| Schedule I |
Summary of Investments – Other than Investments in Related Parties | | | | | | | | | | | | | | | | | | | | | | | Schedule I | | December 31, 2022 | | | | | Amount at
which shown in
the Balance Sheet | | (in millions) | Cost(a)(b) | | Fair Value(b) | | | Fixed maturities: | | | | | | | U.S. government and government sponsored entities | $ | 1,405 | | $ | 1,198 | | $ | 1,198 | | Obligations of states, municipalities and political subdivisions | 6,845 | | 5,963 | | 5,963 | | Non-U.S. governments | 5,273 | | 4,414 | | 4,414 | | Public utilities | 20,187 | | 16,611 | | 16,611 | | All other corporate debt securities | 106,103 | | 90,303 | | 90,303 | | Mortgage-backed, asset-backed and collateralized | 45,230 | | 42,073 | | 42,073 | | Total fixed maturity securities | 185,043 | | 160,562 | | 160,562 | | Equity securities and mutual funds: | | | | | | | Common stock: | | | | | | | Public utilities | — | | | — | | — | | Banks, trust and insurance companies | 2 | | 2 | | 2 | | Industrial, miscellaneous and all other | 64 | | 64 | | 64 | | Total common stock | 66 | | 66 | | 66 | | Preferred stock | 27 | | 27 | | 27 | | Mutual funds | 77 | | 77 | | 77 | | Total equity securities and mutual funds | 170 | | 170 | | 170 | | Mortgage and other loans receivable, net of allowance | | | | | | | Commercial mortgages | 32,993 | | 29,998 | | 32,993 | | Residential mortgages | 5,856 | | 4,950 | | 5,856 | | Life insurance policy loans | 1,750 | | 1,752 | | 1,750 | | Commercial loans, other loans and notes receivable | 4,567 | | 4,430 | | 4,567 | | Total mortgage and other loans receivable | 45,166 | | 41,130 | | 45,166 | | Allowance for credit losses | (600) | | — | | (600) | | Total mortgage and other loans receivable, net of allowance | 44,566 | | 41,130 | | 44,566 | Other invested assets(c) | 11,034 | | 10,418 | | 10,418 | | Short-term investments, at cost (approximates fair value) | 4,400 | | 4,400 | | 4,400 | Derivative assets(d) (e) | 299 | | 299 | | 299 | | Total investments | $ | 245,512 | | $ | 216,979 | | $ | 220,415 |
(a)Original cost of fixed maturities is reduced by repayments and adjusted for amortization of premiums or accretion of discounts. (b)The table above includes available for sale securities issued by related parties. This includes RMBS securities which had a fair value of $39 million and an amortized cost of $43 million. (c)Includes $6 million of investments in related parties. (d)Includes $265 million of derivative assets with related parties. (e)Excludes $97 million of derivative liabilities.
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