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CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investments:    
Available-for-sale fixed maturity securities, at fair value (net of allowance for credit losses of $27 and $24, respectively; amortized cost of $47,127 and $13,281, respectively) $ 47,292 $ 12,877
Equity securities, at fair value 1,142 1,404
Real estate, at cost and real estate partnerships (net of accumulated depreciation of $228 and $320, respectively) 4,992 3,611
Investment funds 3,015 1,592
Policy loans 274 390
Short-term investments, at estimated fair value 4,177 2,397
Other invested assets 2,014 120
Total investments 80,755 28,243
Cash and cash equivalents 11,330 3,192
Accrued investment income 761 196
Deferred policy acquisition costs, deferred sales inducements and value of business acquired 10,631 944
Premiums due and other receivables 437 484
Ceded unearned premiums 132 45
Deferred tax asset 529 291
Reinsurance recoverables and deposit assets 10,055 427
Property and equipment (net of accumulated depreciation of $352 and $333, respectively) 175 168
Intangible assets (net of accumulated amortization of $56 and $2, respectively) 1,545 44
Goodwill 783 121
Other assets 2,745 541
Separate account assets 1,343 1,189
Total assets 121,221 35,885
Liabilities    
Future policy benefits 9,170 6,108
Policyholders’ account balances 83,079 17,177
Policy and contract claims 1,867 1,870
Market risk benefits 3,655 34
Unearned premium reserve 1,044 1,139
Other policyholder funds 347 335
Notes payable 189 174
Long term borrowings 2,957 1,493
Funds withheld for reinsurance liabilities 3,321 0
Separate account liabilities 1,343 1,189
Total liabilities 111,193 29,986
Equity    
Additional paid-in capital 7,569 5,185
Accumulated other comprehensive income (loss), net of taxes 340 (109)
Retained earnings 1,356 716
Non-controlling interests 78 107
Total equity 10,028 5,899
Total liabilities and equity 121,221 35,885
Mortgage loans on real estate, net of allowance    
Investments:    
Mortgage loans on real estate and Private loans, at amortized cost 12,117 5,658
Private loans    
Investments:    
Mortgage loans on real estate and Private loans, at amortized cost 5,732 194
Related Party    
Liabilities    
Due to related parties 80 0
Nonrelated Party    
Liabilities    
Other liabilities 4,141 467
Series A Preferred Stock    
Equity    
Preferred stock 389 0
Series B Preferred Stock    
Equity    
Preferred stock $ 296 $ 0