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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Results

The tables below provide each segment’s results in the format that the CODM reviews its reporting segments to make decisions and assess performance.

			Three Months Ended September 30, 2025
			Annuities						P&C						Life Insurance						Total
			(Dollars in millions)
Net premiums and other policy related revenues			$	308					$	364					$	96
Net investment income, including reinsurance funds withheld			1,285						41						49
Segment revenues (1)(2)			1,593						405						145						$	2,143
Policyholder benefits, net			221						255						69
Interest sensitive contract benefits, excluding index credits			529						—						10
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired			247						83						15
Other insurance and reinsurance expenses (3)			100						—						—
Operating expenses, excluding transactions costs			107						29						14
Segment DOE			$	389					$	38					$	37					$	464
Corporate and other DOE																					(110)
Depreciation and amortization expenses																					(35)
Deferred income tax recovery relating to basis and other changes																					(25)
Transaction costs																					10
Unrealized net investment gains (losses), including reinsurance funds withheld																					(117)
Mark-to-market gains (losses) within insurance contracts and other net assets																					21
Net income (loss)																					$	208

			Three Months Ended September 30, 2024
			Annuities						P&C						Life Insurance						Total
			(Dollars in millions)
Net premiums and other policy related revenues			$	471					$	473					$	164
Net investment income, including reinsurance funds withheld			1,034						43						80
Segment revenues (1)(2)			1,505						516						244						$	2,265
Policyholder benefits, net			443						329						117
Interest sensitive contract benefits, excluding index credits			402						—						8
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired			175						99						15
Other insurance and reinsurance expenses (3)			44						—						—
Operating expenses, excluding transactions costs			99						65						62
Segment DOE			$	342					$	23					$	42					$	407
Corporate and other DOE																					(47)
Depreciation and amortization expenses																					(25)
Deferred income tax recovery relating to basis and other changes																					105
Transaction costs																					(32)
Unrealized net investment gains (losses), including reinsurance funds withheld																					128
Mark-to-market gains (losses) within insurance contracts and other net assets																					(835)
Net income (loss)																					$	(299)
			Nine Months Ended September 30, 2025
			Annuities						P&C						Life Insurance						Total
			(Dollars in millions)
Net premiums and other policy related revenues			$	1,281					$	1,204					$	300
Net investment income, including reinsurance funds withheld			3,761						123						156
Segment revenues (1)(2)			5,042						1,327						456						$	6,825
Policyholder benefits, net			1,031						861						232
Interest sensitive contract benefits, excluding index credits			1,489						—						23
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired			692						272						31
Other insurance and reinsurance expenses (3)			313						—						—
Operating expenses, excluding transactions costs			349						96						61
Segment DOE			$	1,168					$	98					$	109					$	1,375
Corporate and other DOE																					(318)
Depreciation and amortization expenses																					(125)
Deferred income tax recovery (expense) relating to basis and other changes																					147
Transaction costs																					(27)
Mark-to-market gains (losses) on investments, including reinsurance funds withheld																					(342)
Mark-to-market gains (losses) on insurance contracts and other net assets																					(597)
Net income (loss)																					$	113

			Nine Months Ended September 30, 2024
			Annuities						P&C						Life Insurance						Total
			(Dollars in millions)
Net premiums and other policy related revenues			$	1,586					$	1,411					$	556
Net investment income, including reinsurance funds withheld			2,056						131						304
Segment revenues (1)(2)			3,642						1,542						860						$	6,044
Policyholder benefits, net			1,521						1,040						425
Interest sensitive contract benefits, excluding index credits			807						—						34
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired			294						314						41
Other insurance and reinsurance expenses (3)			71						—						—
Operating expenses, excluding transactions costs			186						141						186
Income tax expense (recovery), net			72						(4)						12
Segment DOE			$	691					$	51					$	162					$	904
Corporate and other DOE																					(92)
Depreciation and amortization expenses																					(49)
Deferred income tax recovery (expense) relating to basis and other changes																					432
Transaction costs																					(163)
Mark-to-market gains (losses) on investments, including reinsurance funds withheld																					487
Mark-to-market gains (losses) on insurance contracts and other net assets																					(1,461)
Net income (loss)																					$	58

(1)For the three and nine months ended September 30, 2025 and 2024, there were no material intersegment revenues.

(2)Our consolidated revenues in the Condensed Consolidated Statements of Operations principally represent the sum of “Segment revenues” and “Mark-to-market gains (losses) on investments, including reinsurance funds withheld” in the tables above.

(3)“Other insurance and reinsurance expenses” primarily represent “Change in fair value of market risk benefits” excluding the effect of changes in market risks (e.g., interest rates, equity markets and equity index volatility). See Note 19 - Market Risk Benefits for the details of market risk benefits.

In addition to DOE, the CODM also monitors the assets, including investments accounted for using the equity method, liabilities and equity attributable to each segment.

			Annuities						P&C						Life Insurance						Total (1)
			(Dollars in millions)
As of September 30, 2025
Assets			$	115,143					$	4,339					$	9,670					$	129,152
Liabilities			105,507						2,252						7,469						115,228
Equity			9,636						2,087						2,201						13,924
As of December 31, 2024
Assets			$	107,208					$	4,742					$	9,232					$	121,182
Liabilities			98,851						2,544						6,396						107,791
Equity			8,357						2,198						2,836						13,391

(1)Table excludes amounts related to Corporate and other which is not a reportable segment for ANGI.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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