2021 Q1 Form 10-Q Financial Statement

#000109507321000017 Filed on May 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $260.4M $1.982B
YoY Change -86.86% 0.82%
Cost Of Revenue $1.431B
YoY Change 36.46%
Gross Profit $551.2M
YoY Change -39.91%
Gross Profit Margin 27.81%
Selling, General & Admin $501.4M $458.4M
YoY Change 9.38% 15.73%
% of Gross Profit 83.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.355B $1.868B
YoY Change 26.06% 21.01%
Operating Profit -$1.317B
YoY Change 110.23%
Interest Expense -$15.60M $7.583M
YoY Change -305.72% -0.63%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $373.1M -$43.62M
YoY Change -955.29% -110.52%
Income Tax $31.20M -$60.23M
% Of Pretax Income 8.36%
Net Earnings $341.9M $16.61M
YoY Change 1957.92% -95.31%
Net Earnings / Revenue 131.28% 0.84%
Basic Earnings Per Share $8.53 $0.41
Diluted Earnings Per Share $8.52 $0.41
COMMON SHARES
Basic Shares Outstanding 39.54M shares 40.20M shares
Diluted Shares Outstanding 39.60M shares 40.30M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.133B $817.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $157.0M
YoY Change 124.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.173B $1.804B
YoY Change 20.48% 9.72%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $33.60B $27.22B
YoY Change 23.41% 6.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $24.00M $175.0M
YoY Change -86.29% 105.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $50.00M
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $175.0M $302.0M
YoY Change -42.05% 54.08%
LONG-TERM LIABILITIES
Long-Term Debt $1.911B $632.0M
YoY Change 202.37% -0.32%
Other Long-Term Liabilities $578.0M $291.0M
YoY Change 98.63% 148.72%
Total Long-Term Liabilities $2.489B $923.0M
YoY Change 169.66% 22.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $175.0M $302.0M
Total Long-Term Liabilities $2.489B $923.0M
Total Liabilities $23.91B $18.64B
YoY Change 28.27% 8.36%
SHAREHOLDERS EQUITY
Retained Earnings $10.85B $10.26B
YoY Change 5.77% 4.34%
Common Stock $698.0K $696.0K
YoY Change 0.29% 0.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.646B $3.622B
YoY Change 0.65% 6.11%
Treasury Stock Shares 29.73M shares 29.64M shares
Shareholders Equity $9.683B $8.581B
YoY Change
Total Liabilities & Shareholders Equity $33.60B $27.22B
YoY Change 23.41% 6.37%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $341.9M $16.61M
YoY Change 1957.92% -95.31%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $904.4M $506.0M
YoY Change 78.73% 10.04%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$455.5M -$258.2M
YoY Change 76.41% -40.34%
Cash From Investing Activities -$455.5M -$258.2M
YoY Change 76.43% -40.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.55M $200.0M
YoY Change -88.23% 1138.28%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$108.9M -$241.1M
YoY Change -54.84% 159.14%
NET CHANGE
Cash From Operating Activities $904.4M $506.0M
Cash From Investing Activities -$455.5M -$258.2M
Cash From Financing Activities -$108.9M -$241.1M
Net Change In Cash $331.0M $9.590M
YoY Change 3351.61% -113.3%
FREE CASH FLOW
Cash From Operating Activities $904.4M $506.0M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2020Q1 re Change In Equity Adjustments In Limited Partnerships
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CY2020Q1 us-gaap Reimbursement From Limited Partnership Investment
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CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2020Q1 us-gaap Increase Decrease In Other Operating Capital Net
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CY2021Q1 us-gaap Share Based Compensation
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CY2020Q1 us-gaap Share Based Compensation
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CY2020Q1 us-gaap Amortization Of Debt Discount Premium
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2020Q1 re Proceeds From Sale Of Available For Sale Securities Debt Market Value
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CY2021Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
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CY2020Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
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CY2020Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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104085000 USD
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CY2020Q1 re Payments To Acquire Available For Sale Securities Debt Market Value
PaymentsToAcquireAvailableForSaleSecuritiesDebtMarketValue
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CY2021Q1 us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
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CY2020Q1 us-gaap Payments To Acquire Available For Sale Securities Equity
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CY2021Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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CY2020Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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CY2021Q1 us-gaap Payments For Proceeds From Short Term Investments
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CY2020Q1 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
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CY2021Q1 re Net Change In Unsettled Securities Transactions
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93610000 USD
CY2020Q1 re Net Change In Unsettled Securities Transactions
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CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021Q1 re Payments For Shares Issued For Share Based Compensation Net Of Expense
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CY2020Q1 re Payments For Shares Issued For Share Based Compensation Net Of Expense
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12573000 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2020Q1 us-gaap Payments Of Dividends Common Stock
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CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
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-108864000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-241050000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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-8972000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2832000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
331009000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9590000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
808036000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1132660000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
817626000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6417000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4920000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
1880000 USD
CY2020Q1 us-gaap Investment Income Net
InvestmentIncomeNet
147800000 USD
CY2021Q1 re Additional Contractual Commitments
AdditionalContractualCommitments
1413543000 USD
CY2020Q1 us-gaap Undistributed Earnings
UndistributedEarnings
-46666000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
2817000 USD
CY2021Q1 us-gaap Nature Of Operations
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<p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-weight: bold; font-size: 10.00pt">1. GENERAL</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">Everest Re Group, Ltd. (“Group”), a Bermuda company, through its subsidiaries, principally provides reinsurance and insurance in the U.S., Bermuda and international markets. As used in this document, “Company” means Group and its subsidiaries.</span></p>
CY2021Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-weight: bold; font-size: 10.00pt">2. BASIS OF PRESENTATION</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">The unaudited consolidated financial statements of the Company as of March 31, 2021 and December 31, 2020 and for the three months ended March 31, 2021 and 2020 include all adjustments, consisting of normal recurring accruals, which, in the opinion of management, are necessary for a fair statement of the results on an interim basis. Certain financial information, which is normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), has been omitted since it is not required for interim reporting purposes. The December 31, 2020 consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. The results for the three months ended March 31, 2021 and 2020 are not necessarily indicative of the results for a full year. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the years ended December 31, 2020, 2019 and 2018, included in the Company’s most recent Form 10-K filing.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">The Company consolidates the results of operations and financial position of all voting interest entities ("VOE") in which the Company has a controlling financial interest and all variable interest entities ("VIE") in which the Company is considered to be the primary beneficiary. The consolidation assessment, including the determination as to whether an entity qualifies as a VIE or VOE, depends on the facts and circumstances surrounding each entity. </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities (and disclosure of contingent assets and liabilities) at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Ultimate actual results could differ, possibly materially, from those estimates. This is particularly true given the fluid and continuing nature of the COVID-19 pandemic. This is an ongoing event and so is the Company’s evaluation and analysis. While the Company’s analysis considers all aspects of its operations, it does not take into account legal, regulatory or legislative intervention that could retroactively mandate or expand coverage provisions. Given the uncertainties in the current public health and economic environment, there could be an adverse impact on results for the Property &amp; Casualty industry and the Company for the remainder of the year. The impact is dependent on the shape and length of the economic recovery.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">All intercompany accounts and transactions have been eliminated. </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt; text-decoration: underline">Application of Recently Issued Accounting Standard Changes. </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-style: italic; font-size: 10.00pt">Accounting for Income Taxes.</span><span style="font-family: Calibri; font-size: 10.00pt"> In December 2019, The Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, which provides simplification of existing guidance for income taxes, including the removal of certain exceptions related to recognition of deferred tax liabilities on foreign subsidiaries. The guidance is effective for annual reporting periods beginning after December 15, 2020 and interim periods within that annual reporting period. The Company adopted the guidance as of January 1, 2021. The adoption of ASU 2019-12 did not have a material impact on the Company’s financial statements.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-style: italic; font-size: 10.00pt">Accounting for Cloud Computing Arrangement. </span><span style="font-family: Calibri; font-size: 10.00pt">In August 2018, FASB issued ASU 2018-15, which outlines accounting for implementation costs of a cloud computing arrangement that is a service contract. This guidance requires that implementation costs of a cloud computing arrangement that is a service contract must be capitalized and expensed in accordance with the existing provisions provided in Subtopic 350-40 regarding development of internal use software. In addition, any capitalized implementation costs should be amortized over the term of the hosting arrangement. The guidance is effective for annual reporting periods beginning after December 15, 2019 and interim periods within that annual reporting period. The Company adopted the guidance as of January 1, 2020. The adoption of ASU 2018-15 did not have a material impact on the Company’s financial statements.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-style: italic; font-size: 10.00pt">Accounting for Long Duration Contracts.</span><span style="font-family: Calibri; font-size: 10.00pt"> In August 2018, FASB issued ASU 2018-12, which discusses changes to the recognition, measurement and presentation of long duration contracts. The main provisions of this guidance address the following: 1) In determining liability for future policy benefits, companies must review cash flow assumptions at least annually and the discount rate assumption at each reporting period date 2) Amortization of deferred acquisition costs has been simplified to be in constant level proportion to either premiums, gross profits or gross margins 3) Disaggregated roll forwards of beginning and ending liabilities for future policy benefits are required. The guidance was originally effective for annual reporting periods beginning after December 15, 2020 and interim periods within that annual reporting period. However, FASB issued ASU 2019-09 in November 2019 and then ASU 2020-11 in November 2021, which ultimately defers the effective date of ASU 2018-12 until annual reporting periods beginning after December 15, 2022. The Company is currently evaluating the impact of the adoption of ASU 2018-12 on its financial statements.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-style: italic; font-size: 10.00pt">Valuation of Financial Instruments. </span><span style="font-family: Calibri; font-size: 10.00pt">In June 2016, FASB issued ASU 2016-13 (and has subsequently issued related guidance and amendments in ASU 2019-11 and ASU 2019-10 in November 2019) which outline guidance on the valuation of and accounting for assets measured at amortized cost and available for sale debt securities. The new guidance requires the carrying value of assets measured at amortized cost, including reinsurance and premiums receivables to be presented as the net amount expected to be collected on the financial asset (amortized cost less an allowance for credit losses valuation account). The allowance reflects expected credit losses of the financial asset which considers available information using a combination both historical information, current market conditions and reasonable and supportable forecasts. For available-for-sale debt securities, the guidance modified the previous other than temporary impairment model, now requiring an allowance for estimated credit related losses rather than a permanent impairment, which will be limited to the amount by which fair value is below amortized cost. The guidance is effective for annual and interim reporting periods beginning after December 15, 2019. The Company adopted the guidance effective January 1, 2020, on a modified retrospective basis. The adoption resulted in a cumulative reduction of $</span><span style="font-family: Calibri; font-size: 10.00pt">4,214 thousand in retained earnings, net of tax, which is disclosed separately within the Consolidated Statements of Shareholders’ Equity.</span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt"> </span></p><p style="margin-bottom: 0; text-align: justify"><span style="font-family: Calibri; font-size: 10.00pt">Any issued guidance and pronouncements, other than those directly referenced above, are deemed by the Company to be either not applicable or immaterial to its financial statements.</span></p>
CY2021Q1 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
19932190000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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19932190000 USD
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AvailableForSaleSecuritiesDebtSecuritiesMarketValue
20407480000 USD
CY2020Q4 re Available For Sale Securities Debt Securities Market Value
AvailableForSaleSecuritiesDebtSecuritiesMarketValue
20040173000 USD
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CY2020Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
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CY2021Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
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-29024000 USD
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-247999000 USD
CY2021Q1 re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
266286000 USD
CY2020Q1 re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
152117000 USD
CY2021Q1 re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
7966000 USD
CY2020Q1 re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
8216000 USD
CY2021Q1 re Future Policy Benefit Reserve Income Expense
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-291000 USD
CY2020Q1 re Future Policy Benefit Reserve Income Expense
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-211000 USD
CY2021Q1 us-gaap Investment Income Interest And Dividend
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273961000 USD
CY2020Q1 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
160122000 USD
CY2021Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
13548000 USD
CY2020Q1 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
12322000 USD
CY2021Q1 us-gaap Investment Income Net
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260413000 USD
CY2021Q1 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
1882113000 USD
CY2020Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
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CY2020Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
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1745000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
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7298000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
21774000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
8723000 USD
CY2020Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
21774000 USD
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16398997000 USD
CY2019Q4 us-gaap Liability For Claims And Claims Adjustment Expense
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13611313000 USD
CY2020Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
1843691000 USD
CY2019Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
1640712000 USD
CY2020Q4 re Reserve For Losses And Loss Adjustment Expenses Net
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14555306000 USD
CY2019Q4 re Reserve For Losses And Loss Adjustment Expenses Net
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11970601000 USD
CY2021Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
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1713253000 USD
CY2020Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
1433440000 USD
CY2020Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-2600000 USD
CY2021Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
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215302000 USD
CY2021Q1 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
837051000 USD
CY2021Q1 us-gaap Payments For Losses And Loss Adjustment Expense
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1052353000 USD
CY2021Q1 us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax Period Increase Decrease
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-5841000 USD
CY2021Q1 re Reserve For Losses And Loss Adjustment Expenses Net
ReserveForLossesAndLossAdjustmentExpensesNet
15208531000 USD
CY2020Q1 re Reserve For Losses And Loss Adjustment Expenses Net
ReserveForLossesAndLossAdjustmentExpensesNet
12168558000 USD
CY2020Q1 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
1651946000 USD
CY2021Q1 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
17090644000 USD
CY2020Q1 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
13820504000 USD
CY2021Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
1713253000 USD
CY2020Q1 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
1433440000 USD
CY2021Q1 re Public Equity Portfolio Fair Value Disclosure
PublicEquityPortfolioFairValueDisclosure
912126000 USD
CY2020Q4 re Public Equity Portfolio Fair Value Disclosure
PublicEquityPortfolioFairValueDisclosure
784746000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
1400674000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
1472236000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
341862000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
16612000 USD
CY2021Q1 us-gaap Dividends Common Stock
DividendsCommonStock
62229000 USD
CY2020Q1 us-gaap Dividends Common Stock
DividendsCommonStock
63277000 USD
CY2021Q1 us-gaap Undistributed Earnings
UndistributedEarnings
279633000 USD
CY2021Q1 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
CY2020Q1 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
276031000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-46082000 USD
CY2021Q1 re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
61415000 USD
CY2020Q1 re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
62488000 USD
CY2021Q1 re Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
337446000 USD
CY2020Q1 re Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
16406000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
39543000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
40204000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
54000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
92000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39597000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40296000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39543000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40204000 shares
CY2021Q1 re Basic Weighted Average Common Shares Outstanding And Nonvested Common Shares Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonvestedCommonSharesExpectedToVest
40059000 shares
CY2020Q1 re Basic Weighted Average Common Shares Outstanding And Nonvested Common Shares Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonvestedCommonSharesExpectedToVest
40713000 shares
CY2021Q1 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
CY2020Q1 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2021Q1 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-339110000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-334581000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-36678000 USD
CY2021Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1050000000 USD
CY2021Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
52175000 GBP
CY2021Q1 us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
376000 USD
CY2020Q1 us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
123000 USD
CY2021Q1 re Federal Home Loan Bank Advances General Debt Obligations Disclosures Maximum Percentage Of Admitted Assets Allowed For Borrowing Base
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresMaximumPercentageOfAdmittedAssetsAllowedForBorrowingBase
0.10 pure
CY2021Q1 us-gaap Security Deposit
SecurityDeposit
1293107000 USD
CY2021Q1 us-gaap Ceded Premiums Written
CededPremiumsWritten
99110000 USD
CY2020Q1 us-gaap Ceded Premiums Written
CededPremiumsWritten
110188000 USD
CY2021Q1 re Ceded Earned Premiums
CededEarnedPremiums
78107000 USD
CY2020Q1 re Ceded Earned Premiums
CededEarnedPremiums
90550000 USD
CY2021Q1 re Ceded Losses And Loss Adjustment Expenses
CededLossesAndLossAdjustmentExpenses
80843000 USD
CY2020Q1 re Ceded Losses And Loss Adjustment Expenses
CededLossesAndLossAdjustmentExpenses
45115000 USD
CY2021Q1 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
2476000 USD
CY2020Q1 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
2759000 USD
CY2021Q1 re Assumed Earned Premiums
AssumedEarnedPremiums
2476000 USD
CY2020Q1 re Assumed Earned Premiums
AssumedEarnedPremiums
2759000 USD
CY2021Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
38902000 USD
CY2020Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-210588000 USD
CY2020Q1 re Corporate Expenses
CorporateExpenses
9833000 USD
CY2021Q1 us-gaap Debt Instrument Redemption Period End Date
DebtInstrumentRedemptionPeriodEndDate
2047-05-01
CY2021Q1 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
1462000 USD
CY2020Q1 us-gaap Interest Expense Subordinated Notes And Debentures
InterestExpenseSubordinatedNotesAndDebentures
2538000 USD
CY2021Q1 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
45204000 USD
CY2020Q1 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
28592000 USD
CY2020Q1 us-gaap Net Investment Income
NetInvestmentIncome
147800000 USD
CY2021Q1 re Interest Fee And Bond Issue Cost Amortization Expense
InterestFeeAndBondIssueCostAmortizationExpense
15639000 USD
CY2020Q1 re Interest Fee And Bond Issue Cost Amortization Expense
InterestFeeAndBondIssueCostAmortizationExpense
7583000 USD
CY2020Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
7990000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-43622000 USD
CY2021Q1 re Percentage Threshold Of Company Revenue Not Exceeded By Any Other Country
PercentageThresholdOfCompanyRevenueNotExceededByAnyOtherCountry
0.05 pure

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