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RELATED-PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
RELATED-PARTY TRANSACTIONS RELATED-PARTY TRANSACTIONS
The table below displays long-term note agreements that Group entered into with Everest Re for the periods indicated. These transactions are presented as Notes Receivable – Affiliated in the Consolidated Balance Sheet of Holdings. All note agreements listed were repaid in full during the second quarter of 2023 and are no longer outstanding as of December 31, 2023. The fair value of these long-term notes is considered Level 2 in the fair value hierarchy.
December 31, 2023December 31, 2022
(Dollars in millions)Date IssuedDate DuePrincipal
Amounts		Consolidated
Balance Sheet
Amount		Fair
Value		Consolidated
Balance Sheet
Amount		Fair
Value
1.69% Long-term Note
12/17/201912/17/2028$300 $— $— $300 $242 
1.00% Long-term Note
8/5/20218/5/2030200 — — 200 151 
3.11% Long-term Note
6/14/20226/14/2052215 — — 215 171 
4.34% Long-term Note
12/12/202212/12/2052125 — — 125 125 
$840 $— $— $840 $689 
(Some amounts may not reconcile due to rounding.)
Interest income recognized in connection with these long-term notes is as follows for the periods indicated:
Years Ended December 31,
(Dollars in millions)Interest ReceivedReceivable Dates202320222021
1.69% Long-term Note
annuallyDecember 17$2 $5 $5 
1.00% Long-term Note
annuallyAugust 51 2 1 
3.11% Long-term Note
annuallyJune 145 4 — 
4.34% Long-term Note
annuallyDecember 12— — — 
$7 $11 $6 
(Some amounts may not reconcile due to rounding.)
Holdings holds 1,773.214 preferred shares of Preferred Holdings with a $1 million par value and 1.75% annual dividend rate. Holdings received these shares in December 2015 in exchange for previously held 9,719,971 Common Shares of Group. After the exchange, Holdings no longer holds any shares or has any ownership interest in Group. Holdings has reported the preferred shares in Preferred Holdings, as other invested assets, fair value, in the consolidated balance sheets with changes in fair value re-measurement recorded in net realized capital gains (losses) in the consolidated statements of operations and comprehensive income (loss). The following table presents the dividends received on the preferred shares of Preferred Holdings and on the Parent shares that are reported as net investment income in the consolidated statements of operations and comprehensive income (loss) for the periods indicated:
Years Ended December 31,
(Dollars in millions)202320222021
Dividends received on preferred stock of affiliate$31 $31 $31 
Affiliated Companies
Everest Global Services, Inc. (“Global Services”), an affiliate of Holdings, provides centralized management and home office services, through a management agreement, to Holdings and other affiliated companies within Holdings’ consolidated structure.  Services provided by Everest Global include executive managerial services, legal services, actuarial services, accounting services, information technology services and others.
The following table presents the expenses incurred by Holdings from services provided by Everest Global for the periods indicated.
Years Ended December 31,
(Dollars in millions)202320222021
Expenses incurred$204 $204 $133