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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Investments:    
Available-for-sale fixed maturity securities, at fair value (net of allowance for credit losses of $3 and $27, respectively; amortized cost of $54,104 and $47,127, respectively) $ 55,408 $ 47,292
Equity securities, at fair value 1,212 1,142
Real estate and real estate partnerships (net of accumulated depreciation of $252 and $228, respectively) 6,061 4,992
Investment funds 3,809 3,015
Policy loans 253 274
Short-term investments, at estimated fair value 1,435 4,177
Other invested assets 2,073 2,014
Total investments 89,728 80,755
Cash and cash equivalents 11,568 11,330
Accrued investment income 786 761
Deferred policy acquisition costs, deferred sales inducements and value of business acquired 11,384 10,631
Premiums due and other receivables 499 437
Ceded unearned premiums 143 132
Deferred tax asset 303 529
Reinsurance recoverables and deposit assets 9,531 10,055
Property and equipment (net of accumulated depreciation of $347 and $352, respectively) 170 175
Intangible assets (net of accumulated amortization of $127 and $56, respectively) 1,541 1,545
Goodwill 783 783
Other assets 2,928 2,745
Separate account assets 1,195 1,343
Total assets 130,559 121,221
Liabilities    
Future policy benefits 10,345 9,170
Policyholders’ account balances 89,469 83,079
Policy and contract claims 1,811 1,867
Market risk benefits 4,505 3,655
Unearned premium reserve 733 1,044
Other policyholder funds 353 347
Notes payable 204 189
Long term borrowings 3,449 2,957
Funds withheld for reinsurance liabilities 3,131 3,321
Separate account liabilities 1,195 1,343
Total liabilities 119,578 111,193
Equity    
Additional paid-in capital 7,558 7,569
Accumulated other comprehensive income, net of taxes 1,132 340
Retained earnings 1,480 1,356
Non-controlling interests 223 78
Total equity 10,981 10,028
Total liabilities and equity 130,559 121,221
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 11,300 9,600
Liabilities    
Due to related parties 115 80
Nonrelated Party    
Liabilities    
Other liabilities 4,268 4,141
Mortgage loans on real estate, net of allowance    
Investments:    
Mortgage loans on real estate and Private loans, at amortized cost 11,090 12,117
Private loans, net of allowance    
Investments:    
Mortgage loans on real estate and Private loans, at amortized cost $ 8,387 $ 5,732