The related party balances with Prismic and its subsidiaries impacted the Company’s balance sheet as of the periods indicated as follows:
| | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | | | (in millions) | | Reinsurance recoverables and deposit receivables | $ | 15,391 | | | $ | 15,581 | | Other assets | $ | 161 | | | $ | 162 | | Reinsurance and funds withheld payables (includes $105 and $194 of embedded derivatives at fair value at March 31, 2026 and December 31, 2025, respectively) | $ | 7,851 | | | $ | 7,980 | | Accumulated other comprehensive income (loss) | $ | (251) | | | $ | (128) | |
The related party activity with Prismic and its subsidiaries impacted the Company’s results of operations and cash flows for the periods indicated as follows:
| | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | | | 2026 | | 2025 | | | | | | | (in millions) | Premiums | | | | | $ | (2) | | | $ | (3) | | Asset management and service fees | | | | | 17 | | | 13 | | Other income (loss) | | | | | 96 | | | 61 | | Realized investment gains(losses), net | | | | | 14 | | | (237) | | Policyholders’ benefits | | | | | (70) | | | (71) | | Change in estimates of liability for future policy benefits | | | | | (3) | | | (3) | | Amortization of deferred policy acquisition costs | | | | | (3) | | | (1) | | General and administrative expenses | | | | | 7 | | | 3 | | Income (loss) from related parties, before income taxes | | | | | 194 | | | (94) | | | Other comprehensive income (loss), before tax | | | | | (124) | | | (9) | | | Total comprehensive income (loss), before tax | | | | | $ | 70 | | | $ | (103) | |
| | | | | | | | | | | | | Three Months Ended March 31, | | 2026 | | 2025 | | | (in millions) | CASH FLOWS FROM OPERATING ACTIVITIES | | | | Adjustments to reconcile net income (loss) to net cash provided by operating activities: | | | | Realized investment (gains) losses, net | $ | (14) | | | $ | 237 | | Change in: | | | | Deferred policy acquisition costs | $ | (3) | | | $ | (1) | | Reinsurance related-balances | $ | (181) | | | $ | (192) | | | Other, net | $ | (5) | | | $ | (3) | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | Other, net | $ | 178 | | | $ | 91 | |
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