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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Investments:    
Available-for-sale fixed maturity securities, at fair value (net of allowance for credit losses of $0 and $3, respectively; amortized cost of $61,429 and $56,854, respectively) $ 61,598 $ 57,992
Equity securities, at fair value 595 1,179
Investment real estate and real estate partnerships (net of accumulated depreciation of $218 and $228, respectively) 6,225 5,800
Investment funds 3,605 3,187
Policy loans 238 234
Short-term investments, at estimated fair value 484 600
Other invested assets 2,203 1,485
Total investments 95,451 90,516
Cash and cash equivalents 8,416 11,660
Accrued investment income 834 799
Deferred policy acquisition costs, deferred sales inducements and value of business acquired 11,665 11,513
Deferred tax asset 435 460
Reinsurance recoverables and deposit assets 8,831 9,255
Property and equipment (net of accumulated depreciation of $129 and $352, respectively) 70 161
Intangible assets (net of accumulated amortization of $324 and $154, respectively) 1,480 1,501
Goodwill 748 748
Other assets 2,910 2,822
Separate account assets 874 822
Total assets 131,714 130,257
Liabilities    
Future policy benefits 10,879 10,962
Policyholders’ account balances 96,064 92,992
Policy and contract claims 298 410
Market risk benefits 4,751 4,536
Other policyholder funds 355 353
Notes payable 206 205
Long term borrowings 2,957 2,951
Funds withheld for reinsurance liabilities 2,887 3,088
Separate account liabilities 874 822
Total liabilities 123,045 120,588
Commitments and Contingencies (Note 25)
Equity    
Additional paid-in capital 5,865 6,404
Accumulated other comprehensive income, net of taxes 433 1,094
Retained earnings 1,955 1,759
Non-controlling interests 124 120
Total equity 8,669 9,669
Total liabilities and equity 131,714 130,257
Series D Preferred Stock    
Equity    
Preferred stock 292 292
Related Party    
Investments:    
Total investments 9,600 9,600
Liabilities    
Due to related parties 105 103
Nonrelated Party    
Liabilities    
Other liabilities 3,669 4,166
Mortgage loans on real estate, net of allowance    
Investments:    
Mortgage loans on real estate and Private loans, at amortized cost 11,554 11,113
Private loans, net of allowance    
Investments:    
Mortgage loans on real estate and Private loans, at amortized cost $ 8,949 $ 8,926