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INVESTMENT REAL ESTATE AND REAL ESTATE PARTNERSHIPS (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Carrying Amount of Investment Real Estate, Net

The carrying amounts of investment real estate, net of accumulated depreciation, and real estate partnerships by property-type are as follows:


AS OF JUN. 30, 2025 US$ MILLIONS, EXCEPT FOR PERCENTAGES	Investment real estate(1)				Real estate partnerships
	Amount		Percentage		Amount		Percentage
Hotel	$	135	5	%	$	97	2	%
Industrial	58		2	%	77		2	%
Land	492		19	%	37		1	%
Office	305		12	%	1,924		45	%
Retail	211		8	%	1,497		36	%
Apartments	46		2	%	411		10	%

Single family residential	1,330		51	%	—		—	%
Other	16		1	%	162		4	%
Total	$	2,593	100	%	$	4,205	100	%


AS OF DEC. 31, 2024 US$ MILLIONS, EXCEPT FOR PERCENTAGES	Investment real estate(1)				Real estate partnerships
	Amount		Percentage		Amount		Percentage
Hotel	$	135	6	%	$	108	3	%
Industrial	14		1	%	83		2	%
Land	288		11	%	35		1	%
Office	338		14	%	2,090		61	%
Retail	186		8	%	705		21	%
Apartments	47		2	%	267		8	%

Single family residential	1,343		57	%	—		—	%
Other	15		1	%	150		4	%
Total	$	2,366	100	%	$	3,438	100	%

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(1)Investment real estate for single family residential property is fair valued as a result of consolidation of investment company VIE in accordance with ASC 946.