Company: GE
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0000040545-25-000132
Chunk: 72

Company: GENERAL ELECTRIC CO
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 4
Chunk 72
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$1,060 Less: Reinsurance recoverables, net of allowance for credit losses(157)— (179)(185)— (32)Net future policy benefit reserves, after reinsurance recoverables$25,644 $8,467 $797 $26,628 $9,093 $1,028 Weighted-average duration of liability (years)(b)11.310.26.012.310.95.6Weighted-average interest accretion rate5.6%5.4%5.3%5.6%5.4%5.1%Current discount rate5.3%5.3%4.9%5.0%4.9%4.6%Gross premiums or assessments recognized during period$343 $— $249 $359 $— $241 Expected future gross premiums, undiscounted7,499 — 4,468 7,517 — 12,011 Expected future gross premiums, discounted(b)4,813 — 2,452 4,938 — 5,576 Expected future benefit payments, undiscounted61,497 17,961 5,091 62,798 18,769 10,868 Expected future benefit payments, discounted(b)30,188 8,467 3,161 31,131 9,093 5,684 (a) Substantially all of Life reflects novations executed during the three months ended September 30, 2025, in connection with the February 3, 2025, Canadian life and health insurance portfolio reinsurance transaction.(b) Determined using the current discount rate as of September 30, 2025 and 2024.As of September 30, 2025 and 2024, policyholders account balances totaled $1,407 million and $1,612 million, respectively. As our insurance operations are in run-off, changes in policyholder account balances for the nine months ended September 30, 2025 and 2024 are primarily attributed to surrenders, withdrawals and benefit payments of $367 million and $323 million, partially offset by net additions from separate accounts and interest credited of $197 million and $206 million, respectively. Interest on policyholder account balances is generally credited at minimum guaranteed rates, primarily between 3.0% and 6.0% at both September 30, 2025 and