CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Investments:
Fixed maturity available-for-sale securities, at fair value (amortized cost: 2026 - $96,311; 2025 - $92,842; allowance for credit losses: 2026 - $138; 2025 - $110)	$ 90,273	$ 87,586
Trading securities	1,500	1,660
Equity securities	452	629
Mortgage loans on real estate, net of allowance for credit losses (portion at fair value: 2026 - $195; 2025 - $199)	23,277	22,338
Policy loans	2,587	2,617
Derivative investments	11,381	9,945
Other investments	8,636	7,812
Total investments	138,106	132,587
Cash and invested cash	7,944	7,946
Deferred acquisition costs, value of business acquired and deferred sales inducements	12,689	12,637
Reinsurance recoverables, net of allowance for credit losses	47,743	48,607
Deposit assets, net of allowance for credit losses	35,424	34,819
Market risk benefit assets	5,077	4,753
Accrued investment income	1,070	1,013
Goodwill	1,144	1,144
Other assets	9,905	9,394
Separate account assets	188,252	180,092
Total assets	447,354	432,992
Liabilities
Policyholder account balances	139,184	135,904
Future contract benefits	42,201	42,360
Funds withheld reinsurance liabilities	31,066	30,930
Market risk benefit liabilities	895	1,118
Deferred front-end loads	8,076	7,605
Payables for collateral on investments	9,231	7,953
Short-term debt	615	0
Long-term debt	1,526	1,426
Other liabilities	14,366	13,618
Separate account liabilities	188,252	180,092
Total liabilities	435,412	421,006
Contingencies and Commitments (See Note 13)
Stockholder’s Equity
Common stock – $10,000,000 shares authorized, issued and outstanding	14,059	14,041
Retained earnings (deficit)	126	(100)
Accumulated other comprehensive income (loss)	(2,243)	(1,955)
Total stockholder’s equity	11,942	11,986
Total liabilities and stockholder’s equity	$ 447,354	$ 432,992