The following tables present the balances of and changes in the Company’s liability for its policyholder account balances, reflected in interest-sensitive contract liabilities, for the six months ended June 30, 2026 and 2025 (dollars in millions):


For the six months ended June 30, 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	533			1,406			3,025
Policy charges	(168)			(398)			(17)
Surrenders and withdrawals	(55)			(946)			(375)
Benefit payments	(114)			(344)			(289)
Interest credited	86			536			198
Foreign currency translation	—			—			17
Balance, end of period	$	3,600		$	26,440		$	10,363
Less: reinsurance recoverable	—			(2,520)			—
Balance, end of period, after reinsurance	$	3,600		$	23,920		$	10,363

Weighted average crediting rate	3.2		%	3.6		%	4.6		%
Net amount at risk (1)	$	26,394		$	129,490		$	—
Cash surrender value	$	3,593		$	26,151		$	9,709


For the six months ended June 30, 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	226			1,303			756
Policy charges	(170)			(40)			(7)
Surrenders and withdrawals	(52)			(831)			(107)
Benefit payments	(72)			(249)			(129)
Interest credited	80			293			92
Foreign currency translation	—			—			36
Balance, end of period	$	3,285		$	16,908		$	4,926
Less: reinsurance recoverable	—			(2,692)			—
Balance, end of period, after reinsurance	$	3,285		$	14,216		$	4,926

Weighted average crediting rate	3.1		%	3.7		%	4.0		%
Net amount at risk (1)	$	25,691		$	6,330		$	—
Cash surrender value	$	3,268		$	16,670		$	4,512

(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.


	June 30,
	2026		2025
Policyholder account balances included in the rollforwards:
Traditional:
U.S. and Latin America	$	3,600	$	3,285
Financial Solutions:
U.S. and Latin America	26,440		16,908
Asia Pacific	10,363		4,926
Other policyholder account balances:
U.S. and Latin America – Financial Solutions	—		48
Total policyholder account balances	$	40,403	$	25,167

The following tables present 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 June 30, 2026 and 2025 (dollars in millions):


	June 30, 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%	$	807	$	—	$	—	$	—	$	—	$	807
	1.00 – 1.99%	61		1		8		—		—		70
	2.00 – 2.99%	123		58		20		1		—		202
	3.00 – 3.99%	605		7		111		—		—		723
	4.00% and Greater	826		4		45		923		—		1,798
	Total	$	2,422	$	70	$	184	$	924	$	—	$	3,600

U.S. and Latin America – Financial Solutions	Less than 1.00%	$	111	$	—	$	—	$	—	$	815	$	926
	1.00 – 1.99%	915		17		211		151		136		1,430
	2.00 – 2.99%	2,795		601		389		722		445		4,952
	3.00 – 3.99%	3,859		587		123		4		2		4,575
	4.00% and Greater	14,533		24		—		—		—		14,557
	Total	$	22,213	$	1,229	$	723	$	877	$	1,398	$	26,440

Asia Pacific – Financial Solutions	Less than 1.00%	$	213	$	—	$	—	$	—	$	—	$	213
	1.00 – 1.99%	408		—		—		—		—		408
	2.00 – 2.99%	642		—		—		—		—		642
	3.00 – 3.99%	949		—		—		—		—		949
	4.00% and Greater	8,151		—		—		—		—		8,151
	Total	$	10,363	$	—	$	—	$	—	$	—	$	10,363


	June 30, 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%	$	730	$	—	$	—	$	—	$	—	$	730
	1.00 – 1.99%	57		2		8		—		—		67
	2.00 – 2.99%	112		—		—		1		—		113
	3.00 – 3.99%	498		7		116		—		—		621
	4.00% and Greater	714		48		940		52		—		1,754
	Total	$	2,111	$	57	$	1,064	$	53	$	—	$	3,285

U.S. and Latin America – Financial Solutions	Less than 1.00%	$	—	$	—	$	—	$	—	$	—	$	—
	1.00 – 1.99%	1,116		11		8		27		24		1,186
	2.00 – 2.99%	1,127		8		31		550		111		1,827
	3.00 – 3.99%	3,293		223		151		6		2		3,675
	4.00% and Greater	10,191		29		—		—		—		10,220
	Total	$	15,727	$	271	$	190	$	583	$	137	$	16,908

Asia Pacific – Financial Solutions	Less than 1.00%	$	293	$	—	$	—	$	—	$	—	$	293
	1.00 – 1.99%	442		—		—		—		—		442
	2.00 – 2.99%	519		—		—		—		—		519
	3.00 – 3.99%	998		—		—		—		—		998
	4.00% and Greater	2,674		—		—		—		—		2,674
	Total	$	4,926	$	—	$	—	$	—	$	—	$	4,926