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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Investments:    
Available-for-sale fixed maturity securities, at fair value (net of allowance for credit losses of $2 and $27, respectively; amortized cost of $48,260 and $47,127, respectively) $ 48,931 $ 47,292
Equity securities, at fair value 1,238 1,142
Real estate and real estate partnerships (net of accumulated depreciation of $250 and $228, respectively) 5,944 4,992
Investment funds 3,038 3,015
Policy loans 257 274
Short-term investments, at estimated fair value 4,067 4,177
Other invested assets 1,999 2,014
Total investments 84,848 80,755
Cash and cash equivalents 12,104 11,330
Accrued investment income 735 761
Deferred policy acquisition costs, deferred sales inducements and value of business acquired 11,051 10,631
Premiums due and other receivables 463 437
Ceded unearned premiums 173 132
Deferred tax asset 471 529
Reinsurance recoverables and deposit assets 9,835 10,055
Property and equipment (net of accumulated depreciation of $364 and $352, respectively) 167 175
Intangible assets (net of accumulated amortization of $106 and $56, respectively) 1,557 1,545
Goodwill 783 783
Other assets 2,836 2,745
Separate account assets 1,322 1,343
Total assets 126,345 121,221
Liabilities    
Future policy benefits 10,029 9,170
Policyholders’ account balances 86,934 83,079
Policy and contract claims 1,910 1,867
Market risk benefits 4,227 3,655
Unearned premium reserve 869 1,044
Other policyholder funds 397 347
Notes payable 200 189
Long term borrowings 2,953 2,957
Funds withheld for reinsurance liabilities 3,171 3,321
Separate account liabilities 1,322 1,343
Total liabilities 116,128 111,193
Equity    
Additional paid-in capital 7,547 7,569
Accumulated other comprehensive income, net of taxes 664 340
Retained earnings 1,283 1,356
Non-controlling interests 135 78
Total equity 10,217 10,028
Total liabilities and equity 126,345 121,221
Series A Preferred Stock    
Equity    
Preferred stock 0 389
Series B Preferred Stock    
Equity    
Preferred stock 296 296
Series D Preferred Stock    
Equity    
Preferred stock 292 0
Related Party    
Investments:    
Total investments 10,700 9,600
Liabilities    
Due to related parties 72 80
Nonrelated Party    
Liabilities    
Other liabilities 4,044 4,141
Mortgage loans on real estate, net of allowance    
Investments:    
Mortgage loans on real estate and Private loans, at amortized cost 11,254 12,117
Private loans, net of allowance    
Investments:    
Mortgage loans on real estate and Private loans, at amortized cost $ 8,120 $ 5,732