v3.26.1
SALE OF COMMERCIAL RETAIL BUSINESS AND RENEWAL RIGHTS (Tables)
 3 Months Ended
Mar. 31, 2026
Other Income and Expenses [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations
The following table presents the carrying amounts of assets and liabilities held-for-sale related to the pending sale of Everest Canada described above:
(Dollars in millions)March 31, 2026
Assets held-for-sale (1)
Fixed maturities - available for sale, at fair value$132 
Short-term investments15 
Cash38 
Total investments and cash185 
Accrued investment income1 
Income tax asset, net6 
Other assets19 
Total assets held-for-sale$212 
Liabilities held-for-sale (2)
Other liabilities1 
Total liabilities held-for-sale$1 
(1) Assets held-for-sale are included in other assets on the consolidated balance sheets and are defined as assets associated with pending business dispositions. The Company classifies a business as held-for-sale when the Company has entered into an agreement to sell the business and certain other specified criteria are met. The business classified as held-for-sale is recorded at the lower of carrying value or estimated fair value, less costs to sell. If the carrying value of the business exceeds its estimated fair value, less costs to sell, a loss is recognized when the criteria for the held-for-sale classification as described above are met. If the estimated fair value, less costs to sell, exceeds the carrying value of the business, the gain is recorded when the sale is completed.
(2) Liabilities held-for-sale are included in other liabilities on the consolidated balance sheets and are defined as liabilities associated with pending business dispositions. See description of assets held-for-sale above for further definition of the held-for-sale classification. The Company has implemented a prospective presentation and disclosure of assets and liabilities held-for-sale.