Schedule I

12 Months Ended

Dec. 31, 2025

SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]

Schedule I

Summary of Investments – Other than Investments in Related Parties


															Schedule I
December 31, 2025															Amount at which shown in the Balance Sheet
(in millions)			Cost(a)						Fair Value
Fixed maturities:
U.S. government and government sponsored entities			$	1,847					$	1,529					$	1,529
Obligations of states, municipalities and political subdivisions			5,180						4,520						4,520
Non-U.S. governments			5,096						4,562						4,562
Public utilities			23,547						20,922						20,922
All other corporate debt securities			113,811						104,063						104,063
Mortgage-backed, asset-backed and collateralized			59,774						59,192						59,192
Total fixed maturity securities			209,255						194,788						194,788
Equity securities and mutual funds:
Common stock:
Public utilities			19						19						19

Industrial, miscellaneous and all other			6						6						6
Total common stock			25						25						25
Preferred stock			54						54						54

Total equity securities and mutual funds			79						79						79
Mortgage and other loans receivable, net of allowance
Commercial mortgages			37,009						35,112						37,009
Residential mortgages			13,839						13,361						13,839
Life insurance policy loans			1,694						1,694						1,694
Commercial loans, other loans and notes receivable			2,666						2,564						2,666
Total mortgage and other loans receivable			55,208						52,731						55,208
Allowance for credit losses			(727)						—						(727)
Total mortgage and other loans receivable, net of allowance			54,481						52,731						54,481
Other invested assets			10,641						10,235						10,235
Short-term investments, at cost (approximates fair value)			5,675						5,675						5,675
Derivative assets(b)			441						441						441
Total investments			$	280,572					$	263,949					$	265,699

(a)Original cost of fixed maturities is reduced by repayments and adjusted for amortization of premiums or accretion of discounts.

(b)Excludes $299 million of derivative liabilities.