Debt securities, available-for-sale, net of allowance for credit losses of 24 and 11 at june30, 2026 and december31, 2025, respectively (amortized cost 2026 55,815 2025 50,491)
52,208
48,597
47,321
46,087
Debt securities, at fair value under fair value option
3,534
3,351
3,470
3,482
Equity securities, at fair value
262
243
172
180
Mortgage loans, net of allowance for credit losses of 176 and 133 at june30, 2026 and december31, 2025, respectively
10,414
10,248
9,887
9,571
Mortgage loans, at fair value under fair value option
595
196
324
349
Policy loans (including 3,617 and 3,537 at fair value under the fair value option at june30, 2026 and december31, 2025, respectively)
4,484
4,431
4,426
4,487
Freestanding derivative instruments
422
701
448
486
Other invested assets
3,392
3,246
3,185
3,049
Total investments
75,311
71,013
69,233
67,691
Cash and cash equivalents
5,986
5,539
5,704
4,562
Accrued investment income
714
636
634
585
Deferred acquisition costs
11,655
11,634
11,660
11,654
Reinsurance recoverable, net of allowance for credit losses of 31 and 30 at june30, 2026 and december31, 2025, respectively
18,331
18,926
19,518
20,053
Reinsurance recoverable on market risk benefits, at fair value
109
121
118
116
Market risk benefit assets, at fair value
8,046
6,701
7,867
8,521
Deferred income taxes, net
609
610
719
573
Other assets
917
905
637
757
Separate account assets
245,387
223,452
236,496
239,046
Total assets
367,065
339,537
352,586
353,558
Reserves for future policy benefits and claims payable
10,634
10,706
10,896
10,912
Other contract holder funds
-
68,703
67,663
65,289
Account values with crediting rates
73,285
-
-
-
Market risk benefit liabilities, at fair value
3,368
3,971
3,754
3,733
Funds withheld payable under reinsurance treaties (including 3,806 and 3,723 at fair value under the fair value option at june30, 2026 and december31, 2025, respectively)
14,090
14,511
14,960
15,498
Debt
2,769
2,027
2,030
2,030
Repurchase agreements and securities lending payable
Series a non-cumulative preferred stock and additional paid in capital, 1.00 par value per share 24,000 shares authorized 22,000 shares issued and outstanding at june30, 2026 and december31, 2025 liquidation preference 25,000 per share (see note 19)
533
533
533
533
Common stock 1,000,000,000 shares authorized, 0.01 par value per share and 68,185,286 and 66,825,632 shares issued and outstanding at june30, 2026 and december31, 2025, respectively (see note 19)
1
1
1
1
Additional paid-in capital
6,401
6,393
6,063
6,056
Treasury stock, at cost 26,303,029 and 27,662,683 shares at june30, 2026 and december31, 2025, respectively
1,897
1,671
1,645
1,493
Accumulated other comprehensive income (loss), net of tax expense (benefit) of (286) and (377) at june30, 2026 and december31, 2025, respectively
-2,625
-2,728
-2,470
-2,609
Retained earnings
7,549
6,968
7,471
7,741
Total shareholders' equity
9,962
9,496
9,953
10,229
Noncontrolling interests
512
404
389
272
Total equity
10,474
9,900
10,342
10,501
Total liabilities and equity
367,065
339,537
352,586
353,558
Unit: Million (M) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.
Time Plot
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