v3.26.1
NET INVESTMENT INCOME AND INVESTMENT RELATED GAINS (LOSSES)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
NET INVESTMENT INCOME AND INVESTMENT RELATED GAINS (LOSSES) NET INVESTMENT INCOME AND INVESTMENT RELATED GAINS (LOSSES)
Net investment income is shown below:
FOR THE PERIODS ENDED JUN. 30
US$ MILLIONS		Three Months EndedSix Months Ended
2026202520262025
Available-for-sale fixed maturity securities$1,271 $695 $2,137 $1,443 
Equity securities51 18 103 36 
Mortgage loans208 204 391 422 
Private loans180 124 345 240 
Investment real estate26 23 38 24 
Real estate partnerships100 3 111 42 
Investment funds179 214 300 343 
Policy loans5 6 11 12 
Short-term investments, cash and cash equivalents90 91 189 187 
Other invested assets237 192 294 320 
Investment expenses(206)(100)(322)(186)
Total net investment income$2,141 $1,470 $3,597 $2,883 
Net unrealized and realized investment gains (losses) are shown below:
FOR THE PERIODS ENDED JUN. 30
US$ MILLIONS		Three Months EndedSix Months Ended
2026202520262025
Available-for-sale fixed maturity securities$55 $72 $78 $93 
Equity securities121 470 (634)288 
Mortgage loans(39)(13)(30)(5)
Private loans(12)21 (20)32 
Investment real estate(3)7 39 (1)
Real estate partnerships(1)— (1)5 
Investment funds(3)(6)(3)(6)
Short-term and other investments(1)
(59)(223)(66)(181)
Total investment related gains (losses)$59 $328 $(637)$225 
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(1)Includes derivative gains (losses). See Note 9 for details.