The related party balances with Prismic and its subsidiaries impacted the Company’s balance sheet as of the periods indicated as follows:
| | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | (in millions) | | Reinsurance recoverables and deposit receivables | $ | 15,754 | | | $ | 15,581 | | Other assets | $ | 160 | | | $ | 162 | | Reinsurance and funds withheld payables (includes $189 and $194 of embedded derivatives at fair value at June 30, 2026 and December 31, 2025, respectively) | $ | 7,876 | | | $ | 7,980 | | Accumulated other comprehensive income (loss) | $ | (196) | | | $ | (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 June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | (in millions) | Premiums | $ | 7 | | | $ | (13) | | | $ | 5 | | | $ | (16) | | Asset management and service fees | 17 | | | 15 | | | 34 | | | 28 | | Other income (loss) | 100 | | | 99 | | | 196 | | | 160 | | Realized investment gains(losses), net | (146) | | | (33) | | | (132) | | | (270) | | Policyholders’ benefits | (70) | | | (70) | | | (140) | | | (141) | | Change in estimates of liability for future policy benefits | 8 | | | (14) | | | 5 | | | (17) | | Amortization of deferred policy acquisition costs | (5) | | | (3) | | | (8) | | | (4) | | General and administrative expenses | 8 | | | 14 | | | 15 | | | 17 | | Income (loss) from related parties, before income taxes | 37 | | | 141 | | | 231 | | | 47 | | | Other comprehensive income (loss), before tax | 56 | | | (24) | | | (68) | | | (33) | | | Total comprehensive income (loss), before tax | $ | 93 | | | $ | 117 | | | $ | 163 | | | $ | 14 | |
| | | | | | | | | | | | | Six Months Ended June 30, | | 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 | $ | 132 | | | $ | 270 | | Change in: | | | | Deferred policy acquisition costs | $ | (8) | | | $ | (4) | | | Reinsurance-related balances | $ | (480) | | | $ | (404) | | | Other, net | $ | (63) | | | $ | 21 | | CASH FLOWS FROM INVESTING ACTIVITIES | | | | | Other, net | $ | 17 | | | $ | (64) | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | Other, net | $ | 20 | | | $ | 167 | |
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