The following tables provide the balances of and changes in the Company’s liability for its policyholder account balances, reflected in interest-sensitive contract liabilities, for the three months ended March 31, 2026 and 2025 (dollars in millions):


For the three months ended March 31, 2026:	U.S. and Latin America – Traditional			U.S. and Latin America – Financial Solutions			Asia Pacific – Financial Solutions
Balance, beginning of year	$	3,318		$	26,186		$	7,804
Deposits	93			630			1,453
Policy charges	(81)			(198)			(9)
Surrenders and withdrawals	(27)			(416)			(182)
Benefit payments	(101)			(167)			(77)
Interest credited	39			264			93
Foreign currency translation	—			—			21
Balance, end of period	$	3,241		$	26,299		$	9,103
Less: reinsurance recoverable	—			(2,573)			—
Balance, end of period, after reinsurance	$	3,241		$	23,726		$	9,103

Weighted average crediting rate	3.1		%	3.6		%	4.5		%
Net amount at risk (1)	$	27,485		$	131,090		$	—
Cash surrender value	$	3,234		$	25,993		$	8,634


For the three months ended March 31, 2025:	U.S. and Latin America – Traditional			U.S. and Latin America – Financial Solutions			Asia Pacific – Financial Solutions
Balance, beginning of year	$	3,273		$	16,432		$	4,285
Deposits	105			877			390
Policy charges	(84)			(20)			(5)
Surrenders and withdrawals	(25)			(418)			(73)
Benefit payments	(18)			(123)			(75)
Interest credited	45			144			45
Foreign currency translation	—			—			5
Balance, end of period	$	3,296		$	16,892		$	4,572
Less: reinsurance recoverable	—			(2,746)			—
Balance, end of period, after reinsurance	$	3,296		$	14,146		$	4,572

Weighted average crediting rate	3.1		%	3.6		%	4.0		%
Net amount at risk (1)	$	25,951		$	6,422		$	—
Cash surrender value	$	3,280		$	16,680		$	4,179

(1) Net amount at risk is defined as the guaranteed amount less the account value as of the balance sheet date. The balance represents the amount of the claim the Company would incur if death claims were filed on all contracts on the balance sheet date.


	March 31,
	2026		2025
Policyholder account balances included in the rollforwards:
Traditional:
U.S. and Latin America	$	3,241	$	3,296
Financial Solutions:
U.S. and Latin America	26,299		16,892
Asia Pacific	9,103		4,572
Other policyholder account balances
U.S. and Latin America – Financial Solutions	36		48
Total policyholder account balances	$	38,679	$	24,808

The balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates credited to policyholders and the respective guaranteed minimums as of March 31, 2026 and 2025 is as follows (dollars in millions):


	March 31, 2026
	Range of Guaranteed Minimum Crediting Rate	At Guaranteed Minimum		1 Basis Point – 50 Basis Points Above		51 Basis Points – 100 Basis Points Above		101 Basis Points – 150 Basis Points Above		Greater Than 150 Basis Points Above		Total

U.S. and Latin America – Traditional	Less than 1.00%	$	788	$	—	$	—	$	—	$	—	$	788
	1.00 – 1.99%	60		1		8		—		—		69
	2.00 – 2.99%	111		—		—		1		—		112
	3.00 – 3.99%	501		7		112		—		—		620
	4.00% and Greater	692		—		45		915		—		1,652
	Total	$	2,152	$	8	$	165	$	916	$	—	$	3,241

U.S. and Latin America – Financial Solutions	Less than 1.00%	$	110	$	—	$	—	$	—	$	814	$	924
	1.00 – 1.99%	964		18		209		154		137		1,482
	2.00 – 2.99%	2,836		601		389		728		445		4,999
	3.00 – 3.99%	3,965		589		120		3		3		4,680
	4.00% and Greater	14,188		26		—		—		—		14,214
	Total	$	22,063	$	1,234	$	718	$	885	$	1,399	$	26,299

Asia Pacific – Financial Solutions	Less than 1.00%	$	272	$	—	$	—	$	—	$	—	$	272
	1.00 – 1.99%	420		—		—		—		—		420
	2.00 – 2.99%	716		—		—		—		—		716
	3.00 – 3.99%	999		—		—		—		—		999
	4.00% and Greater	6,696		—		—		—		—		6,696
	Total	$	9,103	$	—	$	—	$	—	$	—	$	9,103


	March 31, 2025
	Range of Guaranteed Minimum Crediting Rate	At Guaranteed Minimum		1 Basis Point – 50 Basis Points Above		51 Basis Points – 100 Basis Points Above		101 Basis Points – 150 Basis Points Above		Greater Than 150 Basis Points Above		Total

U.S. and Latin America – Traditional	Less than 1.00%	$	710	$	—	$	—	$	—	$	—	$	710
	1.00 – 1.99%	56		2		8		—		—		66
	2.00 – 2.99%	108		—		—		1		—		109
	3.00 – 3.99%	491		7		115		—		—		613
	4.00% and Greater	721		50		973		54		—		1,798
	Total	$	2,086	$	59	$	1,096	$	55	$	—	$	3,296

U.S. and Latin America – Financial Solutions	Less than 1.00%	$	—	$	—	$	—	$	—	$	—	$	—
	1.00 – 1.99%	1,203		12		8		30		26		1,279
	2.00 – 2.99%	1,180		9		23		540		140		1,892
	3.00 – 3.99%	3,423		212		164		—		—		3,799
	4.00% and Greater	9,892		30		—		—		—		9,922
	Total	$	15,698	$	263	$	195	$	570	$	166	$	16,892

Asia Pacific – Financial Solutions	Less than 1.00%	$	262	$	—	$	—	$	—	$	—	$	262
	1.00 – 1.99%	442		—		—		—		—		442
	2.00 – 2.99%	479		—		—		—		—		479
	3.00 – 3.99%	984		—		—		—		—		984
	4.00% and Greater	2,405		—		—		—		—		2,405
	Total	$	4,572	$	—	$	—	$	—	$	—	$	4,572