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SCHEDULE II — CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($)
$ in Millions
1 Months Ended 12 Months Ended
May 31, 2023
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss)   $ 2,517 $ 597 $ 1,379
Adjustments to reconcile net income to net cash provided by operating activities:        
Change in other assets and liabilities, net   (339) (297) (292)
Amortization of bond premium (accrual of bond discount)   (64) 55 76
Net (gains) losses on investments   276 455 (258)
Non-cash compensation expense   49 45 43
Net cash provided by (used in) operating activities   4,553 3,695 3,833
CASH FLOWS FROM INVESTING ACTIVITIES:        
Proceeds from fixed maturities sold - available for sale   3,849 1,403 1,916
Distributions from other invested assets   245 266 257
Cost of other invested assets acquired   (902) (1,547) (757)
Net change in short-term investments   (1,034) 149 (43)
Net cash provided by (used in) investing activities   (5,902) (3,418) (3,869)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Purchase of treasury shares   0 (61) (225)
Dividends paid to shareholders   (288) (255) (247)
Net cash provided by (used in) financing activities   1,409 (359) 674
EFFECT OF EXCHANGE RATE CHANGES ON CASH   (23) 39 1
Net increase (decrease) in cash   38 (42) 639
Cash, beginning of period   1,398 1,441 802
Cash, end of period   1,437 1,398 1,441
Parent Company        
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss)   2,517 597 1,379
Adjustments to reconcile net income to net cash provided by operating activities:        
Equity in retained (earnings) deficit of subsidiaries   (2,641) (648) (1,416)
Cash dividends received from subsidiaries   365 476 320
Change in other assets and liabilities, net   (8) 28 3
Increase (decrease) in due to/from affiliates   2 2 8
Amortization of bond premium (accrual of bond discount)   0 0 0
Net (gains) losses on investments   0 0 0
Non-cash compensation expense   3 2 2
Net cash provided by (used in) operating activities   238 457 296
CASH FLOWS FROM INVESTING ACTIVITIES:        
Additional investment in subsidiaries   (377) (824) (120)
Proceeds from fixed maturities matured/called - available for sale   0 0 0
Proceeds from fixed maturities sold - available for sale   23 0 0
Distributions from other invested assets   441 237 607
Cost of fixed maturities acquired - available for sale   (23) 0 0
Cost of other invested assets acquired   (479) (26) (535)
Net change in short-term investments   0 0 0
Proceeds from repayment of long term notes receivable - affiliated   50 0 0
(Issuance) of long term notes receivable - affiliated $ (100) (100) 0 0
Net cash provided by (used in) investing activities   (465) (613) (48)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Common shares issued during the period, net   23 26 27
Proceeds from public offering of common shares   1,445 0 0
Purchase of treasury shares   0 (61) (225)
Dividends paid to shareholders   (288) (255) (247)
Proceeds from issuance (cost of repayment) of long term notes payable - affiliated   (965) 465 200
Net cash provided by (used in) financing activities   215 175 (245)
EFFECT OF EXCHANGE RATE CHANGES ON CASH   0 0 0
Net increase (decrease) in cash   (13) 19 2
Cash, beginning of period   22 3 1
Cash, end of period   9 22 3
NON-CASH TRANSACTIONS:        
Dividend of 4,297,463 shares of Everest Group, Ltd. (“Group”) common stock received by Group from Everest Preferred International Holdings (“Preferred Holdings”), a direct subsidiary   0 1,405 0
Issuance of $1,773 million promissory note payable by Group to Preferred Holdings in exchange for 5,422,508 shares of Group common stock received by Group from Preferred Holdings   0 1,773 0
Capital contribution of 9,719,971 shares of Group common stock provided from Group to Everest Re Advisors, Ltd.   $ 0 $ 3,178 $ 0