Company: GE
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0000040545-25-000111
Chunk: 146

Company: GENERAL ELECTRIC CO
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 1
Chunk 146
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Net future policy benefit reserves, after reinsurance recoverables$24,895 $8,382 $746 $25,146 $8,700 $979 Weighted-average duration of liability (years)(a)11.310.15.312.110.75.4Weighted-average interest accretion rate5.6%5.4%5.3%5.6%5.4%5.2%Current discount rate5.5%5.5%4.9%5.4%5.4%5.1%Gross premiums or assessments recognized during period$231 $— $163 $242 $— $156 Expected future gross premiums, undiscounted7,321 — 11,569 7,244 — 11,886 Expected future gross premiums, discounted(a)4,694 — 5,303 4,665 — 5,323 Expected future benefit payments, undiscounted61,410 18,249 10,442 62,387 18,937 10,730 Expected future benefit payments, discounted(a)29,192 8,382 5,386 29,105 8,700 5,424 (a) Determined using the current discount rate as of June 30, 2025 and 2024.As of June 30, 2025 and 2024, policyholders account balances totaled $1,499 million and $1,654 million, respectively. As our insurance operations are in run-off, changes in policyholder account balances for the six months ended June 30, 2025 and 2024 are primarily attributed to surrenders, withdrawals, and benefit payments of $211 million and $215 million, partially offset by net additions from separate accounts and interest credited of $134 million and $142 million, respectively. Interest on policyholder account balances is generally credited at minimum guaranteed rates, primarily between 3.0% and 6.0% at both June 30, 2025 and 2024.In the third quarter, we will complete our annual review of future policy benefit reserves cash flow assumptions, except related claim expenses which remain locked-in. If the review concludes that the assumptions need to be updated, future policy benefit reserves will be adjusted retroactively to the ASU 2018-12 transition date based on the revised net premium ratio using actual historical experience, updated cash flow