CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Investments:
Fixed maturity available-for-sale securities, at fair value	$ 85,186	$ 81,900
Trading securities	1,837	2,005
Equity securities	537	294
Mortgage loans on real estate, net of allowance for credit losses	22,092	20,940
Policy loans	2,574	2,465
Derivative investments	10,405	9,512
Other investments	7,489	6,935
Total investments	130,120	124,051
Cash and invested cash	9,944	4,505
Deferred acquisition costs, value of business acquired and deferred sales inducements	12,511	12,426
Reinsurance recoverables, net of allowance for credit losses	49,355	48,943
Deposit assets, net of allowance for credit losses	33,383	30,537
Market risk benefit assets	4,694	4,860
Accrued investment income	1,047	993
Goodwill	1,144	1,144
Other assets	9,100	9,529
Separate account assets	179,860	168,438
Total assets	431,158	405,426
Liabilities
Policyholder account balances	132,874	125,818
Future contract benefits	42,128	40,002
Funds withheld reinsurance liabilities	29,610	26,810
Market risk benefit liabilities	1,190	1,046
Deferred front-end loads	7,368	6,750
Payables for collateral on investments	11,140	9,876
Short-term debt	105	24
Long-term debt	2,147	2,173
Other liabilities	12,922	13,977
Separate account liabilities	179,860	168,438
Total liabilities	419,344	394,914
Contingencies and Commitments (See Note 13)
Stockholder’s Equity
Common stock – $10,000,000 shares authorized, issued and outstanding	14,028	13,015
Retained earnings (deficit)	(482)	(173)
Accumulated other comprehensive income (loss)	(1,732)	(2,330)
Total stockholder’s equity	11,814	10,512
Total liabilities and stockholder’s equity	$ 431,158	$ 405,426