2022 Q4 Form 10-Q Financial Statement

#000109507322000026 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $3.253B $3.073B $2.925B
YoY Change 4.25% 5.04% 12.08%
Cost Of Revenue $2.623B $2.274B
YoY Change 15.33% 30.99%
Gross Profit $450.0M $651.1M
YoY Change -30.89% -25.5%
Gross Profit Margin 14.64% 22.26%
Selling, General & Admin $667.0M $657.0M $582.2M
YoY Change 7.73% 12.86% 27.66%
% of Gross Profit 146.0% 89.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.660B $3.449B $2.998B
YoY Change 2.43% 15.06% 35.88%
Operating Profit -$2.999B -$2.346B
YoY Change 27.81% 76.15%
Interest Expense -$25.00M -$161.0M -$15.54M
YoY Change 7.0% 936.1% -333.99%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $568.0M -$401.0M -$87.72M
YoY Change 13.59% 357.14% -132.19%
Income Tax $72.00M -$82.00M -$14.25M
% Of Pretax Income 12.68%
Net Earnings $489.0M -$319.0M -$73.47M
YoY Change 13.53% 334.2% -130.23%
Net Earnings / Revenue 15.03% -10.38% -2.51%
Basic Earnings Per Share -$8.22 -$1.88
Diluted Earnings Per Share $12.35 -$8.22 -$1.876M
COMMON SHARES
Basic Shares Outstanding 39.17M shares 39.41M shares 39.16M shares
Diluted Shares Outstanding 38.80M shares 39.20M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.398B $1.679B $1.068B
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
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.085B $3.079B $2.855B
YoY Change 39.9% 7.83% 49.36%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $39.97B $38.14B $36.61B
YoY Change 4.66% 4.2% 21.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $19.00M $39.00M $23.27M
YoY Change 9.52% 67.62% -86.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.00M $173.0M $111.0M
YoY Change -41.26% 55.9% -61.87%
LONG-TERM LIABILITIES
Long-Term Debt $3.084B $3.084B $1.911B
YoY Change -0.15% 61.39% 168.77%
Other Long-Term Liabilities $600.0M $658.0M $687.0M
YoY Change -25.05% -4.22% 49.67%
Total Long-Term Liabilities $3.684B $3.742B $2.598B
YoY Change -5.28% 44.04% 122.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.00M $173.0M $111.0M
Total Long-Term Liabilities $3.684B $3.742B $2.598B
Total Liabilities $31.53B $30.50B $26.63B
YoY Change 12.4% 14.52% 29.5%
SHAREHOLDERS EQUITY
Retained Earnings $12.04B $11.61B $11.33B
YoY Change 2.92% 2.47% 7.23%
Common Stock $1.000M $1.000M $698.0K
YoY Change 43.27% 43.27% 0.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.908B $3.907B $3.822B
YoY Change 1.58% 2.22% 5.52%
Treasury Stock Shares 30.80M shares 30.80M shares 30.43M shares
Shareholders Equity $8.441B $7.649B $9.979B
YoY Change
Total Liabilities & Shareholders Equity $39.97B $38.14B $36.61B
YoY Change 4.66% 4.2% 21.4%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $489.0M -$319.0M -$73.47M
YoY Change 13.53% 334.2% -130.23%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.016B $1.118B $1.163B
YoY Change -2.57% -3.83% 7.05%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.222B -$1.439B -$969.1M
YoY Change -30.85% 48.5% -11.92%
Cash From Investing Activities -$1.222B -$1.439B -$969.1M
YoY Change -30.85% 48.5% -11.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -67.00M -132.4M -223.4M
YoY Change -106.16% -40.73% -952.75%
NET CHANGE
Cash From Operating Activities 1.016B 1.118B 1.163B
Cash From Investing Activities -1.222B -1.439B -969.1M
Cash From Financing Activities -67.00M -132.4M -223.4M
Net Change In Cash -273.0M -453.5M -29.97M
YoY Change -175.24% 1413.34% -351.83%
FREE CASH FLOW
Cash From Operating Activities $1.016B $1.118B $1.163B
Capital Expenditures
Free Cash Flow
YoY Change

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<div id="TextBlockContainer546" style="position:relative;font-family:'Calibri';font-size:13.28px;color:#000000;line-height:normal;width:625px;height:84px;"><div id="a2811" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">1.<div style="display:inline-block;width:9px"> </div>GENERAL </div><div id="a2816" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:16px;"><div style="display:inline-block;width:3px"> </div></div><div id="a2818" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:32px;">Everest<div style="display:inline-block;width:4px"> </div>Re Group,<div style="display:inline-block;width:5px"> </div>Ltd. (“Group”),<div style="display:inline-block;width:5px"> </div>a Bermuda company,<div style="display:inline-block;width:6px"> </div>through its<div style="display:inline-block;width:5px"> </div>subsidiaries, principally<div style="display:inline-block;width:5px"> </div>provides reinsurance </div><div id="a2820" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:49px;">and<div style="display:inline-block;width:5px"> </div>insurance<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>U.S.,<div style="display:inline-block;width:5px"> </div>Bermuda<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>international<div style="display:inline-block;width:5px"> </div>markets.<div style="display:inline-block;width:10px"> </div>As<div style="display:inline-block;width:5px"> </div>used<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>this<div style="display:inline-block;width:5px"> </div>document,<div style="display:inline-block;width:5px"> </div>“Company”<div style="display:inline-block;width:5px"> </div>means </div><div id="a2821" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:65px;">Group and its subsidiaries.</div></div>
us-gaap Basis Of Accounting
BasisOfAccounting
<div id="TextBlockContainer548" style="position:relative;font-family:'Calibri';font-size:13.28px;color:#000000;line-height:normal;width:625px;height:671px;"><div id="a2824" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:bold;font-style:normal;color:#000000;left:4px;top:0px;">2.<div style="display:inline-block;width:9px"> </div>BASIS OF PRESENTATION </div><div id="a2830" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:32px;">The unaudited<div style="display:inline-block;width:5px"> </div>consolidated<div style="display:inline-block;width:5px"> </div>financial statements<div style="display:inline-block;width:6px"> </div>of the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>as of<div style="display:inline-block;width:5px"> </div>September<div style="display:inline-block;width:4px"> </div>30, 2022<div style="display:inline-block;width:5px"> </div>and December<div style="display:inline-block;width:5px"> </div>31, </div><div id="a2835" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:49px;">2021 and for the three<div style="display:inline-block;width:5px"> </div>and nine months ended<div style="display:inline-block;width:5px"> </div>September 30, 2022 and<div style="display:inline-block;width:4px"> </div>2021 include all adjustments,<div style="display:inline-block;width:5px"> </div>consisting </div><div id="a2840" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:65px;">of<div style="display:inline-block;width:5px"> </div>normal<div style="display:inline-block;width:5px"> </div>recurring<div style="display:inline-block;width:5px"> </div>accruals,<div style="display:inline-block;width:5px"> </div>which,<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>opinion<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>management,<div style="display:inline-block;width:5px"> </div>are<div style="display:inline-block;width:5px"> </div>necessary<div style="display:inline-block;width:5px"> </div>for<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>fair<div style="display:inline-block;width:5px"> </div>statement<div style="display:inline-block;width:5px"> </div>of<div style="display:inline-block;width:5px"> </div>the </div><div id="a2842" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:81px;">results<div style="display:inline-block;width:7px"> </div>on<div style="display:inline-block;width:7px"> </div>an<div style="display:inline-block;width:7px"> </div>interim<div style="display:inline-block;width:7px"> </div>basis.<div style="display:inline-block;width:13px"> </div>Certain<div style="display:inline-block;width:7px"> </div>financial<div style="display:inline-block;width:7px"> </div>information,<div style="display:inline-block;width:8px"> </div>which<div style="display:inline-block;width:7px"> </div>is<div style="display:inline-block;width:7px"> </div>normally<div style="display:inline-block;width:7px"> </div>included<div style="display:inline-block;width:7px"> </div>in<div style="display:inline-block;width:7px"> </div>annual<div style="display:inline-block;width:7px"> </div>financial </div><div id="a2843" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:98px;">statements<div style="display:inline-block;width:7px"> </div>prepared<div style="display:inline-block;width:7px"> </div>in<div style="display:inline-block;width:7px"> </div>accordance<div style="display:inline-block;width:7px"> </div>with<div style="display:inline-block;width:7px"> </div>accounting<div style="display:inline-block;width:7px"> </div>principles<div style="display:inline-block;width:7px"> </div>generally<div style="display:inline-block;width:7px"> </div>accepted<div style="display:inline-block;width:7px"> </div>in<div style="display:inline-block;width:7px"> </div>the<div style="display:inline-block;width:7px"> </div>United<div style="display:inline-block;width:7px"> </div>States<div style="display:inline-block;width:7px"> </div>of </div><div id="a2845" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:114px;">America (“GAAP”),<div style="display:inline-block;width:5px"> </div>has been<div style="display:inline-block;width:5px"> </div>omitted since<div style="display:inline-block;width:5px"> </div>it is<div style="display:inline-block;width:5px"> </div>not required<div style="display:inline-block;width:5px"> </div>for interim<div style="display:inline-block;width:5px"> </div>reporting purposes.<div style="display:inline-block;width:9px"> </div>The December<div style="display:inline-block;width:5px"> </div>31, </div><div id="a2846" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:130px;">2021<div style="display:inline-block;width:5px"> </div>consolidated<div style="display:inline-block;width:5px"> </div>balance<div style="display:inline-block;width:5px"> </div>sheet<div style="display:inline-block;width:5px"> </div>data<div style="display:inline-block;width:5px"> </div>was<div style="display:inline-block;width:5px"> </div>derived<div style="display:inline-block;width:5px"> </div>from<div style="display:inline-block;width:5px"> </div>audited<div style="display:inline-block;width:5px"> </div>financial<div style="display:inline-block;width:5px"> </div>statements<div style="display:inline-block;width:6px"> </div>but<div style="display:inline-block;width:5px"> </div>does<div style="display:inline-block;width:5px"> </div>not<div style="display:inline-block;width:5px"> </div>include<div style="display:inline-block;width:5px"> </div>all </div><div id="a2847" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:147px;">disclosures<div style="display:inline-block;width:4px"> </div>required by<div style="display:inline-block;width:5px"> </div>GAAP.<div style="display:inline-block;width:9px"> </div>The results<div style="display:inline-block;width:5px"> </div>for the<div style="display:inline-block;width:5px"> </div>three and<div style="display:inline-block;width:5px"> </div>nine months<div style="display:inline-block;width:5px"> </div>ended September<div style="display:inline-block;width:5px"> </div>30, 2022<div style="display:inline-block;width:5px"> </div>and 2021 </div><div id="a2854" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:163px;">are<div style="display:inline-block;width:6px"> </div>not<div style="display:inline-block;width:6px"> </div>necessarily<div style="display:inline-block;width:6px"> </div>indicative<div style="display:inline-block;width:7px"> </div>of<div style="display:inline-block;width:6px"> </div>the<div style="display:inline-block;width:6px"> </div>results<div style="display:inline-block;width:6px"> </div>for<div style="display:inline-block;width:6px"> </div>a<div style="display:inline-block;width:6px"> </div>full<div style="display:inline-block;width:6px"> </div>year.<div style="display:inline-block;width:14px"> </div>These<div style="display:inline-block;width:6px"> </div>financial<div style="display:inline-block;width:6px"> </div>statements<div style="display:inline-block;width:7px"> </div>should<div style="display:inline-block;width:6px"> </div>be<div style="display:inline-block;width:6px"> </div>read<div style="display:inline-block;width:6px"> </div>in </div><div id="a2855" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:179px;">conjunction with the audited consolidated<div style="display:inline-block;width:5px"> </div>financial statements and<div style="display:inline-block;width:5px"> </div>notes thereto for<div style="display:inline-block;width:4px"> </div>the years ended December </div><div id="a2857" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:195px;">31, 2021, 2020 and 2019, included in the Company’s<div style="display:inline-block;width:5px"> </div>most recent Form 10-K filing. </div><div id="a2862" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:228px;">The Company<div style="display:inline-block;width:5px"> </div>consolidates<div style="display:inline-block;width:5px"> </div>the results<div style="display:inline-block;width:5px"> </div>of operations<div style="display:inline-block;width:5px"> </div>and financial<div style="display:inline-block;width:5px"> </div>position of<div style="display:inline-block;width:5px"> </div>all voting<div style="display:inline-block;width:5px"> </div>interest<div style="display:inline-block;width:5px"> </div>entities ("VOE") </div><div id="a2863" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:244px;">in<div style="display:inline-block;width:5px"> </div>which<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>Company<div style="display:inline-block;width:5px"> </div>has<div style="display:inline-block;width:5px"> </div>a controlling<div style="display:inline-block;width:6px"> </div>financial<div style="display:inline-block;width:5px"> </div>interest<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>all<div style="display:inline-block;width:4px"> </div>variable<div style="display:inline-block;width:5px"> </div>interest<div style="display:inline-block;width:5px"> </div>entities<div style="display:inline-block;width:5px"> </div>("VIE")<div style="display:inline-block;width:4px"> </div>in<div style="display:inline-block;width:5px"> </div>which<div style="display:inline-block;width:5px"> </div>the </div><div id="a2866" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:261px;">Company is considered to be the primary beneficiary.<div style="display:inline-block;width:6px"> </div>The consolidation assessment, including<div style="display:inline-block;width:5px"> </div>the determination </div><div id="a2867" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:277px;">as<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>whether<div style="display:inline-block;width:5px"> </div>an<div style="display:inline-block;width:5px"> </div>entity<div style="display:inline-block;width:5px"> </div>qualifies<div style="display:inline-block;width:5px"> </div>as<div style="display:inline-block;width:5px"> </div>a<div style="display:inline-block;width:5px"> </div>VIE<div style="display:inline-block;width:5px"> </div>or<div style="display:inline-block;width:5px"> </div>VOE,<div style="display:inline-block;width:5px"> </div>depends<div style="display:inline-block;width:5px"> </div>on<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>facts<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:5px"> </div>circumstances<div style="display:inline-block;width:6px"> </div>surrounding<div style="display:inline-block;width:5px"> </div>each </div><div id="a2870" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:293px;">entity.<div style="display:inline-block;width:4px"> </div></div><div id="a2873" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:326px;">The preparation<div style="display:inline-block;width:5px"> </div>of financial<div style="display:inline-block;width:5px"> </div>statements<div style="display:inline-block;width:5px"> </div>in conformity<div style="display:inline-block;width:6px"> </div>with GAAP<div style="display:inline-block;width:5px"> </div>requires<div style="display:inline-block;width:4px"> </div>management<div style="display:inline-block;width:4px"> </div>to make<div style="display:inline-block;width:5px"> </div>estimates<div style="display:inline-block;width:4px"> </div>and </div><div id="a2874" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:342px;">assumptions<div style="display:inline-block;width:5px"> </div>that<div style="display:inline-block;width:4px"> </div>affect<div style="display:inline-block;width:5px"> </div>the reported<div style="display:inline-block;width:6px"> </div>amounts<div style="display:inline-block;width:5px"> </div>of assets<div style="display:inline-block;width:5px"> </div>and liabilities<div style="display:inline-block;width:6px"> </div>(and disclosure<div style="display:inline-block;width:6px"> </div>of contingent<div style="display:inline-block;width:6px"> </div>assets<div style="display:inline-block;width:5px"> </div>and </div><div id="a2876" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:358px;">liabilities) at the date of the financial<div style="display:inline-block;width:4px"> </div>statements and the reported<div style="display:inline-block;width:5px"> </div>amounts of revenues and expenses<div style="display:inline-block;width:5px"> </div>during the </div><div id="a2877" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:374px;">reporting period.<div style="display:inline-block;width:7px"> </div>Ultimate actual results could differ,<div style="display:inline-block;width:6px"> </div>possibly materially,<div style="display:inline-block;width:5px"> </div>from those estimates.<div style="display:inline-block;width:7px"> </div></div><div id="a2881" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:407px;">All intercompany accounts<div style="display:inline-block;width:5px"> </div>and transactions have been eliminated.<div style="display:inline-block;width:8px"> </div></div><div id="a2884" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:440px;">Certain<div style="display:inline-block;width:5px"> </div>reclassifications<div style="display:inline-block;width:5px"> </div>and<div style="display:inline-block;width:4px"> </div>format<div style="display:inline-block;width:5px"> </div>changes<div style="display:inline-block;width:5px"> </div>have<div style="display:inline-block;width:5px"> </div>been<div style="display:inline-block;width:5px"> </div>made<div style="display:inline-block;width:4px"> </div>to<div style="display:inline-block;width:5px"> </div>prior<div style="display:inline-block;width:4px"> </div>years’<div style="display:inline-block;width:5px"> </div>amounts<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>conform<div style="display:inline-block;width:5px"> </div>to<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>2022 </div><div id="a2885" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:456px;">presentation. </div><div id="a2888" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:488px;">Application of Recently Issued Accounting<div style="display:inline-block;width:5px"> </div>Standard Changes.<div style="display:inline-block;width:7px"> </div></div><div id="a2892" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:521px;">The Company did<div style="display:inline-block;width:5px"> </div>not adopt any<div style="display:inline-block;width:5px"> </div>new accounting standards<div style="display:inline-block;width:5px"> </div>that had a<div style="display:inline-block;width:5px"> </div>material impact during<div style="display:inline-block;width:4px"> </div>the three and<div style="display:inline-block;width:4px"> </div>nine </div><div id="a2893" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:537px;">months ended<div style="display:inline-block;width:4px"> </div>September 30,<div style="display:inline-block;width:5px"> </div>2022.<div style="display:inline-block;width:7px"> </div>The Company<div style="display:inline-block;width:5px"> </div>assessed the<div style="display:inline-block;width:4px"> </div>adoption impacts<div style="display:inline-block;width:5px"> </div>of recently<div style="display:inline-block;width:4px"> </div>issued accounting </div><div id="a2894" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:554px;">standards<div style="display:inline-block;width:5px"> </div>by the<div style="display:inline-block;width:5px"> </div>Financial Accounting<div style="display:inline-block;width:6px"> </div>Standards<div style="display:inline-block;width:5px"> </div>Board on<div style="display:inline-block;width:5px"> </div>the Company’s<div style="display:inline-block;width:6px"> </div>consolidated<div style="display:inline-block;width:5px"> </div>financial statements<div style="display:inline-block;width:6px"> </div>as </div><div id="a2896" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:570px;">well as<div style="display:inline-block;width:5px"> </div>material updates<div style="display:inline-block;width:6px"> </div>to previous<div style="display:inline-block;width:6px"> </div>assessments,<div style="display:inline-block;width:4px"> </div>if any,<div style="display:inline-block;width:6px"> </div>from the<div style="display:inline-block;width:5px"> </div>Company’s<div style="display:inline-block;width:5px"> </div>Annual Report<div style="display:inline-block;width:6px"> </div>on Form<div style="display:inline-block;width:5px"> </div>10-K for </div><div id="a2899" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:586px;">the<div style="display:inline-block;width:5px"> </div>year<div style="display:inline-block;width:5px"> </div>ended<div style="display:inline-block;width:5px"> </div>December<div style="display:inline-block;width:5px"> </div>31,<div style="display:inline-block;width:5px"> </div>2021.<div style="display:inline-block;width:10px"> </div>There<div style="display:inline-block;width:5px"> </div>were<div style="display:inline-block;width:5px"> </div>no<div style="display:inline-block;width:5px"> </div>accounting<div style="display:inline-block;width:6px"> </div>standards<div style="display:inline-block;width:6px"> </div>issued<div style="display:inline-block;width:5px"> </div>in<div style="display:inline-block;width:5px"> </div>the<div style="display:inline-block;width:5px"> </div>nine<div style="display:inline-block;width:5px"> </div>months<div style="display:inline-block;width:5px"> </div>ended </div><div id="a2901" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:602px;">September 30, 2022, that are expected to<div style="display:inline-block;width:5px"> </div>have a material impact to Group. </div><div id="a2907" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:635px;">Any<div style="display:inline-block;width:6px"> </div>issued<div style="display:inline-block;width:6px"> </div>guidance<div style="display:inline-block;width:6px"> </div>and<div style="display:inline-block;width:5px"> </div>pronouncements,<div style="display:inline-block;width:6px"> </div>other<div style="display:inline-block;width:6px"> </div>than<div style="display:inline-block;width:6px"> </div>those<div style="display:inline-block;width:6px"> </div>directly<div style="display:inline-block;width:6px"> </div>referenced<div style="display:inline-block;width:6px"> </div>above,<div style="display:inline-block;width:6px"> </div>are<div style="display:inline-block;width:6px"> </div>deemed<div style="display:inline-block;width:6px"> </div>by<div style="display:inline-block;width:6px"> </div>the </div><div id="a2908" style="position:absolute;font-family:'Calibri';font-size:13.28px;font-weight:normal;font-style:normal;color:#000000;left:4px;top:651px;">Company to be either not applicable or immaterial to<div style="display:inline-block;width:5px"> </div>its financial statements.</div></div>
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
23204000000 usd
CY2022Q3 re Reclassification Of Investments Fixed Maturity Available For Sale At Fair Value To Fixed Maturity Held To Maturity At Amortized Cost Net Of Credit Allowances
ReclassificationOfInvestmentsFixedMaturityAvailableForSaleAtFairValueToFixedMaturityHeldToMaturityAtAmortizedCostNetOfCreditAllowances
722000000 usd
CY2022Q3 re Debt Securities Held To Maturity Transfer From Available For Sale Unrealized Gain Loss
DebtSecuritiesHeldToMaturityTransferFromAvailableForSaleUnrealizedGainLoss
-53000000 usd
CY2021Q3 us-gaap Investment Income Net
InvestmentIncomeNet
293000000 usd
us-gaap Investment Income Net
InvestmentIncomeNet
620000000 usd
us-gaap Investment Income Net
InvestmentIncomeNet
960000000 usd
CY2022Q3 re Additional Contractual Commitments
AdditionalContractualCommitments
2500000000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-319000000 usd
CY2021Q3 us-gaap Profit Loss
ProfitLoss
-73000000 usd
us-gaap Profit Loss
ProfitLoss
101000000 usd
re Number Of Securities Held As Primary Beneficiary
NumberOfSecuritiesHeldAsPrimaryBeneficiary
0 item
CY2021 re Number Of Securities Held As Primary Beneficiary
NumberOfSecuritiesHeldAsPrimaryBeneficiary
0 item
CY2022Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
-129000000 usd
CY2021Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
-4000000 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
-519000000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-724000000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-109000000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-2484000000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-344000000 usd
CY2022Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-53000000 usd
CY2021Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-7000000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-285000000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-36000000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-671000000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-101000000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-2199000000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-308000000 usd
us-gaap Profit Loss
ProfitLoss
948000000 usd
CY2022Q3 us-gaap Dividends Common Stock
DividendsCommonStock
65000000 usd
CY2022Q3 re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
167000000 usd
CY2021Q3 re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
308000000 usd
re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
661000000 usd
re Gross Investment Income Before Adjustment
GrossInvestmentIncomeBeforeAdjustment
992000000 usd
CY2021Q3 re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
1000000 usd
re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
4000000 usd
re Funds Held Interest Income Expense
FundsHeldInterestIncomeExpense
12000000 usd
re Future Policy Benefit Reserve Income Expense
FuturePolicyBenefitReserveIncomeExpense
-1000000 usd
CY2022Q3 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
167000000 usd
CY2021Q3 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
309000000 usd
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
665000000 usd
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
1004000000 usd
CY2022Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
15000000 usd
CY2021Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
16000000 usd
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
45000000 usd
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
44000000 usd
CY2022Q3 us-gaap Investment Income Net
InvestmentIncomeNet
151000000 usd
CY2021Q3 us-gaap Dividends Common Stock
DividendsCommonStock
61000000 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
139000000 usd
CY2022Q2 us-gaap Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLoss
43000000 usd
us-gaap Dividends Common Stock
DividendsCommonStock
186000000 usd
CY2021Q3 us-gaap Undistributed Earnings
UndistributedEarnings
-135000000 usd
us-gaap Undistributed Earnings
UndistributedEarnings
-90000000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLoss
30000000 usd
CY2022Q3 re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossNotPreviouslyRecorded
9000000 usd
re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossNotPreviouslyRecorded
32000000 usd
us-gaap Undistributed Earnings
UndistributedEarnings
763000000 usd
CY2022Q3 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
1.000 pure
CY2022Q3 re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Purchased With Credit Deterioration Increase
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
3000000 usd
re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Purchased With Credit Deterioration Increase
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
4000000 usd
CY2022Q3 re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossSecuritiesSold
-8000000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
1841000000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
1803000000 usd
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
3635000000 usd
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
3179000000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
6300000000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
5600000000 usd
CY2021Q2 us-gaap Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLoss
25000000 usd
CY2020Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLoss
2000000 usd
CY2021Q3 re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossNotPreviouslyRecorded
5000000 usd
re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossNotPreviouslyRecorded
27000000 usd
CY2021Q3 re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Purchased With Credit Deterioration Increase
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
3000000 usd
re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Purchased With Credit Deterioration Increase
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
5000000 usd
CY2021Q3 re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossSecuritiesSold
-1000000 usd
re Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLossSecuritiesSold
-2000000 usd
CY2021Q3 us-gaap Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLoss
32000000 usd
CY2021Q3 us-gaap Debt Securities Available For Sale And Held To Maturity Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityAllowanceForCreditLoss
32000000 usd
us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div id="TextBlockContainer641" style="position:relative;font-family:'Calibri';font-size:10.72px;color:#000000;line-height:normal;width:620px;height:361px;"><div id="a8208" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:485px;top:0px;">Nine Months Ended </div><div id="a8210" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:15px;"><div style="display:inline-block;width:5px"> </div></div><div id="a8212" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:496px;top:15px;">September 30, </div><div id="a8216" style="position:absolute;font-family:'Calibri';font-size:9.28px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:32px;">(Dollars in millions) </div><div id="a8218" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:471px;top:31px;">2022 </div><div id="a8221" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:563px;top:31px;">2021 </div><div id="a8223" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:46px;">Gross reserves beginning of period </div><div id="a8225" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:439px;top:46px;">$ </div><div id="a8227" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:491px;top:46px;">19,009</div><div id="a8230" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:531px;top:46px;">$ </div><div id="a8232" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:583px;top:46px;">16,322</div><div id="a8234" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:61px;"><div style="display:inline-block;width:14px"> </div>Less reinsurance recoverables on unpaid losses </div><div id="a8238" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:494px;top:61px;display:flex;">(1,946)</div><div id="a8242" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:586px;top:61px;display:flex;">(1,844)</div><div id="a8244" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:76px;"><div style="display:inline-block;width:26px"> </div>Net reserves beginning of period </div><div id="a8248" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:491px;top:76px;">17,063</div><div id="a8252" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:583px;top:76px;">14,478</div><div id="a8260" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:107px;">Incurred related to: </div><div id="a8267" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:122px;"><div style="display:inline-block;width:14px"> </div>Current year </div><div id="a8271" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:497px;top:122px;">6,291</div><div id="a8275" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:122px;">5,578</div><div id="a8277" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:137px;"><div style="display:inline-block;width:14px"> </div>Prior years </div><div id="a8281" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:512px;top:137px;display:flex;">(2)</div><div id="a8285" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:604px;top:137px;display:flex;">(6)</div><div id="a8287" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:153px;"><div style="display:inline-block;width:26px"> </div>Total incurred losses and LAE </div><div id="a8291" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:497px;top:153px;">6,289</div><div id="a8295" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:153px;">5,572</div><div id="a8303" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:183px;">Paid related to: </div><div id="a8310" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:198px;"><div style="display:inline-block;width:14px"> </div>Current year<div style="display:inline-block;width:5px"> </div></div><div id="a8314" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:497px;top:198px;">1,794</div><div id="a8318" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:198px;">1,376</div><div id="a8320" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:214px;"><div style="display:inline-block;width:14px"> </div>Prior years </div><div id="a8324" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:497px;top:214px;">1,841</div><div id="a8328" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:214px;">1,803</div><div id="a8330" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:229px;"><div style="display:inline-block;width:26px"> </div>Total paid losses and LAE </div><div id="a8334" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:497px;top:229px;">3,635</div><div id="a8338" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:229px;">3,179</div><div id="a8346" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:12px;top:262px;">Foreign exchange/translation adjustment </div><div id="a8349" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:502px;top:262px;display:flex;">(605)</div><div id="a8353" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:599px;top:262px;display:flex;">(41)</div><div id="a8361" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:293px;">Net reserves end of period </div><div id="a8364" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:491px;top:293px;">19,112</div><div id="a8368" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:583px;top:293px;">16,831</div><div id="a8370" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:308px;"><div style="display:inline-block;width:14px"> </div>Plus reinsurance recoverables on unpaid losses </div><div id="a8374" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:497px;top:308px;">2,110</div><div id="a8378" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:589px;top:308px;">2,033</div><div id="a8380" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:323px;"><div style="display:inline-block;width:26px"> </div>Gross reserves end of period </div><div id="a8383" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:439px;top:323px;">$ </div><div id="a8385" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:491px;top:323px;">21,222</div><div id="a8388" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:531px;top:323px;">$ </div><div id="a8390" style="position:absolute;font-family:'Calibri';font-size:10.72px;font-weight:normal;font-style:normal;color:#000000;left:583px;top:323px;">18,864</div><div id="a8398" style="position:absolute;font-family:'Calibri';font-size:9.28px;font-weight:normal;font-style:normal;color:#000000;left:3px;top:346px;">(Some amounts may not reconcile due<div style="display:inline-block;width:3px"> </div>to rounding.)</div></div>
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
19009000000 usd
CY2020Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
16322000000 usd
CY2021Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
1946000000 usd
CY2020Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
1844000000 usd
CY2021Q4 re Reserve For Losses And Loss Adjustment Expenses Net
ReserveForLossesAndLossAdjustmentExpensesNet
17063000000 usd
CY2020Q4 re Reserve For Losses And Loss Adjustment Expenses Net
ReserveForLossesAndLossAdjustmentExpensesNet
14478000000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
6291000000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
5578000000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-2000000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-6000000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
6289000000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
5572000000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
1794000000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
1376000000 usd
CY2022Q3 re Public Equity Portfolio Fair Value Disclosure
PublicEquityPortfolioFairValueDisclosure
1200000000 usd
CY2021Q4 re Public Equity Portfolio Fair Value Disclosure
PublicEquityPortfolioFairValueDisclosure
1300000000 usd
CY2022Q3 re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
1.000 pure
re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
re Percentage Allocated To Common Shareholders
PercentageAllocatedToCommonShareholders
0.987 pure
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-384000000 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-135000000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-88000000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
752000000 usd
CY2022Q3 re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
65000000 usd
CY2021Q3 re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
61000000 usd
re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
188000000 usd
re Dividend Declared Common Shareholders
DividendDeclaredCommonShareholders
183000000 usd
CY2022Q3 re Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
-319000000 usd
CY2021Q3 re Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
-73000000 usd
re Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
100000000 usd
re Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
936000000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
38800000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
39200000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
38800000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
39400000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38800000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39500000 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.22
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.88
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.57
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
23.74
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.22
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.88
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
23.72
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38800000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39400000 shares
CY2022Q3 re Basic Weighted Average Common Shares Outstanding And Nonvested Common Shares Expected To Vest
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