Company: GE
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000040545-25-000015
Chunk: 308

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 8
Chunk 308
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251 million and $0 million (net of allowance for credit losses of an insignificant amount), as of December 31, 2024 and 2023, respectively. As of December 31, 2024, the commercial mortgage loan portfolio had one delinquent loan, no non-accrual loans and about one-third of the portfolio was held in the office sector, which had a weighted average loan-to-value ratio of 69%, debt service coverage of 1.7, and no scheduled maturities through 2025. A summary of our insurance liabilities and annuity benefits is presented below.

2024 FORM 10-K 55

December 31, 2024Long-term careStructured settlement annuitiesLifeOther contractsTotalFuture policy benefit reserves$24,675 $8,426 $1,018 $357 $34,476 Investment contracts— 719 — 621 1,340 Other— — 116 277 394 Total$24,675 $9,145 $1,134 $1,254 $36,209 December 31, 2023Future policy benefit reserves$26,832 $9,357 $1,117 $382 $37,689 Investment contracts— 793 — 694 1,487 Other— — 116 285 400 Total$26,832 $10,150 $1,233 $1,361 $39,576 The following tables summarize balances of and changes in future policy benefit reserves.December 31, 2024December 31, 2023Present value of expected net premiumsLong-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLifeBalance, beginning of year$4,063 $— $4,803 $4,059 $— $4,828 Beginning balance at locked-in discount rate3,745 — 4,773 3,958 — 5,210 Effect of changes in cash flow assumptions465 — (1)(4)— (77)Effect of actual variances from expected experience(26)— 8 (22)— (300)Adjusted beginning of year balance4,184 — 4,780 3,932 — 4,833 Interest accrual 209 — 177 207 — 192 Net premiums collected