EVEREST GROUP LTD
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
EG$422.32+2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for the Years Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31, | |||
|---|---|---|---|
| (In millions of U.S. dollars) | 2024 | 2023 | 2022 |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $1,373 | $2,517 | $597 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Decrease (increase) in premiums receivable | (715) | (1,064) | (435) |
| Decrease (increase) in funds held by reinsureds, net | (81) | (66) | (197) |
| Decrease (increase) in reinsurance recoverables | (1,091) | 143 | (413) |
| Decrease (increase) in income taxes | (277) | (559) | (181) |
| Decrease (increase) in prepaid reinsurance premiums | (232) | (46) | (166) |
| Increase (decrease) in reserve for losses and loss adjustment expenses | 5,612 | 2,256 | 3,477 |
| Increase (decrease) in unearned premiums | 809 | 1,387 | 655 |
| Increase (decrease) in amounts due to reinsurers | 135 | 18 | 201 |
| Increase (decrease) in losses in course of payment | 75 | 93 | (186) |
| Change in equity adjustments in limited partnerships | (261) | (168) | (94) |
| Distribution of limited partnership income | 163 | 120 | 180 |
| Change in other assets and liabilities, net | (431) | (339) | (297) |
| Non-cash compensation expense | 63 | 49 | 45 |
| Amortization of bond premium (accrual of bond discount) | (167) | (64) | 55 |
| Net (gains) losses on investments | (19) | 276 | 455 |
| Net cash provided by (used in) operating activities | 4,957 | 4,553 | 3,695 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Proceeds from fixed maturities matured/called/repaid - available for sale | 3,783 | 2,310 | 2,626 |
| Proceeds from fixed maturities sold - available for sale | 6,257 | 3,849 | 1,403 |
| Proceeds from fixed maturities matured/called/repaid - held to maturity | 157 | 105 | 39 |
| Proceeds from equity securities sold | 37 | 126 | 2,217 |
| Distributions from other invested assets | 409 | 245 | 266 |
| Cost of fixed maturities acquired - available for sale | (11,563) | (10,653) | (7,344) |
| Cost of fixed maturities acquired - held to maturity | (49) | (112) | (153) |
| Cost of equity securities acquired | (50) | (17) | (1,003) |
| Cost of other invested assets acquired | (936) | (902) | (1,547) |
| Net change in short-term investments | (2,494) | (1,034) | 149 |
| Net change in unsettled securities transactions | (27) | 181 | (71) |
| Net cash provided by (used in) investing activities | (4,478) | (5,902) | (3,418) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Common shares issued (redeemed) during the period for share-based compensation, net of expense | (24) | (23) | (17) |
| Proceeds from public offering of common shares | — | 1,445 | — |
| Purchase of treasury shares | (200) | — | (61) |
| Dividends paid to shareholders | (334) | (288) | (255) |
| Proceeds from issuance of senior notes | — | — | — |
| Cost of debt repurchase | — | — | (6) |
| Net FHLB borrowings (repayments) | 200 | 300 | — |
| Cost of shares withheld on settlements of share-based compensation awards | (25) | (24) | (20) |
| Net cash provided by (used in) financing activities | (383) | 1,409 | (359) |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH | 16 | (23) | 39 |
| Net increase (decrease) in cash | 112 | 38 | (42) |
| Cash, beginning of period | 1,437 | 1,398 | 1,441 |
| Cash, end of period | $1,549 | $1,437 | $1,398 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Income taxes paid (recovered) | $397 | $196 | $171 |
| Interest paid | 147 | 130 | 98 |
| NON-CASH TRANSACTIONS: | |||
| Reclassification of specific investments from fixed maturity securities, available for sale at fair value | |||
| to fixed maturity securities, held to maturity at amortized cost net of credit allowances | $— | $— | $722 |
| Non-cash limited partnership distribution | 23 | — | — |
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