Company: GE
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0000040545-25-000111
Chunk: 105

Company: GENERAL ELECTRIC CO
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 8
Chunk 105
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352 million, limited partnerships of $4,777 million and $4,321 million, a diversified commercial mortgage loan portfolio collateralized by first liens on U.S. commercial real estate properties of $1,877 million and $1,887 million (net of allowance for credit losses of $45 million and $46 million), and residential mortgage loans of $314 million and $251 million (net of allowance for credit losses of an insignificant amount), as of June 30, 2025 and December 31, 2024, respectively. As of June 30, 2025, the commercial mortgage loan portfolio had one delinquent loan, one non-accrual loan and about one-third of the portfolio was held in the office sector, which had a weighted average loan-to-value ratio of 73%, debt service coverage of 1.8, and an insignificant amount of scheduled maturities through 2026. A summary of our insurance liabilities and annuity benefits is presented below.

June 30, 2025Long-term careStructured settlement annuitiesLifeOther contractsTotalFuture policy benefit reserves$25,051 $8,382 $994 $337 $34,764 Investment contracts— 682 — 591 1,274 Other— — 111 597 708 Total$25,051 $9,064 $1,104 $1,526 $36,745 December 31, 2024Future 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 

2025 2Q FORM 10-Q 25

The following tables summarize balances of and changes in future policy benefit reserves.June 30, 2025June 30, 2024Present value of expected net premiumsLong-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLifeBalance, beginning of year$4,144 $— $4,318 $4,063 $— $4,803 Beginning balance at locked-in discount rate3,991 — 4,415 3,745 — 4,773 Effect of changes in