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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 339,184 $ 52,950
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Policy charges and fee income (2,385,391) 47,830
Interest credited to policyholders’ account balances 706,934 467,112
Realized investment (gains) losses, net (245,387) 581,241
Change in value of market risk benefits, net of related hedging (gains) losses 365,993 266,156
Change in:    
Future policy benefits and other insurance liabilities 1,965,765 1,722,582
Reinsurance recoverables (699,804) (447,411)
Accrued investment income (93,153) (85,831)
Net payables to/receivables from parent and affiliates 35,536 (9,978)
Deferred policy acquisition costs (923,402) (386,514)
Income taxes (291,914) (430,883)
Derivatives, net 165,999 (547,545)
Other, net 3,237,170 107,768
Cash flows from (used in) operating activities 2,177,530 1,337,477
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 2,290,052 1,096,571
Fixed maturities, trading 725,117 68,734
Equity securities 956,037 189,090
Policy loans 140,426 141,484
Ceded policy loans (84,955) (94,874)
Short-term investments 997,435 352,689
Commercial mortgage and other loans 545,134 98,558
Other invested assets 31,060 11,800
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (10,341,310) (5,957,466)
Fixed maturities, trading (1,367,554) (746,093)
Equity securities (661,555) (86,748)
Policy loans (171,967) (1,111,590)
Ceded policy loans 77,459 127,365
Short-term investments (1,155,119) (473,889)
Commercial mortgage and other loans (1,616,916) (665,136)
Other invested assets (309,750) (137,809)
Notes receivable from parent and affiliates, net (338,431)  
Notes receivable from parent and affiliates, net   4,302
Derivatives, net 172,756 (56,949)
Other, net 0 (3,924)
Cash flows from (used in) investing activities (10,112,081) (7,243,885)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 12,851,141 9,193,418
Ceded policyholders’ account deposits (957,473) (875,022)
Policyholders’ account withdrawals (3,108,080) (2,805,559)
Ceded policyholders’ account withdrawals 593,474 454,740
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities 112,070 97,263
Contributed / (return of) capital (550,000) (545,000)
Contributed (distributed) capital - parent/child asset transfers 6,332 2,919
Net change in all other financing arrangements (maturities 90 days or less) 0 (584)
Repayments of debt (maturities longer than 90 days) (180,411) 0
Drafts outstanding (63,534) (109,199)
Contributions from noncontrolling interests 211,212 0
Other, net 193,738 (58,917)
Cash flows from (used in) financing activities 9,108,469 5,354,059
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,173,918 (552,349)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,139,792 2,397,627
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 3,313,710 $ 1,845,278