| Net gains (losses) from investment activities |
Note 4. Net gains (losses) from investment activities The table below summarizes the net gains (losses) from investment activities:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the years ended December 31, | | 2025 | | 2024 | | | Net realized gains (losses) | | Net unrealized gains (losses) | | Credit releases (losses) | | Total | | Net realized gains (losses) | | Net unrealized gains (losses) | | Credit releases (losses) | | Total | | Asset Management | | | | | | | | | | | | | | | | | | Equity securities | | $ | 418 | | | $ | 262 | | | $ | — | | | $ | 680 | | | $ | 338 | | | $ | (1,573) | | | $ | — | | | $ | (1,235) | | | Derivatives | | — | | | 2 | | | — | | | 2 | | | — | | | — | | | — | | | — | | | Debt obligation | | — | | | 1,339 | | | — | | | 1,339 | | | — | | | (296) | | | — | | | (296) | | | Net gains (losses) from investment activities — Asset Management | | $ | 418 | | | $ | 1,603 | | | $ | — | | | $ | 2,021 | | | $ | 338 | | | $ | (1,869) | | | $ | — | | | $ | (1,531) | | | | | | | | | | | | | | | | | | | | Insurance Solutions | | | | | | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | | | | | | U.S. state, territories and municipalities | | $ | (4) | | | $ | 51 | | | $ | — | | | $ | 47 | | | $ | (5) | | | $ | (10) | | | $ | — | | | $ | (15) | | | Other government and agency | | — | | | 115 | | | — | | | 115 | | | — | | | (18) | | | — | | | (18) | | | Corporate | | (1,773) | | | 5,023 | | | — | | | 3,250 | | | (165) | | | (3,710) | | | — | | | (3,875) | | | Asset and mortgage- backed securities | | (641) | | | 117 | | | — | | | (524) | | | (158) | | | 4,041 | | | — | | | 3,883 | | | Corporate loans | | (4) | | | 1,853 | | | — | | | 1,849 | | | 110 | | | (594) | | | — | | | (484) | | | Mortgage loans | | — | | | — | | | (4,057) | | | (4,057) | | | — | | | — | | | (4,693) | | | (4,693) | | | Equity securities | | (246) | | | 2,330 | | | — | | | 2,084 | | | (3) | | | 785 | | | — | | | 782 | | | Other invested assets | | (755) | | | 4,075 | | | 133 | | | 3,453 | | | 2 | | | (4,255) | | | 462 | | | (3,791) | | | Net gains (losses) from investment activities — Insurance Solutions | | $ | (3,423) | | | $ | 13,564 | | | $ | (3,924) | | | $ | 6,217 | | | $ | (219) | | | $ | (3,761) | | | $ | (4,231) | | | $ | (8,211) | | | Investments of consolidated VIEs | | (386) | | | (2,015) | | | — | | | (2,401) | | | 107 | | | (3,177) | | | — | | | (3,070) | | | Net gains (losses) from investment activities — Insurance Solutions including consolidated VIEs | | $ | (3,809) | | | $ | 11,549 | | | $ | (3,924) | | | $ | 3,816 | | | $ | (112) | | | $ | (6,938) | | | $ | (4,231) | | | $ | (11,281) | |
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