XML 41 R31.htm IDEA: XBRL DOCUMENT v3.3.0.814
Related-Party Transactions (Tables)
9 Months Ended
Sep. 30, 2015
Related-Party Transactions [Abstract]  
Amendments To The Share Repurchase Program For The Common Shares Approved For Repurchase
   
 Common Shares
   
 Authorized for
Amendment Date
 
 Repurchase
(Dollars in thousands)
   
     
09/21/2004
 
 5,000,000
07/21/2008
 
 5,000,000
02/24/2010
 
 5,000,000
02/22/2012
 
 5,000,000
05/15/2013
 
 5,000,000
11/19/2014
 
 5,000,000
   
 30,000,000
Purchase Price For Common Shares
(Dollars in thousands)
   
Total purchase price
 
$
835,371
 
Dividends Received On Common Shares Reported As Net Investment Income
   
Three Months Ended
   
Nine Months Ended
 
   
September 30,
   
September 30,
 
(Dollars in thousands)
 
2015
   
2014
   
2015
   
2014
 
Dividends received
 
$
9,234
   
$
7,290
   
$
27,702
   
$
21,870
 
Expenses Incurred By Holdings From Services Provided By Affiliated Company
   
Three Months Ended
   
Nine Months Ended
 
   
September 30,
   
September 30,
 
(Dollars in thousands)
 
2015
   
2014
   
2015
   
2014
 
Expenses incurred
 
$
20,359
   
$
22,149
   
$
58,555
   
$
55,668
 
Affiliated Quota Share Reinsurance Agreements For All New And Renewal Business For The Indicated Coverage Period
       
Percent
   
Assuming
     
Single
     
Aggregate
   
Coverage Period
 
Ceding Company
 
Ceded
   
Company
 
Type of Business
 
Occurrence Limit
     
Limit
   
                                   
01/01/2002-12/31/2002
 
Everest Re
    20.0 %  
Bermuda Re
 
property / casualty business
  $ -       $ -    
                                         
01/01/2003-12/31/2003
 
Everest Re
    25.0 %  
Bermuda Re
 
property / casualty business
    -         -    
                                         
01/01/2004-12/31/2005
 
Everest Re
    22.5 %  
Bermuda Re
 
property / casualty business
    -         -    
    Everest Re     2.5 %   Everest International   property / casualty business     -         -    
                                         
01/01/2006-12/31/2006
 
Everest Re
    18.0 %  
Bermuda Re
 
property business
    125,000   (1)     -    
    Everest Re     2.0 %   Everest International   property business     -         -    
                                         
01/01/2006-12/31/2007
 
Everest Re
    31.5 %  
Bermuda Re
 
casualty business
    -         -    
    Everest Re     3.5 %   Everest International   casualty business     -         -    
                                         
01/01/2007-12/31/2007
 
Everest Re
    22.5 %  
Bermuda Re
 
property business
    130,000   (1)     -    
    Everest Re     2.5 %   Everest International   property business     -         -    
                                         
01/01/2008-12/31/2008
 
Everest Re
    36.0 %  
Bermuda Re
 
property / casualty business
    130,000   (1)     275,000   (2)
    Everest Re     4.0 %   Everest International   property / casualty business     -         -    
                                         
01/01/2009-12/31/2009
 
Everest Re
    36.0 %  
Bermuda Re
 
property / casualty business
    150,000   (1)     325,000   (2)
    Everest Re     8.0 %   Everest International   property / casualty business     -         -    
                                         
01/01/2010-12/31/2010
 
Everest Re
    44.0 %  
Bermuda Re
 
property / casualty business
    150,000         325,000    
                                         
01/01/2011-12/31/2011
 
Everest Re
    50.0 %  
Bermuda Re
 
property / casualty business
    150,000         300,000    
                                         
01/01/2012-12/31/2014
 
Everest Re
    50.0 %  
Bermuda Re
 
property / casualty business
    100,000         200,000    
                                         
01/01/2015   Everest Re     50.0 %   Bermuda Re   property / casualty business     162,500         325,000    
                                       
01/01/2003-12/31/2006
 
Everest Re- Canadian Branch
    50.0 %  
Bermuda Re
 
property business
    -         -    
01/01/2007-12/31/2009
 
Everest Re- Canadian Branch
    60.0 %  
Bermuda Re
 
property business
    -         -    
01/01/2010-12/31/2010
 
Everest Re- Canadian Branch
    60.0 %  
Bermuda Re
 
property business
    350,000   (3)     -    
01/01/2011-12/31/2011
 
Everest Re- Canadian Branch
    60.0 %  
Bermuda Re
 
property business
    350,000   (3)     -    
01/01/2012-12/31/2012
 
Everest Re- Canadian Branch
    75.0 %  
Bermuda Re
 
property / casualty business
    206,250   (3)     412,500   (3)
01/01/2013-12/31/2013
 
Everest Re- Canadian Branch
    75.0 %  
Bermuda Re
 
property / casualty business
    150,000   (3)     412,500   (3)
01/01/2014    Everest Re- Canadian Branch     75.0 %   Bermuda Re   property / casualty business      262,500   (3)     412,500   (3)
 
01/01/2012
 
Everest Canada
    80.0 %  
Everest Re- Canadian Branch
 
property business
    -         -    
 
(1)
 The single occurance limit is applied before the loss cessions to either Bermuda Re or Everest International.                          
(2)
 The aggregate limit is applied before the loss cessions to either Bermuda Re or Everest International.                          
(3)
 Amounts shown are Canadian dollars.    
Liability Limits For Any Losses Per One Occurrence
   
Liability Limits
 
(Dollars in thousands)
 
Exceeding
   
Not to Exceed
 
Losses per one occurrence
 
$
100,000
   
$
150,000
 
Loss Portfolio Transfer Reinsurance Agreements, Net Insurance Exposures And Reserves Were Transferred To An Affiliate
(Dollars in thousands)
                            
                               
Effective
     
Transferring
     
Assuming
   
% of Business or
   
Covered Period
Date
     
Company
     
Company
   
Amount of Transfer
   
of Transfer
                               
09/19/2000
     
Mt. McKinley
     
Bermuda Re
     
100
%
 
All years
10/01/2001
     
Everest Re  (Belgium Branch)
     
Bermuda Re
     
100
%
 
All years
10/01/2008
     
Everest Re
     
Bermuda Re
   
$
747,022
   
01/01/2002-12/31/2007
Premiums And Losses Ceded By The Company To Affiliate
   
Three Months Ended
   
Nine Months Ended
 
Bermuda Re
 
September 30,
   
September 30,
 
(Dollars in thousands)
 
2015
   
2014
   
2015
   
2014
 
Ceded written premiums
 
$
646,001
   
$
664,316
   
$
1,713,502
   
$
1,706,390
 
Ceded earned premiums
   
591,656
     
598,641
     
1,708,807
     
1,613,741
 
Ceded losses and LAE (a)
   
343,660
     
344,513
     
984,371
     
879,336
 



   
Three Months Ended
   
Nine Months Ended
 
Everest International
 
September 30,
   
September 30,
 
(Dollars in thousands)
 
2015
   
2014
   
2015
   
2014
 
Ceded written premiums
 
$
168
   
$
131
   
$
313
   
$
219
 
Ceded earned premiums
   
208
     
176
     
441
     
450
 
Ceded losses and LAE
   
(724
)
   
(321
)
   
156
     
1,823
 



   
Three Months Ended
   
Nine Months Ended
 
Everest Canada
 
September 30,
   
September 30,
 
(Dollars in thousands)
 
2015
   
2014
   
2015
   
2014
 
Assumed written premiums
 
$
11,046
   
$
10,425
   
$
29,533
   
$
25,650
 
Assumed earned premiums
   
9,174
     
7,106
     
26,498
     
17,062
 
Assumed losses and LAE
   
4,041
     
4,104
     
15,062
     
10,487
 

   
Three Months Ended
   
Nine Months Ended
 
Mt. Logan Re
 
September 30,
   
September 30,
 
(Dollars in thousands)
 
2015
   
2014
   
2015
   
2014
 
Ceded written premiums
 
$
68,078
   
$
44,728
   
$
162,640
   
$
93,322
 
Ceded earned premiums
   
55,234
     
38,458
     
141,668
     
78,975
 
Ceded losses and LAE
   
17,071
     
3,113
     
38,542
     
17,904
 
                                 
Assumed written premiums
   
4,230
     
578
     
11,626
     
10,497
 
Assumed earned premiums
   
4,230
     
5,786
     
11,626
     
10,497
 
Assumed losses and LAE
   
-
     
-
     
-
     
-
 

(a) Ceded losses and LAE include the Mt. McKinley loss portfolio transfer that constitutes losses ceded under retroactive reinsurance and therefore, in accordance with FASB guidance, amortization of deferred gain on retroactive reinsurance is reflected in other income on the consolidated statements of operations and comprehensive income (loss). Upon the sale of Mt. McKinley, the value of the remaining deferred gain on retroactive reinsurance was included in the calculation of the realized gain on sale of subsidiary.