June 30, 2025

Carrying Value of Assets

Carrying Value of Liabilities

In millions

Maximum

Exposure

to Loss

Investments

Premiums

Receivable

Insurance Loss

Recoverable

Unearned

Premium

Revenue

Loss and Loss

Adjustment

Expense

Reserves

Insurance:

Global structured finance:

Mortgage-backed residential

$

756

$

29

$

4

$

21

$

3

$

229

Consumer asset-backed

71

-

-

-

-

2

Corporate asset-backed

229

-

2

-

2

-

Total global structured finance

1,056

29

6

21

5

231

Global public finance

199

-

3

-

2

-

Total insurance

$

1,255

$

29

$

9

$

21

$

7

$

231

December 31, 2024

Carrying Value of Assets

Carrying Value of Liabilities

In millions

Maximum

Exposure

to Loss

Investments

Premiums

Receivable

Insurance Loss

Recoverable

Unearned

Premium

Revenue

Loss and Loss

Adjustment

Expense

Reserves

Insurance:

Global structured finance:

Mortgage-backed residential

$

785

$

26

$

5

$

21

$

3

$

224

Consumer asset-backed

86

-

-

-

-

3

Corporate asset-backed

358

-

2

-

2

-

Total global structured finance

1,229

26

7

21

5

227

Global public finance

196

-

3

-

3

-

Total insurance

$

1,425

$

26

$

10

$

21

$

8

$

227