Company: GE
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0000040545-25-000062
Chunk: 54

Company: GENERAL ELECTRIC CO
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 4
Chunk 54
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 assessments recognized during period$117 $— $79 $123 $— $79 Expected future gross premiums, undiscounted7,448 — 11,350 7,376 — 12,082 Expected future gross premiums, discounted(a)4,722 — 5,249 4,794 — 5,446 Expected future benefit payments, undiscounted61,449 18,432 10,314 62,774 19,092 10,935 Expected future benefit payments, discounted(a)28,861 8,394 5,357 29,654 8,909 5,581 (a) Determined using the current discount rate as of March 31, 2025 and 2024.As of March 31, 2025 and 2024, policyholders account balances totaled $1,535 million and $1,686 million, respectively. As our insurance operations are in run-off, changes in policyholder account balances for the three months ended March 31, 2025 and 2024 are primarily attributed to surrenders, withdrawals, and benefit payments of $114 million and $106 million, partially offset by net additions from separate accounts and interest credited of $74 million and $66 million, respectively. Interest on policyholder account balances is generally credited at minimum guaranteed rates, primarily between 3.0% and 6.0% at both March 31, 2025 and 2024.On February 3, 2025, we closed the Canadian life and health insurance portfolio reinsurance transaction that was announced in 2024. We received a ceding commission of $128 million and the gain was deferred and will be recognized over the remaining life of the policies or earlier if the underlying treaties are novated.See Notes 3 and 9 for further information related to our run-off insurance operations.

24 2025 1Q FORM 10-Q

NOTE 13. POSTRETIREMENT BENEFIT PLANS. We sponsor a number of pension and retiree health and life insurance benefit plans that we present in three categories; principal pension plans, other pension plans and principal retiree benefit plans. Please refer to Note 13 to the consolidated financial statements of our Annual Report on Form 10-K for the year ended December 31, 2024 for further information.

The components of benefit plans cost other than the service cost are included in the caption Non-operating benefit