v3.26.3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Sep. 30, 2025
Assets      
Available-for-sale securities $ 260,156 $ 228,544  
AFS securities allowance for credit losses 763 758 $ 783
Accrued investment income 4,626 3,395  
Reinsurance recoverable 11,308 10,282  
Other assets 12,189 11,950  
Investment funds 32,675 26,327  
Restricted cash 1,066 1,332  
Liabilities and Equity      
Interest sensitive contract liabilities 354,099 315,889 309,737
Future policy benefits 45,166 50,264 49,006
Liability 4,668 4,930 4,835
Accumulated other comprehensive loss (related party: 2026 – $(320) and 2025 – $(112)) (7,041) (2,641)  
Consolidated Entity, excluding Affiliated Entity      
Assets      
Available-for-sale securities 221,065 202,116  
AFS securities allowance for credit losses 762 757 782
Short-term Investments 125 175  
Other investments 4,395 4,148  
Trading securities, at fair value 5,722 6,409  
Mortgage loans, net of allowances 99,675 91,918  
Investment funds 350 108  
Related Party      
Assets      
Available-for-sale securities 39,091 26,428  
AFS securities allowance for credit losses 1 1  
Short-term Investments 0 18  
Other investments 319 344  
Investment funds 2,327 1,318  
Accrued investment income 321 241  
Reinsurance recoverable 7,803 6,336  
Other assets 334 284  
Trading securities, at fair value 1,257 454  
Mortgage loans, net of allowances 1,525 1,486  
Investment funds 3,291 2,149  
Liabilities and Equity      
Interest sensitive contract liabilities 4,618 5,381  
Liability 266 290  
Other liabilities 7,538 6,479  
Accumulated other comprehensive loss (related party: 2026 – $(320) and 2025 – $(112)) (320) (112)  
Consolidated Entity, Affiliated Entity and VIE Primary Beneficiary      
Assets      
Other assets 65   $ 23
Trading securities, at fair value 593 978  
Liabilities and Equity      
Other liabilities 113 235  
Variable Interest Entities      
Assets      
Other investments 948 844  
Other assets 174 346  
Trading securities, at fair value 885 3,120  
Mortgage loans, net of allowances 1,836 2,140  
Investment funds 29,034 24,070  
Restricted cash 17 17  
Liabilities and Equity      
Other liabilities 694 1,712  
Fair Value      
Liabilities and Equity      
Interest sensitive contract liabilities 278,074 254,089  
Fair Value | Consolidated Entity, excluding Affiliated Entity      
Assets      
Short-term Investments 117 1,049  
Other investments 44 67  
Investment funds 350 108  
Fair Value | Related Party      
Assets      
Short-term Investments   18  
Investment funds 964 831  
Fair Value | Variable Interest Entities      
Assets      
Investment funds 209    
Recurring | Consolidated Entity, Affiliated Entity and VIE Primary Beneficiary      
Assets      
Investment funds 28,747 23,783  
Recurring | Fair Value      
Assets      
Reinsurance recoverable 1,812 1,911  
Other assets 171 214  
Investment funds 28,825 24,070  
Restricted cash 1,066 1,332  
Liabilities and Equity      
Interest sensitive contract liabilities 17,091 15,515  
Future policy benefits 1,474 1,615  
Liability 4,668 4,930  
Recurring | Fair Value | Consolidated Entity, excluding Affiliated Entity      
Assets      
Embedded derivative assets, fair value (2,846) (2,409)  
Short-term Investments 8 33  
Other investments 1,874 1,818  
Trading securities, at fair value 5,722 6,409  
Mortgage loans, net of allowances 99,675 91,918  
Recurring | Fair Value | Related Party      
Assets      
Embedded derivative assets, fair value (487) (356)  
Other investments 319 344  
Reinsurance recoverable   1,911  
Trading securities, at fair value 1,257 454  
Mortgage loans, net of allowances 1,525 1,486  
Investment funds 2,327 1,318  
Recurring | Fair Value | Variable Interest Entities      
Assets      
Trading securities, at fair value 885 3,120  
Mortgage loans, net of allowances 1,836 2,140  
Investment funds $ 28,825 $ 24,070