inter
| Senior Notes (Schedule Of Interest Expense Incurred In Connection With Senior Notes) (Details) - Senior Notes [Member] - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Debt Instrument [Line Items] | ||
| Interest expense incurred | $ 22 | $ 22 |
| Senior Notes 4.868% [Member] | ||
| Debt Instrument [Line Items] | ||
| Interest expense incurred | $ 5 | 5 |
| Debt instrument, stated interest rate | 4.868% | |
| Senior Notes 3.50% [Member] | ||
| Debt Instrument [Line Items] | ||
| Interest expense incurred | $ 9 | 9 |
| Debt instrument, stated interest rate | 3.50% | |
| Senior Notes 3.125% [Member] | ||
| Debt Instrument [Line Items] | ||
| Interest expense incurred | $ 8 | $ 8 |
| Debt instrument, stated interest rate | 3.125% | |
Long Term Subordinated Notes (N
| Long Term Subordinated Notes (Narrative) (Details) - Item | 3 Months Ended | |
| Mar. 31, 2023 | May 14, 2023 | |
| Senior Notes 4.868% [Member] | Senior Notes [Member] | ||
| Debt Instrument [Line Items] | ||
| Debt instrument, stated interest rate | 4.868% | |
| Maturity date | Jun. 01, 2044 | |
| Subordinated Notes 6.60% [Member] | Subordinated Debt [Member] | ||
| Debt Instrument [Line Items] | ||
| Debt instrument, stated interest rate | 6.60% | |
| Interest payment commencement date | Nov. 15, 2007 | |
| Right to defer interest, number of occasions | 1 | |
| Right to defer interest on one or more occasions for up to number of consecutive years | 10 years | |
| Interest basis, 3 month LIBOR plus number of basis points, reset quarterly | 2.385% | |
| Percentage of principal amount required for redemption | 100% | |
| Subordinated Notes 6.60% [Member] | Subordinated Debt [Member] | Subsequent Event [Member] | ||
| Debt Instrument [Line Items] | ||
| Reset quarterly interest rate | 7.25% | |
| Subordinated Notes 6.60% [Member] | Subordinated Debt [Member] | Minimum [Member] | ||
| Debt Instrument [Line Items] | ||
| Interest payment date | May 3, 2007 | |
| Redemption date | May 15, 2017 | |
| Subordinated Notes 6.60% [Member] | Subordinated Debt [Member] | Maximum [Member] | ||
| Debt Instrument [Line Items] | ||
| Interest payment date | May 14, 2017 | |
| Redemption date | May 01, 2047 | |
| Senior Notes 3.50% [Member] | Senior Notes [Member] | ||
| Debt Instrument [Line Items] | ||
| Debt instrument, stated interest rate | 3.50% | |
| Maturity date | Oct. 15, 2050 | |
| Senior Notes 3.125% [Member] | Senior Notes [Member] | ||
| Debt Instrument [Line Items] | ||
| Debt instrument, stated interest rate | 3.125% | |
| Maturity date | Oct. 15, 2052 |
Long Term Subordinated Notes (S
| Long Term Subordinated Notes (Schedule Of Outstanding Fixed To Floating Rate Long Term Subordinated Notes) (Details) - USD ($) | 3 Months Ended | |
| Mar. 31, 2023 | Dec. 31, 2022 | |
| Debt Instrument [Line Items] | ||
| Consolidated Balance Sheet Amount | $ 218,000,000 | $ 218,000,000 |
| Subordinated Notes 6.60% [Member] | Long Term Subordinated Debt [Member] | ||
| Debt Instrument [Line Items] | ||
| Date Issued | Apr. 26, 2007 | |
| Original Principal Amount | $ 400,000,000 | |
| Consolidated Balance Sheet Amount | 218,000,000 | 218,000,000 |
| Market Value | $ 197,000,000 | $ 187,000,000 |
| Subordinated Notes 6.60% [Member] | Long Term Subordinated Debt [Member] | Scheduled [Member] | ||
| Debt Instrument [Line Items] | ||
| Maturity date | May 15, 2037 | |
| Subordinated Notes 6.60% [Member] | Long Term Subordinated Debt [Member] | Final [Member] | ||
| Debt Instrument [Line Items] | ||
| Maturity date | May 01, 2067 |
Long Term Subordinated Notes _2
| Long Term Subordinated Notes (Schedule Of Interest Expense Incurred In Connection With Long Term Subordinated Notes) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Long Term Subordinated Notes [Abstract] | ||
| Interest expense incurred | $ 4 | $ 2 |
Federal Home Loan Bank Member_2
| Federal Home Loan Bank Membership (Narrative) (Details) - Federal Home Loan Bank Of New York [Member] - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Federal Home Loan Bank Advances Branch Of F H L B Bank [Line Items] | ||
| Maximum percentage of admitted assets allowed for borrowing base | 10% | |
| Admitted assets for FHLB | $ 23,100 | |
| Maximum amount available under FHLB | 2,300 | |
| Outstanding | $ 519 | |
| Amount of borrowed funds required to be used to acquire additional membership stock, percentage | 4.50% | |
| Interest expense | $ 6 | $ 0.7 |
Segment Reporting (Schedule Of
| Segment Reporting (Schedule Of Underwriting Results For Operating Segments) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Segment Reporting Information [Line Items] | ||
| Gross written premiums | $ 2,496 | $ 2,205 |
| Net written premiums | 2,063 | 1,796 |
| Premiums earned | 2,068 | 1,829 |
| Incurred losses and LAE | 1,394 | 1,226 |
| Commission and brokerage | 436 | 385 |
| Other underwriting expenses | 139 | 118 |
| Underwriting gain (loss) | 99 | 101 |
| Reinsurance [Member] | ||
| Segment Reporting Information [Line Items] | ||
| Gross written premiums | 1,643 | 1,380 |
| Net written premiums | 1,373 | 1,185 |
| Premiums earned | 1,367 | 1,209 |
| Incurred losses and LAE | 929 | 820 |
| Commission and brokerage | 361 | 315 |
| Other underwriting expenses | 39 | 31 |
| Underwriting gain (loss) | 38 | 43 |
| Insurance [Member] | ||
| Segment Reporting Information [Line Items] | ||
| Gross written premiums | 852 | 825 |
| Net written premiums | 690 | 611 |
| Premiums earned | 702 | 619 |
| Incurred losses and LAE | 465 | 405 |
| Commission and brokerage | 76 | 69 |
| Other underwriting expenses | 100 | 87 |
| Underwriting gain (loss) | $ 61 | $ 58 |
Segment Reporting (Schedule O_2
| Segment Reporting (Schedule Of Underwriting Results For Operating Segments To Income (Loss) Before Taxes) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Segment Reporting [Abstract] | ||
| Underwriting gain (loss) | $ 99 | $ 101 |
| Net investment income | 190 | 156 |
| Net gains (losses) on investments | 22 | (227) |
| Corporate expenses | (6) | (6) |
| Interest, fee and bond issue cost amortization expense | (32) | (24) |
| Other income (expense) | (4) | (9) |
| INCOME (LOSS) BEFORE TAXES | $ 269 | $ (9) |
Related-Party Transactions (Nar
| Related-Party Transactions (Narrative) (Details) € in Millions, £ in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
| Dec. 31, 2015 USD ($) shares | Mar. 31, 2023 EUR (€) | Mar. 31, 2023 GBP (£) | Dec. 31, 2017 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
| Related-Party Transaction [Line Items] | ||||||
| Notes Receivable - affiliated | $ 840 | $ 840 | ||||
| Shares purchased and held | shares | 9,719,971 | |||||
| Shares received in exchange from affiliated entity for transfer | shares | 1,773.214 | |||||
| Preferred shares par value | $ 1 | |||||
| Annual dividend rate | 1.75% | |||||
| Amount transferred | $ 1,000 | |||||
| Subject loss reserves | 2,300 | |||||
| Reinsurance recoverables - affiliated | 1,896 | 1,935 | ||||
| Bermuda Re [Member] | ||||||
| Related-Party Transaction [Line Items] | ||||||
| Amount transferred | 970 | |||||
| Reinsurance recoverables - affiliated | $ 803.6 | $ 803.7 | ||||
| Bermuda Re [Member] | ||||||
| Related-Party Transaction [Line Items] | ||||||
| Adverse development coverage | $ 500 | |||||
| Catastrophe Reinsurance effective January 1, 2021 through December 31, 2021 [Member] | Bermuda Re [Member] | Everest Re Group, Ltd. [Member] | ||||||
| Related-Party Transaction [Line Items] | ||||||
| Reinsurance agreement | £ | £ 110 | |||||
| Payments for coverage | £ | 4 | |||||
| Catastrophe Reinsurance effective January 1, 2021 through December 31, 2021 [Member] | Bermuda Re [Member] | Everest Re Group, Ltd. [Member] | Coverage for each Catastrophe Occurrence above Specified Amount [Member] | ||||||
| Related-Party Transaction [Line Items] | ||||||
| Reinsurance agreement | £ | £ 29 | |||||
| Catastrophe Reinsurance effective February 1, 2023 through January 31, 2024 [Member] | Ireland Re [Member] | Everest Re Group, Ltd. [Member] | ||||||
| Related-Party Transaction [Line Items] | ||||||
| Reinsurance agreement | € | € 121 | |||||
| Payments for coverage | € | 10 | |||||
| Catastrophe Reinsurance effective February 1, 2023 through January 31, 2024 [Member] | Ireland Re [Member] | Everest Re Group, Ltd. [Member] | Coverage for each Catastrophe Occurrence above Specified Amount [Member] | ||||||
| Related-Party Transaction [Line Items] | ||||||
| Reinsurance agreement | € | 18 | |||||
| Catastrophe Reinsurance effective March 31, 2023 through January 31, 2024 [Member] | Ireland Re [Member] | Everest Re Group, Ltd. [Member] | ||||||
| Related-Party Transaction [Line Items] | ||||||
| Reinsurance agreement | € | 61 | |||||
| Payments for coverage | € | 2 | |||||
| Catastrophe Reinsurance effective March 31, 2023 through January 31, 2024 [Member] | Ireland Re [Member] | Everest Re Group, Ltd. [Member] | Coverage for each Catastrophe Occurrence above Specified Amount [Member] | ||||||
| Related-Party Transaction [Line Items] | ||||||
| Reinsurance agreement | € | € 139 | |||||
Related-Party Transactions (Sch
| Related-Party Transactions (Schedule Of Related-Party Long-Term Notes) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Dec. 31, 2022 | |
| Related-Party Transaction [Line Items] | ||
| Principal Amounts | $ 840 | |
| Consolidated Balance Sheet Amount | 840 | $ 840 |
| Fair Value | $ 689 | 689 |
| 1.69% Long-term Note [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Date Issued | Dec. 17, 2019 | |
| Date Due | Dec. 17, 2028 | |
| Principal Amounts | $ 300 | |
| Consolidated Balance Sheet Amount | 300 | 300 |
| Fair Value | $ 242 | 242 |
| Interest rate | 1.69% | |
| 1.00% Long-term Note [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Date Issued | Aug. 05, 2021 | |
| Date Due | Aug. 05, 2030 | |
| Principal Amounts | $ 200 | |
| Consolidated Balance Sheet Amount | 200 | 200 |
| Fair Value | $ 151 | 151 |
| Interest rate | 1% | |
| 3.11% Long-term Note [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Date Issued | Jun. 14, 2022 | |
| Date Due | Jun. 14, 2052 | |
| Principal Amounts | $ 215 | |
| Consolidated Balance Sheet Amount | 215 | 215 |
| Fair Value | $ 171 | 171 |
| Interest rate | 3.11% | |
| Note 4 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Date Issued | Dec. 12, 2022 | |
| Date Due | Dec. 12, 2052 | |
| Principal Amounts | $ 125 | |
| Consolidated Balance Sheet Amount | 125 | 125 |
| Fair Value | $ 125 | $ 125 |
| Interest rate | 4.34% |
Related-Party Transactions (S_2
| Related-Party Transactions (Schedule Of Related-Party Interest Income ) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Related-Party Transaction [Line Items] | ||
| Interest Income | $ 5 | $ 2 |
| 1.69% Long-term Note [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Interest Received | annually | |
| Receivable Dates | December 17 | |
| Interest Income | $ 1 | 1 |
| Interest rate | 1.69% | |
| 1.00% Long-term Note [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Interest Received | annually | |
| Receivable Dates | August 5 | |
| Interest Income | $ 1 | 1 |
| Interest rate | 1% | |
| 3.11% Long-term Note [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Interest Received | annually | |
| Receivable Dates | June 14 | |
| Interest Income | $ 2 | |
| Interest rate | 3.11% | |
| 4.34% Long-term Note [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Interest Received | annually | |
| Receivable Dates | December 12 | |
| Interest Income | $ 1 | |
| Interest rate | 4.34% | |
Related-Party Transactions (Div
| Related-Party Transactions (Dividends Received On Preferred Shares) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Dividends From Preferred Shares Of Affiliate [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Dividends received on preferred stock of affiliate | $ 8 | $ 8 |
Related-Party Transactions (Aff
| Related-Party Transactions (Affiliated Quota Share Reinsurance Agreements For All New And Renewal Business For The Indicated Coverage Period) (Details) - 3 months ended Mar. 31, 2023 | CAD ($) | USD ($) |
| Coverage Period 01/01/2010-12/31/2010 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Re | Everest Re |
| Percent Ceded | 44% | 44% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | property / casualty business | property / casualty business |
| Single Occurrence Limit | $ 150,000,000 | |
| Aggregate Limit | $ 325,000,000 | |
| Coverage Period 01/01/2011-12/31/2011 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Re | Everest Re |
| Percent Ceded | 50% | 50% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | property / casualty business | property / casualty business |
| Single Occurrence Limit | $ 150,000,000 | |
| Aggregate Limit | $ 300,000,000 | |
| Coverage Period 01/01/2012-12/31/2014 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Re | Everest Re |
| Percent Ceded | 50% | 50% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | property / casualty business | property / casualty business |
| Single Occurrence Limit | $ 100,000,000 | |
| Aggregate Limit | $ 200,000,000 | |
| Coverage Period 01/01/2015-12/31/2016 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Re | Everest Re |
| Percent Ceded | 50% | 50% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | property / casualty business | property / casualty business |
| Single Occurrence Limit | $ 163,000,000 | |
| Aggregate Limit | $ 325,000,000 | |
| Coverage Period 01/01/2017-12/31/2017 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Re | Everest Re |
| Percent Ceded | 60% | 60% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | property / casualty business | property / casualty business |
| Single Occurrence Limit | $ 219,000,000 | |
| Aggregate Limit | $ 438,000,000 | |
| Coverage Period 01/01/2010-12/31/2010 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Re- Canadian Branch | Everest Re- Canadian Branch |
| Percent Ceded | 60% | 60% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | property business | property business |
| Single Occurrence Limit | $ 350,000,000 | |
| Aggregate Limit | ||
| Coverage Period 01/01/2011-12/31/2011 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Re- Canadian Branch | Everest Re- Canadian Branch |
| Percent Ceded | 60% | 60% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | property business | property business |
| Single Occurrence Limit | $ 350,000,000 | |
| Aggregate Limit | ||
| Coverage Period 01/01/2012-12/31/2012 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Re- Canadian Branch | Everest Re- Canadian Branch |
| Percent Ceded | 75% | 75% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | property / casualty business | property / casualty business |
| Single Occurrence Limit | $ 206,000,000 | |
| Aggregate Limit | $ 413,000,000 | |
| Coverage Period 01/01/2013-12/31/2013 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Re- Canadian Branch | Everest Re- Canadian Branch |
| Percent Ceded | 75% | 75% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | property / casualty business | property / casualty business |
| Single Occurrence Limit | $ 150,000,000 | |
| Aggregate Limit | $ 413,000,000 | |
| Coverage Period 01/01/2014-12/31/2017 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Re- Canadian Branch | Everest Re- Canadian Branch |
| Percent Ceded | 75% | 75% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | property / casualty business | property / casualty business |
| Single Occurrence Limit | $ 263,000,000 | |
| Aggregate Limit | $ 413,000,000 | |
| Coverage Period 01/01/2012-12/31/2017 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest Canada | Everest Canada |
| Percent Ceded | 80% | 80% |
| Assuming Company | Branch | Branch |
| Type of Business | property business | property business |
| Single Occurrence Limit | ||
| Aggregate Limit | ||
| Coverage Period 01/01/2020 [Member] | ||
| Related-Party Transaction [Line Items] | ||
| Ceding Company | Everest International Assurance | Everest International Assurance |
| Percent Ceded | 100% | 100% |
| Assuming Company | Bermuda Re | Bermuda Re |
| Type of Business | life business | life business |
| Single Occurrence Limit | ||
| Aggregate Limit |
Related-Party Transactions ((Sc
| Related-Party Transactions ((Schedule Of Loss Portfolio Transfer Reinsurance Agreements, Net Insurance Exposures And Reserves Were Transferred To An Affiliate) (Details) $ in Millions | 3 Months Ended |
| Mar. 31, 2023 USD ($) | |
| Effective Date 10/01/2001 [Member] | |
| Related-Party Transaction [Line Items] | |
| Transferring Company | Everest Re (Belgium Branch) |
| Assuming Company | Bermuda Re |
| % of Business Transfer | 100% |
| Covered Period of Transfer | All years |
| Effective Date 10/01/2008 [Member] | |
| Related-Party Transaction [Line Items] | |
| Transferring Company | Everest Re |
| Assuming Company | Bermuda Re |
| Amount of Transfer | $ 747 |
| Covered Period of Transfer | 01/01/2002-12/31/2007 |
| Effective Date 12/31/2017 [Member] | |
| Related-Party Transaction [Line Items] | |
| Transferring Company | Everest Re |
| Assuming Company | Bermuda Re |
| Amount of Transfer | $ 970 |
| Covered Period of Transfer | All years |
Related-Party Transactions (Pre
| Related-Party Transactions (Premiums And Losses Ceded By The Company To Affiliate) (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Mt Logan Re [Member] | ||
| Effects of Reinsurance [Line Items] | ||
| Ceded written premiums | $ 42 | $ 41 |
| Ceded earned premiums | 38 | 42 |
| Ceded losses and LAE | 13 | 37 |
| Bermuda Re [Member] | ||
| Effects of Reinsurance [Line Items] | ||
| Ceded written premiums | 106 | 92 |
| Ceded earned premiums | 106 | 92 |
| Ceded losses and LAE | (4) | (2) |
| Assumed written premiums | 2 | |
| Assumed earned premiums | 3 | |
| Assumed losses and LAE | ||
| Ireland Re [Member] | ||
| Effects of Reinsurance [Line Items] | ||
| Assumed written premiums | 3 | 2 |
| Assumed earned premiums | 3 | 3 |
| Assumed losses and LAE | 2 | |
| Ireland Insurance [Member] | ||
| Effects of Reinsurance [Line Items] | ||
| Assumed written premiums | 1 | 2 |
| Assumed earned premiums | 2 | 2 |
| Assumed losses and LAE | $ 1 | $ 6 |